Bare Act Search Results

Banking Regulation Act, 1949 Section 41A

Title: Notice to Preferential Claimants and Secured and Unsecured Creditors

State: Central

Year: 1949

.....depositors), by notice served in such manner as the Reserve Bank may direct, call upon (a) every claimant entitled to preferential payment under section 530 of the Companies Act, 1956(1 of 1956), and (b) every secured and every unsecured creditor, to send to the official liquidator within one month from the date of the service of the notice a statement of the amount claimed by him. (2) Every notice under sub-section (1) sent to a claimant having a claim under section 530 of the Companies Act, 1956 (1 of 1956), shall state that if a statement of the claim is not sent to the official liquidator before the expiry of the period of one month from the date of the service, the claim shall not be treated as a claim entitled to be paid under section 530 of the Companies Act, 1956, in priority to all other debts but shall be treated as an ordinary debt due by the banking company. (3) Every notice under sub-section (1) sent to a secured creditor shall require him to value his security before the expiry of the period of one month from the date of the service of the notice and shall state that if a statement of the claim together with the valuation of the security is not sent to the.....

Banking Regulation Act, 1949 Complete Act

State: Central

Year: 1949

.....on 19-9-1949. This Act now incorporates the provisions contained therein in the Banking Companies Act. 1949 as a pernabebt basis, in addition. this Act also amends the said Act for the following purposes :- (a) to incorporate special provisions for facilitating quick amalgamations between banking companies: (b) to empower the Reserve Bank to control opening of branches by Indian banks in foreign countries: (c) to provide a meaning of the terms "assets in India" for the purpose of section 25.-Gaz. of Ind.. 24-12-1949. Pt. V. p:501. Act 52 of 1953.- The Banking Companies Act. 1949 (X of 1949) was passed to ensure proper administration of the banking companies in India. The liquidation of banks, however, continued to be governed by the provisions of the Indian Companies Act, 1913. Experience of the liquidation of a large number of banks that failed during the post-war and post-partition period disclosed that the procedure for the liquidation of joint stock companies was totally inadequate for the liquidation of banking companies in a manner satisfactory to the depositors. A bank has a far larger number of debtors than a joint stock company of a comparable size, and the necessity to.....

Coal Mines (Nationalisation) Act, 1973 Complete Act

State: Central

Year: 1973

.....the above two Acts. Some of the important amendments which the Ordinance proposed were as follows:- (a) the definition of "mine'' inthe Coking Coal Actandthe Coal Mines Actincluded all coal and coke belonging to the owner of the mine whether in stock or in transit and all coal under production in a mine on a day immediately prior to the date on which the coal mines were nationalised. Accordingly, the amounts specified in the Schedules to the two Acts included the value of the coke and coal in stock lying at the mines at the time of nationalisation. The Supreme Court, however, in a recent case, while agreeing with the contention that the coke and coal stocks lying at the mine vested in the Government as a result of nationalisation, took the view that the value of coke and coal stocks had to be taken into account for balancing the position of accounts as on the date immediately preceding the date of nationaliiation. This would have involved double payment of the amount in as much as the value of the coke and coal stocks had already been included in the amounts mentioned in the Schedules to the Acts against each coal mine. In order to make the intention clear sections 10and22 of.....

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.....

The Bombay Agricultural Debtors Relief Act, 1947 Complete Act

State: Maharashtra

Year: 1947

THE BOMBAY AGRICULTURAL DEBTORS RELIEF ACT, 1947 THE BOMBAY AGRICULTURAL DEBTORS RELIEF ACT, 1947 Bombay Act No.XXVIII of 1947, [27th May 1947] An Act to consolidate and amend the law for the Relief of Agricultural Debtors in the Province of Bombay. WHEREAS it is expedient to consolidate and amend the law for the relief of agricultural debtors in the Province of Bombay and for certain other purposes specified herein; It is hereby enacted as follows: CHAPTER I PRELIMINARY SECTION 01: SHORT TITLE AND EXTENT (l) This Act may be called the Bombay Agricultural Debtors Relief Act, 1947. (2) it extends to the whole of the '(State] of Bombay except the City of Bombay. SECTION 02: DEFINITIONS: -IN THIS ACT. UNLESS THERE IS ANYTHING REPUGNANT IN THE SUBJECT OR CONTEXT (l) "award" means an award made under subsection (4) of section 8 or section 9, 32 or 33 or as confirmed or modified by the Court in appeal; (2) ''Co-operative society" means a society registered under the Provisions of the Bombay Cooperative Societies Act, 1925; (3) "Court" means the court of the Civil Judge (Senior Division ), having ordinary jurisdiction in the area where the debtor ordinarily resides and if.....

Coal Mines (Nationalisation) Act, 1973 Chapter VI

Title: Commissioner of Payments

State: Central

Year: 1973

.....the operations of which were immediately before the taking over the management of such coal mine under the Coal Mines (Taking Over of Management) Act, 1973, under the control of a managing contractor, the amount specified in the fifth column of the Schedule against such coal mine shall be apportioned between the owner of the coal mine and such managing contractor in such proportions as may be agreed upon by or between the owner and such managing contractor, and in the event of there being no such agreement, in such proportions as may be determined by the Court on a reference made to it by the Commissioner. (5) Where any machinery, equipment or other property in a Coal Mine has vested in the Central Government or a Government company under this Act, but such machinery, equipment or other property does not belong to the owner of such coal mine, the amount specified in the fifth column of the Schedule against such coal mine shall, on a reference made to it by the Commissioner, be apportioned by the Court between the owner of such coal mine and the owner of such machinery, equipment or other property having due regard to the value of such machinery, equipment or other property.....

Companies Act, 2013, Schedule

Title: Schedule Iii

State: Central

Year: 2013

.....investments do not have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated, the fact that the Board is of that opinion, shall be stated. PART II - STATEMENT OF PROFIT AND LOSS Name of the Company......................... Profit and loss statement for the year ended ........................... (Rupees in............) Particulars Note No. Figures as at the end of current reporting period Figures as at the end of the previous reporting period 1 2 3 4 I. Revenue from operations xxx xxx II. Other income xxx xxx III. Total Revenue (I + II) xxx xxx IV. Expenses: Cost of materials consumed Purchases of Stock-in-Trade Changes in inventories of finished goods xxx xxx work-in-progress and xxx xxx Stock-in-Trade xxx xxx Employee benefits expense xxx xxx Finance costs Depreciation and amortisation expense Other expenses Total expenses xxx xxx V. Profit before exceptional and extraordinary items and tax (III - IV) xxx xxx VI. Exceptional items xxx xxx VII. Profit before.....

Companies Act, 1913 Complete Act

State: Central

Year: 1913

.....its ordinary original civil jurisdiction; (7) "existing company "means a company formed and registered under the (Companies Act, 1866), or under any Act or Acts repealed thereby, or under (Companies Act, 1882): (8) " Insurance company " means a company that carries on the business of insurance either solely or in common with any other business or businesses: (9) "manager " means a person who, subject to the control and direction of the directors has the management of the whole affairs of a company, and includes a director or any other person occupying the position of a manager by whatever name called and whether under a contract of service or not: (9A) " managing agent " means a person, firm or company entitled to the management of the whole affairs of a company by virtue of an agreement with the company, and under the control and direction of the directors except to the extent, if any, otherwise provided for in the agreement and includes any person, firm or company occupying such position by whatever name called : Explanation.-If a person occupying the position of a managing agent calls himself a manager he shall nevertheless be regarded as managing agent and not as manager for.....

Assam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Chapter VI

Title: Commissioner of Payments

State: Central

Year: 1976

.....of the Company. Section 16 - Priority of claims in relation to arrears of provident fund, etc. (1) Out of the amount paid to him under sub-section (1) of section 15, the Commissioner shall deduct in the first instance, all sums equal to the amount of arrears due to the persons who were in employment of the Company, in connection with the Refractory Plant, on the 1st day of July, 1973,-- (a) in relation to a provident fund, pension fund or any other fund established for the welfare of such persons, (b) as wages. (2) All sums deducted under sub-section (1) shall, in accordance with such rules as may be made under this Act, be credited by the Commissioner to the relevant fund or paid by him to the persons to whom the said sums are due and on such credit or payment, the liability of the Company in respect of the amount of arrears due as aforesaid shall, to the extent of such credit or payment, stand discharged. (3) Every deduction made under sub-section (1) shall have priority over all other debts, whether secured or unsecured. Section 17 - Priority in relation to other claims (1) Save as therwise provided in section 16, every secured debt due from the company.....

Assam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Complete Act

State: Central

Year: 1976

.....company as defined in (Companies Act, 1956) and having its registered office at Gauhati in the State of Assam; (d) "Refractory Plant" means the refractory manufacturing plant, owned by the Company, situated near Ramgarh in the State of Bihar; (e) "specified date" means such date as the Central Government may, by notification in the Official Gazette, specify in re!ation to any provision of this Act and differentiates may be specified in relation to different provisions of this Act; (f) words and expressions used herein and not defined but defined in (Companies Act, 1956) have the meanings respectively assigned to them in that Act. CHAPTER 2: ACQUISITION OF THE REFRACTORY PLANT: SECTION 3: Refractory Plant to vest in the Central Government: On the appointed day, the Refractory Plant shall, by virtue of this Act, stand transferred to, and the right, title and interest of the Company in relation to its Refractory Plant shall vest absolutely in, the Central Government. SECTION 4: Power of Central Government to direct vesting of the Refractory Plant in a Government company: (1) Notwithstanding anything contained in (section 3), the Central Government may, if it is.....