Bare Act Search Results

Companies Act, 1956 Chapter 6

Title: Prevention of Oppression and Mismanagement

State: Central

Year: 1956

.....1963, Section 11, for "are being conducted" (w.e.f. 1-1-1964). 3 . The words "or of its managing agent or secretaries and treasurers," omitted by Act 53 of 2000, Section 178 (w.e.f. 13-12-2000). 4 . Inserted by Act 65 of 1960, Section 153 (w.e.f. 28-12-1960). 5 . Certain words omitted by Act 53 of 2000, Section 178 (w.e.f. 13-12-2000). 6 . Substituted by Act 53 of 1963, Section 11, for "will be conducted" (w.e.f. 1-1-1964). Section 399 - Right to apply under sections 397 and 398 (1) The following members of a company shall have the right to apply under section 397 or 398:- (a) in the case of a company having a share capital, not less than one hundred members of the company or not less than one-tenth of the total number of its members, whichever is less or any members or members holding not less than one-tenth of the issued share capital of the company, provided that the applicant or applicants have paid all calls and other sums due on their shares; (b) in the case of a company not having a share capital, not less than one-fifth of the total number of its members. (2) For the purposes of sub-section (1), where any share or shares are held by two or more persons.....

Companies Act, 1956 Section 398

Title: Application to Tribunal for Relief in Cases of Mismanagement

State: Central

Year: 1956

.....or that by reason of any material change as aforesaid in the management or control of the company, it is likely that the affairs of the company will be conducted as aforesaid, the1[Tribunal] may, with a view to bringing to an end or preventing the matters complained of or apprehended, make such order as it thinks fit. ________________________ 1.Substituted by Act 31 of 1988, Section 67, for "Court" (w.e.f. 31-5-1991) and again Substituted by Act 11 of 2003, Section 44, for "Company Law Board". 2.Substituted by Act 53 of 1963, Section 11, for "are being conducted" (w.e.f. 1-1-1964). 3 . The words "or of its managing agent or secretaries and treasurers," omitted by Act 53 of 2000, Section 178 (w.e.f. 13-12-2000). 4 . Inserted by Act 65 of 1960, Section 153 (w.e.f. 28-12-1960). 5 . Certain words omitted by Act 53 of 2000, Section 178 (w.e.f. 13-12-2000). 6 . Substituted by Act 53 of 1963, Section 11, for "will be conducted" (w.e.f. 1-1-1964).

Companies Act, 2013, Chapter XVI

Title: Prevention of Oppression and Mismanagement

State: Central

Year: 2013

Chapter XVI PREVENTION OF OPPRESSION AND MISMANAGEMENT

Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972 Complete Act

State: Central

Year: 1972

.....abilities and obligations of whatever kind then subsisting of the old company in relation to the (2) Unless otherwise expressly provided by this Act, all contracts, deeds, bonds, powers of attorney, grants of legal representation and other instruments of whatever nature having effect immediately before the appointed day which relate to the undertaking of the old shall be of as full force and effect in favour of the Central Government, and on the transfer of undertaking to the new company, of such new company and may be enforced or acted upon as fully effectively as if they had related to the Central Government or the new company, as the case may (3)(a) If, on the appointed day, a proceeding instituted by the old company in relation to undertaking referred to in section 3-is pending, such proceeding may, as from that day be continue the Central Government or, on the transfer of the undertaking to the new company, by the new comp (b) If, on the appointed day, any cause of action is existing against the old company in the undertaking referred to in section 3-, such cause of action may, as from that day, be enforced the Central Government or, on the transfer of the undertaking to.....

Bird and Company Limited (Acquisition and Transfer of Undertakings and Other Properties) Act, 1980 Complete Act

State: Central

Year: 1980

.....to be provided by the Central Government 3. Messrs. Bird and Company Limited is a lading company in a group of 23 other companies engaged in manufacturing, mining, trading and investment activities. While two of the companies are subsidiaries of the Company, the other companies in the group are under varying degrees of control of the company through its direct shareholding or by shareholding by the investment companies in the group. The Company provides marketing and management services to some of the group companies. The manufacturing companies in the group are engaged in production of goods which are vital to the needs of' the country. There had been .several allegations against the management of some of these companies indicating misuse of the companies, mismanagement, misfeasance or malfeasance. The Company Law Board ordered investigations in 1977 under section 237 (b) of the Companies Act, 1956, in respect of some of these companies. Four of the companies have already been nationalised. Management of two of the companies has been taken over under the provisions of the Industries ( Development and Regulation) Act. 1951. It was in the public interest to acquire the.....

Birds & Company Limited Acquistion & Transfer of Undertakings & Other Properties Act, 1980 Preamble 1

Title: Bird and Company Limited ( Acquisition and Transfer of Undertakings ) Act, 1980

State: Central

Year: 1980

.....are not mismanaged and for matters connected therewith or incidental thereto. WHEREAS The Bird and Company Limited were engaged in the manufacture of E.O.T.cranes and other varieties of cranes; polystyrene based cation exchange resin; equipment for fertilizers, oil refineries, steel plants, petro-chemical and other industries; tanks and vessels of various shapes and sizes, water treatment equipment and other types of equipment for the control of water pollution and were also engaged in various other activities; and WHEREAS the top management of the Bird and Company Limited had so mismanaged the affairs of that Company as to cause heavy losses to the Company and had also managed the affairs of the Company in a manner prejudicial to the interests of the Company and the public interest; and WHEREAS in view of the mismanagement aforesaid, the Central Government had, in pursuance of the provisions of section 408 of the Companies Act, 1956( 1 of 1956 ), appointed six directors on the Board of directors of the Bird and Company Limited; and WHEREAS investment of a large amount is necessary for the maintenance and development of the production of the undertakings of the.....

Companies Act, 1956 Complete Act

State: Central

Year: 1956

.....as in the (Depositories Act, 1996) (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of (S.2 of the Securities Contracts (Regulation) Act, 1956) (42 of 1956);] (13) "director" includes any person occupying the position of director, by whatever name called; (14) "District Court" means the principal Civil Court of original jurisdiction in a district, but does not include a High Court in the exercise of its ordinary original civil jurisdiction ; [(14A) "dividend" includes any interim dividend;] (15) "document" includes summons, notice, requisition, order, other legal process, and registers, whether issued, sent or kept in pursuance of this or any other Act or otherwise ; [(15A) "employees stock option" means the option given to the whole-time directors, officers or employees of a company, which gives such directors, officers or employees the benefit or right to purchase or subscribe at a future date, the securities offered by the company at a pre-determined price;] (16) "existing company" means an existing company as defined in (section 3); (17) "financial year" means, in relation to any body corporate, the period in respect of which.....

Wakf Act, 1995 Chapter VI

Title: Maintenance of Accounts of Wakfs

State: Central

Year: 1995

.....time, modify the scheme in such manner as may be necessary to bring it in conformity with the directions of the wakf or of the provisions of this Act and the rules made thereunder. (2) Notwithstanding anything contained in this Act and in the deed of the wakf, the Board may, if it is satisfied, for reasons to be recorded in writing, that a committee, referred to in sub-section (1) is not functioning properly and satisfactorily, or that the wakf is being mismanaged and that in the interest of its proper management, it is necessary so to do, by an order, supersede such committee, and, on such supersession, any direction of the wakf, in so far as it relates to the constitution of the committee, shall cease to have any force: Provided that the Board shall, before making any order superseding any committee, issue a notice setting forth therein the reasons for the proposed action and calling upon the Committee to show cause within such time, not being less than one month, as may be specified in the notice, as to why such action shall not be taken. (3) Every order made by the Board under sub-section (2) shall be published in the prescribed manner and on such publication shall.....

Companies Act, 1956 Complete Act

Title: Companies Act, 1956

State: Central

Year: 1956

.....to winding up Section644 - Repeal of Acts specified in Schedule XII Section645 - Saving of orders, rules, etc., in force at commencement of Act Section646 - Saving of operation of section 138 of Act 7 of 1913 Section647 - Saving of pending proceedings for winding up Section647A - Transfer of winding up proceedings to Tribunal Section648 - Saving of prosecutions instituted by liquidator or court under section 237 of Act 7 of 1913 Section649 - Construction of references to former enactments in documents Section650 - Construction of "registrar of joint stock companies" in Act 21 of 1860 [Repealed] Section651 - Construction of references to extraordinary resolution in articles, etc. Section651A - Reference of winding up of companies in other laws Section652 - Appointment under previous companies laws to have effect as if made under Act Section653 - Former registration offices continued Section654 - Registers under previous companies laws to be deemed to be part of registers under Act Section655 - Funds and accounts under Act to be in continuation of funds and accounts under previous companies law Section656 - Saving of incorporation under repealed Acts .....

Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act, 1981 Complete Act

State: Central

Year: 1981

.....giving them any retrenchment benefits, the State Government of Haryana has been continuously urging the Government of India to take over this factory in view of the fact that a large number of employees will be thrown out of employment, if the factory is permanently closed down. The State Government of Haryana has indicated that owing to financial constraints and lack of technical expertise, the State Government is not in a position to take over this cement factory for restarting and running it. 3. The liability of the factory on its restart has been assesed and in the interest of restarting production of cement and also to provide employment to the workers, the Central Government had decided that it would be in the public interest to acquire the cement factory of this company and to transfer it to the Cement Corporation of India which is a public sector undertaking engaged in the manufacture and sale of cement. 4. The Bill seeks to give effect to the above object- Gaz. of Ind., 5-5-1981, Pt. II. S. 2 Ext., p. 361. An Act to provide for the acquisition and transfer of the undertakings of the Dalmia Dadri Cement Limited with a view to securing the proper management of such.....