Bare Act Search Results

Preference Shares (Regulation of Dividends) Act, 1960 Section 3

Title: Regulation of Dividends on Preference Shares in Certain Cases

State: Central

Year: 1960

.....the stipulated dividend in the cases refereed to in sub-section (1), or (ii) by eleven per cent of the stipulated dividend in the cases referred to in sub-section (3). (5) For the purposes of sub-section (1), sub-section (3) and sub-section (4), any reference therein to the stipulated dividend shall, in respect of a preference share issued and subscribed for on or before the 31st March, 1959, be construed as a reference to the stipulated dividend as on that day. (6) For the removal of doubts, it is hereby declared that nay reference in this section and section 4A to deduction made form a dividend on account of income-tax payable by the company does not include nay amount deducted by the company from the dividend under Section 194 of the Income-tax Act, 1961 (43 of 1961).

Recovery of Debts Due to Banks and Financial Institutions Act, 1993 Chapter 5

Title: Recovery of Debt Determined by Tribunal

State: Central

Year: 1993

.....as if the said provisions and the rules referred to the amount of debt due under this Act instead of to the Income-tax: Provided that any reference under the said provisions and the rules to the "assessee" shall be construed as a reference to the defendant under this Act. Section 30 - Appeal against the order of Recovery Officer 1[30. Appeal against the order of Recovery Officer (1) Notwithstanding anything contained in section 29, any person aggrieved by an order of the Recovery Officer made under this Act may, within thirty days from the date on which a copy of the order is issued to him, prefer an appeal to the Tribunal. (2) On receipt of an appeal under sub-section (1), the Tribunal may, after giving an opportunity to the appellant to be heard, and after making such inquiry as it deems fit, confirm, modify or set aside the order made by the Recovery Officer in exercise of his powers under sections 25 to 28 (both inclusive).] ________________________ 1. Substituted by Act 1 of 2000, section 12, for section 30 (w.r.e.f. 17-1-2000).

Industries (Development and Regulation) Act, 1951 Section 29D

Title: Debts Incurred by the Authorized Person to Have Priority

State: Central

Year: 1951

1 [29-D. Debts incurred by the authorized person to have priority Every debt arising out of any loan obtained by the authorised person for carrying on the management of, or exercising function of control in relation to, an industrial undertaking or part thereof, the management of which has been taken over under Section 18-A or Section 18-AA or Section 18-FA,-- (a) shall have priority over all other debts, whether secured or unsecured, incurred before the management of such industrial undertaking was taken over, (b) shall be a preferential debt within the meaning of Section 530 of the Companies Act, 1956 (1 of 1956), and such debts shall rank equally among themselves and be paid in full out of the assets of the industrial undertakings unless such assets are insufficient to meet them, in which case they shall abate in equal proportions.] _____________________________ 1. Inserted by Act 72 of 1971, Section 8 (w.e.f. 1st November, 1971).

Tea Act, 1953 Section 16LL

Title: Debts Incurred and Investments Made by the Authorised Person to Have Priority

State: Central

Year: 1953

.....or tea unit was taken over; (b) shall be preferential debt within the meaning of section 530 of the Companies Act, 1956, and all such debts shall rank equally among themselves and be paid in full out of the assets of the tea undertaking or tea unit, unless such assets are insufficient to meet them, in which case they shall be recoverable from the owner of the tea undertaking or tea unit as arrears of land revenue notwithstanding that the period of management or control has ended due to expiry of the period for which it was taken over or due to cancellation of the order under section 16H or in pursuance of the order of any court.] ________________________ 1. Inserted by Tea (Amendment) Act (68 of 1980), Section 4 (w.e.f. 11-10-76).

Sick Textile Undertakings (Taking over of Management) Act, 1972 Section 14

Title: Debts Incurred for the Purposes of Textile Undertaking to Have Priority

State: Central

Year: 1972

Every debt arising out of any loan advanced to a sick textile undertaking by the Central Government or a State Government for carrying on the management of any sick textile undertaking specified in the First Schedule, (a) shall have priority over all other debts, whether secured or unsecured, incurred before the management of such textile undertaking was taken over under this Act; (b) shall be a preferential debt within the meaning of section 530 of the Companies Act, 1956, and such debts shall rank equally among themselves and be paid in full out of the assets of the sick textile undertaking unless such assets are insufficient to meet them, in which case they shall abate in equal proportions.

Sugar Undertakings (Taking over of Management) Act, 1978 Section 15

Title: Debts Incurred for the Purposes of Notified Sugar Undertakings to Have Priority

State: Central

Year: 1978

Every debt arising out of any loan advanced to a notified sugar undertaking by the Central Government or a State Government for carrying on the management of such undertaking (a) shall have priority over all other debts, whether secured or unsecured, incurred before the management of such undertaking was taken over under this Act; (b) shall be a preferential debt within the meaning of section 530 of the Companies Act, 1956. and such debts shall rank equally among themselves and be paid in full out of the assets of the undertaking unless such assets are insufficient to meet them, in which case they shall abate in equal proportions.

The Tamil Nadu Indebted Agriculturists Repayment of Debts) Act, 1955) Complete Act

State: Tamil Nadu

Year: 1955

THE TAMIL NADU INDEBTED AGRICULTURISTS REPAYMENT OF DEBTS) ACT, 1955) THE [TAMIL NADU] INDEBTED AGRICULTURISTS (REPAYMENT OF DEBTS) ACT, 1955). [ACT 1 OF 1955] CONTENTS 1. Short title extent and commencement 2. Definitions 3. Bar of suits and applications 4. Payment of debt in installments 5. Deposit of debt into Court. 6. Appeals. 7. Presumption as to transfer of immoveable property of the debtor. 8. Exclusion of time for limitation. 9. Effect of payment or deposit under section 4 or section 5. 10. Power to make rules. [Received the assent of the president on 27.2.55 and first published on 1.3.55] An Act to give relief to indebted agriculturists in the [State of Tamil Nadu]. WHEREAS it is expedient to enable the indebted agriculturists to repay their debts in easy installments; Be it enacted in the Sixth Year of the republic of India as follows:-- 1. SHORT TITLE, EXTENT AND COMMENCEMENT " (1) This Act may called the 1 Substituted by the Tamil Nadu Adaptation of Laws Order 1967 as amended by the Tamil Nadu adaptation of Laws (Second Amendment) Order 1969. [Tamil Nadu], Indebted Agriculturists (Repayment of Debts).....

Recovery of Debts Due to Banks and Financial Institutions Act, 1993 Section 21

Title: Deposit of Amount of Debt Due, on Filing Appeal

State: Central

Year: 1993

Where an appeal is preferred by any person from whom the amount of debt is due to a bank or a financial institution or a consortium of banks or financial institutions, such appeal shall not be entertained by the Appellate Tribunal unless such person has deposited with the Appellate Tribunal seventy-five per cent, of the amount of debt so due from him as determined by the Tribunal under section 19: Provided that the Appellate Tribunal may, for reasons to be recorded in writing, waive or reduce the amount to be deposited under this section.

Displaced Persons (Debts Adjustment) Act, 1951 Section 32

Title: Scaling Down of Debts

State: Central

Year: 1951

.....realise any money from the assets of the debtor in India. (6) For the purposes of this Act, the amount payable from the compensation for the satisfaction of the second part of the decree shall be that amount as bears to the aggregate amount of all the debts in the second part of the decree [including therein any sum added to it under sub-section (5) and the sum determined in favour of the secured creditor in the manner specified in the proviso to clause (a) of sub-section (3) of section 16] as the compensation in respect of the property of the debtor payable to him under the Displace Persons (Claims) Act, 1950 (XLIV of 1930) bears to the verified claim; and the balance of the compensation, if any shall be, refunded to the displaced debtor. (7) Every instalment paid by the displaced debtor in respect of the first part of the decree and any sum payable from the compensation in accordance with sub-section (6) shall be distributed rateably amongst the decree-holders, if more persons than one are entitled thereto: Provided that the secured creditor who has not elected to be treated as an unsecured creditor under section 76 shall be entitled to a prior charge on the amount.....

Displaced Persons Debts Adjustment Act, 1951 Section 32

Title: Scaling Down of Debts

State: Central

Year: 1951

.....realise any money from the assets of the debtor in India. (6) For the purposes of this Act, the amount payable from the compensation for the satisfaction of the second part of the decree shall be that amount as bears to the aggregate amount of all the debts in the second part of the decree [including therein any sum added to it under sub-section (5) and the sum determined in favour of the secured creditor in the manner specified in the proviso to clause (a) of sub-section (3) of section 16] as the compensation in respect of the property of the debtor payable to him under the Displace Persons (Claims) Act, 1950 (XLIV of 1930) bears to the verified claim; and the balance of the compensation, if any shall be, refunded to the displaced debtor. (7) Every instalment paid by the displaced debtor in respect of the first part of the decree and any sum payable from the compensation in accordance with sub-section (6) shall be distributed rateably amongst the decree-holders, if more persons than one are entitled thereto: Provided that the secured creditor who has not elected to be treated as an unsecured creditor under section 76 shall be entitled to a prior charge on the amount.....