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Start Free TrialCompanies Act, 2013, Section 132
Title: Constitution of National Financial Reporting Authority
State: Central
Year: 2013
.....the firm from engaging himself or itself from practice as member of the Institute of Chartered Accountant of India referred to in clause (e) of sub-section (1) of section 2 of the Chartered Accountants Act, 1949 (38 of 1949) for a minimum period of six months or for such higher period not exceeding ten years as may be decided by the National Financial Reporting Authority. Explanation.--For the purposes of his sub-section, the expression "professional or other misconduct" shall have the same meaning assigned to it under section 22 of the Chartered Accountants Act, 1949 (38 of 1949). (5) Any person aggrieved by any order of the National Financial Reporting Authority issued under clause (c) of sub-section (4), may prefer an appeal before the Appellate Authority constituted under sub-section (6) in such manner as may be prescribed. (6) The Central Government may, by notification, constitute, with effect from such date as may be specified therein, an Appellate Authority consisting of a chairperson and not more then two other members, to be appointed by the Central Government, for hearing appeals arising out of the orders of the National Financial Reporting Authority. (7) The.....
View Complete Act List Judgments citing this sectionState Financial Corporations Act, 1951 Complete Act
Title: State Financial Corporations Act, 1951
State: Central
Year: 1951
.....employees of the Financial Corporation Chapter III Section24 - General duty of the Board Section25 - Business which Financial Corporation may transact Section25A - Power to acquire rights Section25B - Gifts, grants etc. Section26 - Limit of accommodation Section27 - Power to impose conditions for accommodation Section28 - Prohibited business Section29 - Rights of Financial Corporation in case of default Section30 - Power to call for repayment before agreed period Section31 - Special provisions for enforcement of claims by Financial Corporation Section32 - Procedure of district judge in respect of applications under Section 31 Section32A - Power of Financial Corporation to appoint directors or administrators of an industrial concern when management is taken over Section32B - Effect of notified order under Section 32A Section32C - Powers and duties of directors and administrators Section32D - No right to compensation for termination of contract of managing agent, managing director, etc. Section32E - Application of Act 1 of 1956 Section32F - Restriction on tiling of suite for dissolution, etc., of an industrial concern not being a company when its management is.....
List Judgments citing this sectionState Financial Corporations Act, 1951 Section 25
Title: Business Which Financial Corporation May Transact
State: Central
Year: 1951
.....promissory notes and bills of exchange made, down, accepted or endorsed by industrial concerns or by any person selling capital goods manufactured by one industrial concern to another industrial concern; (j) undertaking research and surveys for evaluating or dealing with marketing or investments or undertaking and carrying on techno-economic studies or other activities in connection with the development of any industry; (k) providing technical and administrative assistance to any industrial concern or any person for the promotion, management or expansion of any industry; (l) planning and assisting in the promotion and development of industries; (m) providing consultancy and merchant banking services; (n) acting as the trustee for the holders of debentures or other securities; (o) leasing, sub-leasing or giving on hire or hire-purchase of industrial plant, equipment, machinery or any other asset; (p) factoring; (q) providing export related credit and services; (r) undertaking money market related activities; (s) setting up of mutual funds and undertaking asset management activity; (t) promoting, forming or conducting or assisting in the promotion,.....
View Complete Act List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Complete Act
Title: Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
State: Central
Year: 2002
.....of securitisation, reconstruction and creation of security interest Section24 - Modification of security interest registered under this Act Section25 - Securitisation company or reconstruction company or secured creditor to report satisfaction of security interest Section26 - Right to inspect particulars of securitisation, reconstruction and security interest transactions Chapter V Section27 - Penalties Section28 - Penalties for non-compliance of direction of Reserve Bank Section29 - Offences Section30 - Cognizance of offence Chapter VI Section31 - Provisions of this Act not to apply in certain cases Section32 - Protection of action taken in good faith Section33 - Offences by companies Section34 - Civil court not to have jurisdiction Section35 - The provisions of this Act to override other laws Section36 - Limitation Section37 - Application of other laws not barred Section38 - Power of Central Government to make rules Section39 - Certain provisions of this Act to apply after Central Registry is set-up or cause to be set-up Section40 - Power to remove difficulties Section41 - Amendments of certain enactments Section42 - Repeal and saving Schedule1 -.....
List Judgments citing this sectionKarnataka Protection Oe Interest of Depositors in Financial Establishments Act, 2004 Complete Act
Title: Karnataka Protection Oe Interest of Depositors in Financial Establishments Act, 2004
State: Karnataka
Year: 2004
.....by financial establishment Chapter IV Section 10 - Special Court Section 11 - Powers of the Special Court regarding realisation of assets and payment to depositors Section 12 - Powers of Special Court regarding attachment Section 13 - Attachment of property of mala fide transferees Section 14 - Security in lieu of attachment Section 15 - Administration of property attached Section 16 - Appeal Section 17 - Special Public Prosecutor Section 18 - Procedure and powers of Special Court regarding offences Chapter V Section 19 - Act to override other laws Section 20 - Protection of action taken in good faith Section 21 - Power to make rules Section 22 - Power to remove difficulties
List Judgments citing this sectionState Financial Corporations Act, 1951 Section 43B
Title: Reports to the Board
State: Central
Year: 1951
1[43B. Reports to the Board (1) The minutes of every meeting of the committee appointed under Section 21 shall, after confirmation thereof at the next meeting of the committee, laid before the Board at the next following meeting of the Board. 2[***]] ______________________ 1. Inserted by Act 43 of 1985, section 28 (w.e.f. 21-8-1985). 2. Sub-section (2) omitted by Act 39 of 2000, section 32 (w.e.f. 5-9-2000).
View Complete Act List Judgments citing this sectionKarnataka Protection Oe Interest of Depositors in Financial Establishments Act, 2004 Section 8
Title: Report by the Competent Authority
State: Karnataka
Year: 2004
After making a report under Section 7, the Competent Authority shall make an application to the Special Court seeking permission to make payment to the depositors from out of the money realised. While making such application, the Competent Authority shall assess the liability to the depositors and other liabilities and in case the money realised or realizable is not sufficient to meet the entire liability, seek permission of the Special Court for making payment to the depositors and disburse the money as per the orders of the Special Court.
View Complete Act List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Chapter II
Title: Regulation of Securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions
State: Central
Year: 2002
.....2004 2. Substituted for "such order of rejection or cancellation" by The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Section 5 - Acquisition of rights or interest in financial assets (1) Notwithstanding anything contained in any agreement or any other law for the time being in force, any securitisation company or reconstruction company may acquire financial assets of any bank or financial institution-- (a) by issuing a debenture or bond or any other security in the nature of debenture, for consideration agreed upon between such company and the bank or financial institution, incorporating therein such terms and conditions as may be agreed upon between them; or (b) . by entering into an agreement with such bank or financial institution for the transfer of such financial assets to such company on such terms and conditions as may be agreed upon between them. (2) If the bank or financial institution is a lender in relation to any financial assets acquired under sub-section (1) by the securitisation company or the reconstruction company, such securitisation company or reconstruction company shall, on such acquisition, be deemed to be.....
View Complete Act List Judgments citing this sectionState Financial Corporations Act, 1951 Chapter II
Title: Insorporation of State Financial Corporations, their Capital and Management
State: Central
Year: 1951
..... 4[* **] (f) determine which of the participating State Governments shall exercise the several functions of the State Government under this Act, and references in this Act to the State Government, in relation to the Joint Financial Corporation, shall, save as otherwise expressly provided, be construed accordingly; (g) provide for consultation among the participating States either generally or with reference to particular matters arising under this Act; (h) make such incidental and consequential provisions, not inconsistent with this Act, as may be deemed necessary or expedient for giving effect to the agreement. (3) The Joint Financial Corporation shall be a body corporate by the name notified under Sub-section (1), having perpetual succession and a common seal, with power, subject to the provisions of this Act, to acquire, hold and dispose of property and shall by the said name sue and be sued. (4) Any reference in this Act to "State" in relation to a Joint Financial Corporation established for two or more States, shall be construed as a reference to each such State.] ______________________ 1. Inserted by Act 56 of 1956, section 4 (w.e.f. 1-10-1956). 2......
View Complete Act List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 5
Title: Acquisition of Rights or Interest in Financial Assets
State: Central
Year: 2002
.....bank or financial institution shall vest in such company in relation to such financial assets. (3) Unless otherwise expressly provided by this Act, all contracts, deeds, bonds, agreements, powers-of-attorney, grants of legal representation, permissions, approvals, consents or no-objections under any law or otherwise and other instruments of whatever nature which relate to the said financial asset and which are subsisting or having effect immediately before the acquisition of financial asset under sub-section (1) and to which the concerned bank or financial institution is a party or which are in favour of such bank or financial institution shall, after the acquisition of the financial assets, be of as full force and effect against or in favour of the securitisation company or reconstruction company, as the case may be, and may be enforced or acted upon as fully and effectually as if, in the place of the said bank or financial institution, securitisation company or reconstruction company, as the case may be, had been a party thereto or as if they had been issued in favour of securitisation company or reconstruction company, as the case may be. (4) If, on the date of.....
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