Bare Act Search Results

Delhi Cooperative Societies Act, 1972 Complete Act

State: Delhi

Year: 1972

.....to receive, on the issue of the order of amalgamation, division or reorganisation, his share or interest, if he be a member and the amount in satisfaction of his dues, if he be a creditor (5) On the issue of an order under sub-section (1), the provisions of subsections (2) , (3) and (4) of Section 19 shall apply to the co-operative societies so amalgamated, divided or re-organised as if the amalgamation, division or reorganisation had been made under Section 15 Section17 Registrar to prepare scheme of amalgamation of co-operative bank in certain cases When an order of moratorium has been made by the Central Government under sub-section (2) of Section 45 of the Banking Regulation Act, 1949, in respect of a co-operative bank, the Registrar with the previous approval of the Reserve Bank in writing, may, during the period of moratorium, prepare a scheme (a) for the reorganisation of the Co-operative Bank; or (b) for the amalgamation of the co-operative bank with any other cooperative bank Section18 Liability of a co-operative bank to the Deposit Insurance Corporation Notwithstanding anything contained in Sections 15 and 16 or any other provision of this Act, where a.....

The Pondicherry Cooperative Societies Act, 1972 Complete Act

State: Pondicherry

Year: 1972

.....conveyance to vest in it all the assets and liabilities of the original societies and the repayment of the share capital of the members and the satisfaction of the claims of the creditors, if any, referred to in sub-section (4) shall be made by the amalgamated society within such time as the Registrar may fix. Reconstruction of societies:- 16. Where a proposal for a compromise or arrangement- (a) between a registered society and its creditors; or (b) between a registered society and its members, is approved at a special general meeting called for the purpose, the Registrar may, one the application of the society or of any member or of any creditor of the society, or in the case of a society which is being wound up, the Liquidator, order reconstruction, in the prescribed manner, of the society. Joint ventures of societies:- 17. Any two or more registered societies may, with the prior approval of the Registrar, by resolution passed by two-thirds majority of the majority of the members present and voting at a general meeting of each such society, enter into an agreement for carrying out any specific business or businesses : Provided that each member has had clear ten.....

Companies Act, 1956 Part 7

Title: Winding Up

State: Central

Year: 1956

.....pay the sum so due and the company has for three weeks thereafter neglected to pay the sum, or to secure or compound for it to the reasonable satisfaction of the creditor; (b) if execution or other process issued on a decree or order of2[any court or Tr i bunal] in favour of a creditor of the company is returned unsatisfied in whole or in part; or (c) if it is proved to the satisfaction of the3[Tribunal] that the company is unable to pay its debts, and, in determining whether a company is unable to pay its debts, the3[Tribunal] shall take into account the contingent and prospective liabilities of the company. (2) The demand referred to in clause (a) of sub-section (1) shall be deemed to have been duly given under the hand of the creditor if it is signed by any agent or legal adviser duly authorised on his behalf, or in the case of a firm, if it is signed by any such agent or legal adviser or by any member of the firm. _____________________ 1. Substituted by Act 11 of 2003, Section 52, for "five hundred rupees". 2. Substituted by Act 11 of 2003, Section 52, for "any Court" . 3. Substituted by Act 11 of 2003, Section 52, for "Court". Section 435 to 438 - *** .....

Banking Regulation Act, 1949 Part 3

Title: Suspension of Business and Winding Up of Banking Companies

State: Central

Year: 1949

.....in the opinion of the Reserve Bank- (i) a compromise or arrangement sanctioned by a court in respect of the banking company cannot be worked satisfactorily with or without modifications; or (ii) the returns, statements or information furnished to it under or in pursuance of the provisions of this Act disclose that the banking company is unable to pay its debts; or (iii) the continuance of the banking company is prejudicial to the interests of its depositors. (4) Without prejudice to the provisions contained in section 434 of the Companies Act, 1956 (I of 1956) a banking company shall be deemed to be unable to pay its debts if it has refused to meet any lawful demand made at any of its offices or branches within two working days, if such demand is made at a place where there is an office, branch or agency of the Reserve Bank, or within five working days, if such demand is made elsewhere, and if the Reserve Bank certifies in writing that the banking company is unable to pay its debts. (5) A copy of every application made by the Reserve Bank under sub-section (1) shall be sent by the Reserve Bank to the registrar. ] ______________________ 1. Substituted by Act 33 of.....

Companies Act, 1956 Chapter 5

Title: Provisions Applicable to Every Mode of Winding Up

State: Central

Year: 1956

.....amount as the1[Tribunal] may, on the application of the liquidator, authorise him to retain, then, unless he explains the retention to the satisfaction of the1[Tribunal], he shall - (a) pay interest on the amount so retained in excess, at the rate of twelve per cent, per annum and also pay such penalty as may be determined by the Registrar; (b) be liable to pay any expenses occasioned by reason of his default; and (c) also be liable to have all or such part of his remuneration as the1[Tribunal] may think just disallowed, and to be removed from his office by the1[Tribunal]. _____________________ 1. Substituted by Act 11 of 2003, Section 108, for "Court". Section 554 - Liquidator not to pay moneys into private banking account Neither the Official Liquidator nor any other liquidator of a company shall pay any moneys received by him in his capacity as such into any private banking account. Section 555 - Unpaid dividends and undistributed assets to be paid into the Companies Liquidation Account 1 [(1) Where any company is being wound up, if the liquidator has in his hands or under his control any money representing - (a) dividends payable to any creditor.....

The Maharashtra Universities Act, 1994 Complete Act

State: Maharashtra

Year: 1994

.....course, have dealt with the matter. In the event of a difference arising between the Vice Chancellor and the authority or body whether there was in fact an emergency, or on the action taken (where such .action does not affect any person in the service of the university), or on both, the matter shall be referred to the Chancellor whose decision shall be final: Provided that, where any such action taken by the Vice-Chancellor affects any person in the service of the university, such person shall be entitled to prefer, within thirty days from the date on which he receives notice of such action, an appeal to the Management Council. (8) Where any matter is required to be regulated by the Statutes, Ordinances or Regulations, but no Statutes, Ordinances or Regulations are made in that behalf the Vice-Chancellor may, for the time being, regulate matter by issuing such directions as he thinks necessary, and shall at the earliest opportunity thereafter, place them before the Management Council or other authority or body concerned for approval. He may, at the same time, place before such authority or body for consideration the draft of the Statutes, Ordinances or Regulations, as the case.....

Companies Act, 1956 Schedule 6

Title: Schedule 6

State: Central

Year: 1956

.....loans and advances have not 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. (n) Except in the case of the first balance-sheet laid before the company after the commencement of the Act, the corresponding amounts for the immediately preceding financial year for all items shown in the balance-sheet shall be also given in the balance-sheet. The requirement in this behalf shall, in the case of companies preparing quarterly or half-yearly accounts, etc., relate to the balance-sheet for the corresponding date in the previous year. (o) The amounts to be shown under Sundry Debtors shall include the amounts due in respect of goods sold or services rendered or in respect of goods sold or services rendered or in respect of other contractual obligations but shall not include the amounts which are in the nature of loans or advances. 4[(p) Current accounts with directors, 9[***] and manager, whether they are in credit or debit, shall be shown separately.] 35[(q) the terms 'appointed day', 'buyer', 'enterprise', 'micro enterprise', 'small enterprise' and.....

The Madras Electricity Supply Undertakings (Acquisition) Act, 1954 Complete Act

State: Kerala

Year: 1954

.....nor shall the service of such notice be deemed to prevent the Government from taking any proceeding de novo in respect of the undertaking under this Act. Section 4 - Power of Government to take over any undertaking (1) The Government may, in respect of any undertaking not taken over by them before the commencement of this Act, by order in writing, declare that it shall vest in them on the date specified therein, such date not being earlier than four months from the date of the declaration: Provided that the Government may, from time to time, postpone such date, so however that the postponed date shall not be later than one year from the date originally fixed. (2) Every order under sub-section (1) shall be served on the licensee in the prescribed manner and shall also be published in such manner as the Government think fit. Section 5 - Compensation payable to a licensee (1) The compensation payable to a licensee, on whom an order has been served under section 4 or whose undertaking has been taken over before the commencement of this Act, shall be determined under any one of the Basis A, B and C specified below, as may be chosen under section 8. (1) Basis A.- (i).....

Manipur Panchayati Raj Act, 1994 Section 57

Title: Resignation or Removal of the Adhyaksha and Up-adhyaksha

State: Central

Year: 1994

.....the Commissioner, and the Up-Adhyaksha may resign his office by writing under his hand addressed to the Adhyaksha. (2) Every resignation under sub-section (1) shall take effect on the expiry of fifteen days from the date of its receipt by the prescribed authority, unless within this period of fifteen days he withdraws such resignation by writing under his hand addressed to the prescribed authority. (3) Every Adhyaksha or Up-Adhyaksha shall vacate the office if he ceases to be a member of the Zilla Parishad. (4) Every Adhyaksha or Up-Adhyaksha shall be deemed to have vacated his office forthwith if a resolution expressing want of confidence in him is passed by a majority of the total number of elected members of the territorial constituencies of the Zilla Parishad at a meeting specially convened for the purpose. The requisition for such a special meeting shall be signed by not less than one-fifth of the total membership of the Zilla Parishad and shall be delivered to the Adhyaksha. The Adhyaksha shall, within seven days from the date of receipt of the requisition, convene a special meeting of the Zilla Parishad. The meeting shall be held on a day not later than fifteen days.....

Karnataka Souharda Sahakari Act, 1997 Chapter VII

Title: Winding Up of Co--operatives

State: Karnataka

Year: 1997

.....on business for two consecutive years; or (c) is no longer operating in accordance with the co-operative principles and the provisions of this Act, rules and the bye-laws of the Co-operative, he may suomotu, require the Chief Executive of the Co-operative to intimate whether suchCo-operative is carrying on business or is submitting annual returns. (3) If no reply is received from the Chief Executive within one month, the Registrar shall within fourteen days after the expiry of the said period record that no reply has been received by him and shall publish a notice in the newspaper having wide circulation in the local area to wind up theCo-operative. (4) If the Registrar receives a reply from theCo-operative that it is not carrying on business or is not in operation or does not wish to continue as aCo-operative or can not submit an annual return, he shall publish in the newspaper and send to theCo-operative a notice specifying the date on the expiry of which the Co-operative shall, unless cause is shown to the contrary, be wound up. (5) If the Registrar after considering the reply, if any, issatisfied.- (i) that the Co-operative has no assets and liabilities, he.....