Title : Indian Railway Companies Act, 1895
State : Central
Year : 1895
Preamble1 - INDIAN RAILWAY COMPANIES ACT, 1895 Section1 - Title and extent Section2 - Definitions Section3 - Payment of interest out of capital Section4 - Provisions of section 3 applicable to additional share capital for extension Section5 - Notice in prospectus and other document Section6 - Accounts Section7 - Construction of borrowing powers List Judgments citing this sectionTitle : Indian Railway Companies Act, 1895
State : Central
Year : 1895
THE INDIAN RAILWAY COMPANIES ACT, 1895 [Act, No. 10 of 1895] [AS ON 1958] [7th March, 1895] PREAMBLE An Act to provide for the payment by Railway Companies registered under the Indian Companies Act, 1882, of interest out of capital during construction. WHEREAS it is expedient to provide for the payment by Railway Companies registered under the {This Act has been rep. by the Indian Companies Act, 1913 (7 of 1913), which has also been rep.by the Companies Act, 1956 (1 of 1956).} Indian Companies Act, 1882, of interest out of capital during construction; It is hereby enacted as follows: View Complete Act List Judgments citing this sectionTitle : Payment of Interest out of Capital
State : Central
Year : 1895
A Railway Company may pay interest on its paid-up share capital out of capital, for the period, and subject to the conditions and restrictions, in this section mentioned, and may charge the same to capital as part of the cost of construction of the railway: (1) Such interest shall be paid only for such period as shall be determined by the Central Government; and such period shall in no case extend beyond the close of the half-year next after the half-year during which the railway shall be actually completed and opened for traffic. (2) No such payment shall be made unless the same is authorised by the Company's memorandum of association or by a special resolution of the Company. (3) No such payment, whether authorised by the Company's memorandum of association or by special..... View Complete Act List Judgments citing this sectionTitle : Provisions of Section 3 Applicable to Additional Share Capital for Extension
State : Central
Year : 1895
A railway in course of construction and intended to be made or worked by a Railway Company in addition to or by way of extention of any railway owned or worked by such Company shall be deemed to be the railway of such Company for the purposes of this Act, and all the provisions of the last preceding section shall apply to such railway and to the share capital issued for the purpose of its construction. View Complete Act List Judgments citing this sectionTitle : Definitions
State : Central
Year : 1895
In this Act, unless there is something repugnant in the subject or context .- (1) "railway" means a railway as defined in section 3, clause (4), of the Indian Railways Act, 1890: (2) "the railway" means the railway in relation to the construction of which interest out of capital is permitted to be paid as hereinafter provided: and (3) "Railway Company" means a Company registered under the {See now the companies Act, 1956 (1 of 1956).} Indian Companies Act, 1882, and formed for the purpose of Marking and working, or making or working, a railway in India, whether alone or in conjunction with other purposes. View Complete Act List Judgments citing this sectionTitle : Construction of Borrowing Powers
State : Central
Year : 1895
If by any memorandum of association, articles of association or other document any power of borrowing money is conferred on a Railway Company, or on its Directors, with or without the sanction of any meeting, and if such power of borrowing is limited to an amount bearing any proportion to the capital of such Company, the amount of capital applied or to be applied in payment of interest under this Act shall, for the purpose of ascertaining the extent of such power of borrowing, be deducted from the capital of such Company. View Complete Act List Judgments citing this sectionTitle : Title and Extent
State : Central
Year : 1895
(1) This Act may be called the Indian Railway Companies Act, 1895. (2) It extends to the whole of India except [Subs. by the Adaptation of Laws (No.2) Order, 1956, for "Part B States".] [the territories which, immediately before the 1st November, 1956, were comprised in Part B States]. [The word "and" at the end of sub-section (2) and sub-section (3) rep. by Act 10 of 1914, section. 3 and Schedule. II.] [The word "and" at the end of sub-section (2) and sub-section (3) rep. by Act 10 of 1914, section.3 and Schedule. II.] View Complete Act List Judgments citing this sectionTitle : Accounts
State : Central
Year : 1895
When any interest has been paid by a Railway Company under this Act, the annual or other accounts of such company shall show the amount on which, and the rate at which, interest has been so paid. View Complete Act List Judgments citing this sectionTitle : Notice in Prospectus and Other Document
State : Central
Year : 1895
When a Railway Company has power to pay interest under is this Act, notice to that effect shall be given in every prospectus, advertisement or other document inviting subscriptions for shares therein, and in every certificate of such shares. View Complete Act List Judgments citing this sectionState : Central
Year : 2001
INDIAN RAILWAY COMPANIES (REPEAL) ACT, 2001 INDIAN RAILWAY COMPANIES (REPEAL) ACT, 2001 24 of 2001 August 29, 2001 Prefatory Note"Statement of Objects and Reasons."The Indian Railway Companies Act, 1895 enables a Railway Company to pay interest on its paid-up share capital out of capital and treat the amount so paid as the total cost of the project. A similar provision relating to power of company to pay interest out of capital in certain cases exists in Section 208 of the Companies Act, 1956. The provisions of Section 208 of the companies Act. 1956 are applicable in case of all the companies registered under the Companies Act. 1956 including the Railway Companies. Consequent upon enactment of the Companies Act, 1956 the Indian Railway Companies Act, 1895 has become..... List Judgments citing this section