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industrial Development Bank of India and ors. Vs. B. Ananthaswami and ...

Court : Chennai

Subject : Company

Acts : Capital Issues (Control) Act, 1947 - Sections 2, 3 and 3(2); Companies Act, 1956 - Sections 75(1) and 155

Reported in : [1986]60CompCas99(Mad)

the petition may be delineated as follows : On March 15, 1974, the first respondent applied under the Capital Issues (Control) Act, 1947 (XXIX of 1947), of the consent of the Central Government for its proposal to issue 13 lakhs equity … C.P. No. 36 of 1978. The appellants herein are respondents Nos. 16, 17 and 15, respectively; first respondents Nos. 2 to 15 herein are respondents … to the parties as they stood arrayed in the company petition. The company petition was one presented under section 155 of the Companies Act, 1956 (1 of 1956) (hereinafter referred to as 'the Act'), for rectification of

Shashichand JaIn and Others Vs. Union of India and Others

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 276C, 277 and 279(1A); Wealth Tax Act, 1957 - Sections 7, 17, 18(1), 34AB, 35A(1) and 35D

Reported in : 1994(3)BomCR270; [1995]213ITR184(Bom)

rent to the said company. The premises were covered by the Bombay Rents Hotel and Lodging House Rates (Control) Act, 1947. The said company entered into an agreement dated March 10, 1966, with another company known as Carmichael Properties … which was owned by one Sahu Brothers (Saurashtra) Pvt. Ltd. The share capital in this company was held by some of the tenants. Each of … to wealth-tax. Between March 27, 1975 and February 16, 1978, notices were issued to them under section 17 of the Wealth-tax Act for reopening wealth-tax … asset liable to wealth-tax. Between March 27, 1975 and February 16, 1978, notices were issued to them under section 17 of the Wealth-tax Act for reopening wealth-tax assessment of the petitioners for the assessment years 1966-67 to 1971-72.

Narendra Kumar Maheshwari Vs. Union of India (Uoi) and ors.

Court : Supreme Court of India

Subject : Company

Acts : Constitution of India - Articles 12, 14, 19(1), 38, 39, 136 and 226; Companies Act, 1956 - Sections 2(12) and 123; Administrative Law; Monopolies and Restrictive Trade Practices Act; Companies Act, 1956 - Sections 2(12) and 123; Transfer of Property Act, 1882 - Sections 48; Capital Issues(Control) Act, 1947 - Sections 3 and 12

Reported in : AIR1989SC2138; (1989)2CompLJ95(SC); JT1989(2)SC338; 1989(1)SCALE1353; 1990Supp(1)SCC440; [1989]3SCR43

necessary to set out in detail these proposals. On 4th July, 1988, CCI granted the consent under the Capital Issues (Control) Act, 1947 to the public issue. There were variations between the proposal and the Order of consent of the CCI.50. … 1st September, 1988 and ending on 10th November, 1988 had to be strictly adhered to. The provisions of Section 73 and other applicable provisions of the Companies Act, 1956, the provisions of the Securities (Contract and Regulation) … that the four writ petitions and one civil suit i.e., W.P. No. 1791/88 pending before the Delhi High Court, W.P. No. 2708/88 pending before the

Consumer Education and Research Vs. T.T.K. Pharma Ltd. and ors.

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

Subject : MRTP

Reported in : (1990)68CompCas89NULL

the public issue had been expressly authorised and approved by the Central Government under the provisions of the Capital Issues (Control) Act, 1947, no order under Section 37 could be passed and also registration of any agreement regarding this issue is … stand disposed of. The remaining enquiries bear Restrictive Trade Practices Enquiry Nos. 158 to 185 of 1986 (except 178 of 1986) 72, 149, 148, 49 and 138 of 1986. A copy of the judgment is being placed

Madan Gopal Jajoo and Others Vs. Union of India and Others

Court : Delhi

Subject : Company

Acts : Capital Issue (Control) Act, 1947 - Sections 3(6); Companies Act, 1956 - Sections 61, 62 and 63; Constitution of India - Article 226; Capital Issues (Application for Consent) Rules, 1966

Reported in : AIR1992Delhi253; [1996]85CompCas153(Delhi); ILR1992Delhi877

of Economic Affairs and the second is the Controller of Capital Issues (CCI) exercising its functions under the Capital Issues (Control) Act, 1947 (for short 'the Act).2. The petitioners have sought a writ of certiorari, or any other writ, or direction … R. Jha) Deputy Controller of Capital Issues Copy to:-1. The ROC, Maharashtra, Bombay.2. RBI, SCD, Co, Bombay.3. S.E. Section.4. Guard File 5. Reliance Industries Limited. (R. R. Jha) Deputy Controller of Capital Issues'How this amendment order came

In Re: Novopan India Limited;

Court : Andhra Pradesh

Subject : Company

Acts : Capital Issues (Control) Act, 1947 - Sections 3; Companies Act, 1956 - Sections 21, 81, 100, 101, 101(2), 102, 102(1), 102(2), 173, 176, 391, 391(1), 391(2), 393, 393(1), 394 and 394A; Companies (Court) Rules, 1959 - Rule 85

Reported in : [1997]88CompCas596(AP)

(xiii) Though fresh capital cannot be issued without the permission of the Controller of Capital Issues under the Capital Issues (Control) Act, 1947, section 3, where a scheme envisages increase of capital the fact that permission for issue of fresh capital was … Rules, 1959 (for short 'the Rules'), and that voting by proxy shall be permitted as prescribed under section 176 of the Act read with the articles of association. 4. A notice was served on the Central Government

United Bank of India Ltd. Vs. United India Credit and Development Comp ...

Court : Kolkata

Subject : Company

Acts : Companies Act, 1956 - Sections 53, 53(3), 173, 372, 372(13), 372(14), 391, 392, 393 and 394; ;Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 - Section 6; ;Banking Regulation Act, 1949; ;Enemy Properties Act, 1968 - Sections 2, 7(3) and 8(1)

Reported in : [1977]47CompCas689(Cal)

para. 8 and the scheme of amalgamation, para. 5. He referred to Sections 3 and 5 of the Capital Issues (Control) Act, 1947, whereunder there is a complete prohibition of issues of shares without permission of the Controller of Capital Issues … ultra vires the company and cannot be sanctioned. Mr. Bachawat also submitted that under the Companies Act, 1956, Section 17(1)(g) read with Section 391(1) refers to power to amalgamate. He also referred to Palmer's Company Law, 21st edition,

Hindustan Lever Employees Union Vs. Hindustan Lever Ltd. and Others

Court : Mumbai

Subject : Company

Acts : Companies Act, 1956 - Sections 81(1) and (1A), 173, 391, 391(1) and (7), 393(1), 394 and 394A

Reported in : 1994(4)BomCR465; [1995]83CompCas1(Bom); (1995)ILLJ1099Bom

the solitary control on the price of shares, viz., sanction of the Controller of Capital Issues under the Capital Issues (Control) Act, 1947, was abolished by the Government of India by repealing the said Act on May 29, 1992. Consequent on … V.A. Mohta, J.1. These are five appeals under section 391(7) of the Companies Act, 1956 ('the Act'), against a common order dated March 3, 1994, made by … the notice of the special general meeting of the company under section 173 under which a statement setting out all material facts concerning each item

In Re: Wood Polymer Limited; in Re: Bengal Hotels Pvt. Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Companies Act, 1956 - Sections 391(1), 391(2), 394 and 396; Income Tax Act, 1961 - Sections 45 and 47

Reported in : [1977]109ITR177(Guj)

debentures by certain public limited companies from the provisions contained in Sections 3, 4 and 5 of the Capital Issues (Control) Act, 1947. There is a long proviso to this clause and sub-para. 4 of the proviso provides for the issue … 10 and 12 of 1975 are filed by Wood Polymer Limited and Bengal Hotels Private Limited, respectively, under Section 391(2) of the Companies Act, praying for according sanction to a scheme of amalgamation of the afore-mentioned two … 10 each credited as fully paid of the transferee-company, as well as 170 convertible debentures bearing 8% interest each of Rs. 100 credited as fully

Modipon Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : MRTP

Reported in : (1995)54ITD433(Delhi)

(a) the requisite sanction or approval, if any, of the Controller of Capital Issues under the Capital Issue (Control) Act, 1947, and of any other appropriate authorities being obtained and granted in the matters in respect of which such … Approval of any such governmental or other authorities as may be required. The said resolution was passed Under Section 391 and 394 of the Companies Act, 1956. By virtue of this resolution the appointed date for the … approved the claim of amalgamation of IFCL with MPL vide letter dated 17-1-1985. The Bombay High Court approved the claim of amalgamation of IFCL with