State : Central
Year : 1980
COMPANY SECRETARIES ACT, 1980 COMPANY SECRETARIES ACT, 1980 [Act No. 56 of Year 1980] An Act to make provision for the regulation and development of the profession of company secretaries Be it enacted by Parliament in the Thirty-first Year of the Republic of India as follows: - CHAPTER I: PRELIMINARY SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Company Secretaries Act, 1980. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. SECTION 02: DEFINITIONS AND INTERPRETATION (1) In this Act, unless the context otherwise requires,- (a) "associate" means an associate member of the Institute; (b) "Companies Act" means the..... List Judgments citing this sectionTitle : Payment of Amount
State : Central
Year : 1980
For the transfer to, and vesting, in, the Central Government, under section 3, of the undertakings of each of the two companies, and the right, title and interest of each of the two companies in relation to its undertakings, there shall be paid by the Central Government to each of the two companies, in cash and in the manner specified in Chapter VI, amount equal to the amount specified against the name of such company in the First Schedule. View Complete Act List Judgments citing this sectionTitle : Priority of Claims
State : Central
Year : 1980
The claims made under section 18 shall have priorities in accordance with the following principles, namely:- (a) Category I shall have precedence over all other categories and Category II shall have precedence over Category III, and so on; (b) the claims specified in each of the categories shall rank equally and be paid in full, but, if the amount is insufficient to meet such claims in full, they shall abate in equal proportions and be paid accordingly; and (c) the question of discharging any liability with regard to a matter specified in a lower category shall arise only if a surplus is left after meeting all the liabilities specified in the immediately higher category. View Complete Act List Judgments citing this sectionTitle : Corresponding New Banks to Be Guided by the Directions of the Central Government
State : Central
Year : 1980
Every corresponding new bank shall, in the discharge of its functions, be guided by such directions in regard to matters of policy involving public interest as the Central Government may, after consultation with the Governor of the Reserve Bank, give. View Complete Act List Judgments citing this sectionTitle : Duty of Persons in Charge of Management of the Undertakings of the Two Companies to Deliver All Assets, Etc.
State : Central
Year : 1976
(1) On the vesting of the management of the undertakings of the two companies in a Government company or on the appointment of a Custodian, all persons in charge of the management of the undertakings of either of the two companies immediately before such vesting or appointment, shall be bound to deliver to the Government company or the Custodian, as the case may be, all assets, books of account, registers or other documents in their custody relating to the undertakings of such company. (2) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to the Government company or the Custodian as to its or his powers and duties and the Government company or Custodian may also, if it or he so desires, apply to the Central Government at any..... View Complete Act List Judgments citing this sectionTitle : Penalties
State : Central
Year : 1976
Any person who, (a) having in his possession, custody or control any property forming part of any undertakings of either of the two companies, wrongfully withholds such property from the Central Government or Government company; or (b) wrongfully obtains possession of, or retains, any property forming part of any undertakings of either of the two companies, or wilfully withholds or fails to furnish to the Central Government or Government company or any person or body of persons specified by that Government or Government company, any document relating to such undertaking which may be in his possession, custody or control, or fails to deliver to the Central Government or Government company or any person or body of persons specified by that Government or Government company, any assets,..... View Complete Act List Judgments citing this sectionTitle : Payment of Amount
State : Central
Year : 1980
(1) For the transfer to, and vesting in, the Central Government, under section 3, of the undertakings of the Company, and the right, title and interest of the Company in relation to such undertakings, there shall be given be the Central Government to the Company in cash and in the manner specified in Chapter VI, an amount of rupees ten crores and four lakhs. (2) For the (sic)oval of doubts, it is hereby declared that the liabilities of the Company, in relation to its undertakings, shall be met, in accordance with the rights and interests of the creditors of the Company, from the amount due to the Company under sub-section (1). View Complete Act List Judgments citing this sectionTitle : Payment of Amount to the Company and Specified Companies
State : Central
Year : 1980
For the transfer to, and vesting, in, the Central Government, under section 3, of the undertakings of the Company and the right, title and interest of the Company in relation to its undertakings, there shall be paid by the Central Government to the Company, in cash and in the manner specified in Chapter VI, an aggregate amount of rupees two hundred and eighty-three lakhs. (2) For the transfer to, and vesting in, the Central Government, under section 4, of the shares held by the Company in the specified companies, there shall be paid by the Central to the Company in cash and in the manner specified in Chapter VI, an aggregate amount of rupees twenty-seven lakhs. (3) The amount specified in sub-section (1), and the amount specified in sub-section (2) shall carry simple interest of..... View Complete Act List Judgments citing this sectionTitle : Transfer To, and Vesting In, the Central Government of the Undertakings of the Two Companies
State : Central
Year : 1980
On the appointed day, the undertakings of each of the two companies, and the right, title and interest of each of the two companies in relation to its undertakings, shall, by virtue of the Act,. stand transferred to, and shall vest in, the Central Government. View Complete Act List Judgments citing this sectionTitle : Accounts and Audit
State : Central
Year : 1980
The Custodian or Custodians of the undertakings of either, or both, of the two companies shall maintain an account of the undertakings of the concerned company or companies in such form and manner and under such conditions as may be prescribed and the provisions of the Companies Act, 1956(1 of 1956), shall apply to the audit of the accounts so maintained as they apply to the audit of the accounts of a company. View Complete Act List Judgments citing this section