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2007 (5) TMI 692
... ... ... ... ..... of the judgment of the learned Single Judge, which is impugned in this appeal, would show that though the question as to whether the security deposit is not to be treated as an asset or property of the sick company was noted, but without answering this question and discussing as to what would be the character of security deposit for tenanted premises, only on the ground that in the execution the decree holder was seeking to recover money, the learned Single Judge opined that it would be covered by the express language of S....... + More
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2007 (5) TMI 691
... ... ... ... ..... such a situation. 20. In a case of this nature, it is very difficult to say at this stage as to whether they are parties to the larger conspiracy or not. In the evidence, it is alleged that one of the appellants had gone for training to Pakistan, another had provided money and he had been in possession of a large quantity of arms. A strong prima facie case has been made out against the appellants herein. Their release at this juncture may hamper the smooth conduct of trial since main witnesses are yet to be examined. One o....... + More
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2007 (5) TMI 690
... ... ... ... ..... he State of Uttar Pradesh in continuation of the investigation made by the Officer-in-charge of the Shakespeare Sarani Police Station. The Chief Metropolitan Magistrate, Allahabad shall be entitled to pass appropriate orders from time to time in this behalf. (v) The Report on completion of the investigation shall be forwarded to the Chief Metropolitan Magistrate, Calcutta who shall determine the question of his own jurisdiction at an appropriate stage. (vi) This order, it is made clear, is being passed in exercise of our e....... + More
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2007 (5) TMI 689
... ... ... ... ..... et aside the finding of acquittal of accused Suman Sood for an offence under Section 364A read with 120B, IPC. To that extent, therefore, the order of conviction and sentence recorded by the High Court deserves to be set aside. FINAL ORDER 71. For the aforesaid reasons, the appeal filed by Daya Singh deserves to be dismissed and is, accordingly, dismissed and the order of conviction and sentence recorded against him by the trial Court and confirmed by the High Court is upheld. 72. So far as accused Suman Sood is concerned,....... + More
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2007 (5) TMI 688
... ... ... ... ..... stified in holding that Central Subsidy should not be deducted from the actual cost of assets for the purposes of allowing depreciation 3. The Supreme Court considered the case law in detail and concluded that the expression actual cost needs to be interpreted liberally. The subsidy does not partake of the incidents which attract the conditions for their deductibility from actual cost . It was, Therefore, held that it would not be unreasonable to say that Government subsidy is an incentive, not for the specific purpose of ....... + More
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2007 (5) TMI 687
... ... ... ... ..... cited by Mr. Ghosh are of no avail to his client. 52. We, therefore, dismiss the appeals filed by the Corporation in the above nine matters and so far the writ-application filed by the Asian Leather Private Limited is concerned, we pass the same order by declaring the Circular as ultra vires the Statute and the Constitution of India and at the same time, directing the Corporation to refund the Drainage Development Fees collected from the writ-petitioners within three months from today with interest at the rate of 8% per an....... + More
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2007 (5) TMI 686
... ... ... ... ..... be on the merits of the case. 20. In the instant case, the learned Single Judge has also remarked that the appellant had in fact no defense on the merits of the claim. His only plea was that he was misguided by his younger brother regarding the financial conditions of the company and was persuaded to furnish the guarantee under the belief that the company was doing very well and the guarantee was merely a formality to seek more facilities from the Bank. This plea of the appellant was discussed by the English Court, which p....... + More
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2007 (5) TMI 685
... ... ... ... ..... perty of writ petitioner mortgaged to the corporation respondent and impugned public notice for sale of the said mortgaged property is concerned. Hence, taking over of possession of petitioner's land mortgaged vide letter (Annexure-1) is bad in law and the public notice (Annexure-2 to the writ petition) issued by the corporation for selling such land as mortgaged by the petitioner/guarantor is also impermissible under law, as the corporation had failed to discharge its duty before issuing the letter and public notice i....... + More
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2007 (5) TMI 684
... ... ... ... ..... with the ROC on 20.5.2003. Their removal as Directors was illegal. However, since the petitioners husband is dead now, his son in his place is required to be placed as Director besides his mother who continues to be a director as her removal as well was illegal. 16. As regards the sale of Time Shares at the back of the petitioners after reducing them to a minority of 8%, the absence of R-8 despite initially intending to represent before CLB only gives strength to the petitioner's contention in this regard. However, the....... + More
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2007 (5) TMI 683
... ... ... ... ..... . It is not a mere irregularity. Non-payment of the said amount renders the sale proceedings a complete nullity. 6. In Balram v. Ilam Singh and Ors. AIR1996SC2781 , it has been held that the obligation of the purchaser to deposit the full purchase money within time is a mandatory requirement and non-compliance of the rule renders the sale a nullity and not a mere irregularity. 7. In view of the above, we are of the opinion that the auction sale of the appellants' property was a nullity, and there was no valid auction s....... + More
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2007 (5) TMI 682
... ... ... ... ..... ounsel for the State also pointed out that there was no necessity whatsoever on the part of the Tribunal to review its own judgment. Even after the microscopic examination of the judgment of the Tribunal we could not find a single reason in the whole judgment as to how the review was justified and for what reasons. No apparent error on the face of the record was pointed, nor was it discussed. Thereby the Tribunal sat as an appellate authority over its own judgment. This was completely impermissible and we agree with the Hi....... + More
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2007 (5) TMI 681
... ... ... ... ..... her father, are insufficient to draw an inference of existence of a grave suspicion of such nature as to warrant charges against her. In fact, the chargesheet merely states that the petitioner at the instance of' Smt. Nandita Bakshi and V.K. Jha was found involved in siphoning of the money. No other link or attendant circumstance, as far as the petitioner's role is shown, or alleged in the chargesheet. 12. In the light of aforementioned observations, no substantiating prima facie case was made out against the petit....... + More
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2007 (5) TMI 680
... ... ... ... ..... aid contention of Mr. N.D. Singhal cannot be accepted. The question of deduction of income tax under Section 194-A of the Income Tax Act from the amount of compensation to be paid has been considered and decided by Gujarat High Court in the case of United India Insurance Co. Ltd. v. Mitaben Dharmeshbhai Shah and it has been followed by this Court in National Insurance Co. Ltd. v. Sunita Jain W.P. No. 939 of 2005; decided on 16.1.2006 (MP). For the grounds and reasons indicated in the order dated 16.1.2006 passed by this Co....... + More
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2007 (5) TMI 679
... ... ... ... ..... t it is not enough if notice is put in such time so that receipt within 30 days can be ensured. That would be against the dictum in Madhu v. Omega Pipes Ltd., (1994 (1) KLT 441) where it is clearly held that the date of receipt is not crucial or relevant and it is the date of giving- i.e., despatch of the notice, which is crucial and vital when we consider whether notice has been given in time. 7. I do, in these circumstances, come to the conclusion that notice need be given within 30 days under proviso (b) to Sec. 138 and....... + More
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2007 (5) TMI 678
... ... ... ... ..... herwise not binding on the parties. 45. We, however, are of the opinion that it is not necessary for us to go into the said question. 46. We, therefore, are of the opinion that the interest of justice would be subserved if it is directed that the respondents herein in filling up of the vacant posts must take into consideration the cases of all those teachers also who have the requisite qualifications, upon relaxation of age, if permissible by law along with other eligible candidates. We may, however, direct that it would b....... + More
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2007 (5) TMI 677
... ... ... ... ..... eliable and truthful, the question of corroboration does not arise particularly, when it is found that the witnesses are not inimically disposed towards the accused though related to the deceased and in this case also to the accused. 23. We may notice that the eye-witnesses did not ascribe any role to the two acquitted accused who are the brothers of the appellants. This is indeed indicative of the fact that the eye-witnesses did not intend to falsely implicate innocent persons. 24. We have, therefore., considered the enti....... + More
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2007 (5) TMI 676
... ... ... ... ..... to the file of the High Court. The High Court shall now consider the other contentions raised by the respondent-writ petitioner other than the issue answered by this Court. 16. This Court on 23.8.2004 stayed the operation of the judgment of the High Court subject to the appellant making payment of the amount equivalent to subsistence allowance from the date of the judgment of the High Court within four weeks. This order was passed keeping in view that the order of dismissal was set aside by the High Court. As we have set a....... + More
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2007 (5) TMI 675
... ... ... ... ..... edies are available for the contesting respondent. Apart from that, Section 69 of the Act provides itself that the dispute between the parties has to be resolved by filing appropriate dispute before the Registrar of the Co-operative Societies. Without doing so, the contesting respondent had rushed to this Court. The learned single Judge could not have entertained the Writ Petition and could not have issued any direction. We are of the view that when the main relief itself cannot be granted, interim order/direction could no....... + More
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2007 (5) TMI 674
... ... ... ... ..... ntial control through Central Government having 5 representatives nominated by the Government. Only because the financial aid is not to the extent it was required compared to the expenditure of the company or that its audit is not being conducted by the Comptroller and Auditor General it would not be appropriate for us to exclude this body from the purview of Article 12. From the nature of the work as recognized by the Ministry of Commerce in Clause 2.65.1 it is clear that the Capexil is discharging public duty. Hence, wit....... + More
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2007 (5) TMI 673
... ... ... ... ..... to a Chartered Accountant seeking additional training and qualification of CFA? In our opinion the impugned notification clearly and flagrantly violates the fundamental rights of the writ petitioners under Articles 14 and 19(1)(g) of the Constitution of India. 47. With respect to the court below it has obviously misunderstood the difference between the nature of functions of the Chartered Financial Analysts and the Chartered Accountants. Thousands of Chartered Accountants who have become students and/or have qualified as C....... + More