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N. Parthasarathy Vs. Controller of Capital Issues and anr.

Court : Supreme Court of India

Subject : Company

Acts : Capital Issues (Control) Act, 1947 - Sections 3; Companies Act, 1956 - Sections 3(6), 55A, 61, 62, 63, 72 and 81(1A); Constitution of India - Articles 14, 39, 136, 226 and 298; Monopolies and Restrictive Trade Practices Act, 1969 - Sections 2

Reported in : AIR1991SC140; [1991]72CompCas651(SC); (1991)2CompLJ1(SC); JT1991(2)SC218; 1991(1)SCALE675; (1991)3SCC153; [1991]2SCR329

to its letter dated 26.7.89 intimated that the Central Government in exercise of the powers conferred by the Capital Issues (Control) Act, 1947 gave their consent to the issue by L&T; Ltd. of 12.5% secured fully convertible debentures of the value … GIC and its subsidiaries. Later, in January, 1989 it acquired a further 6 lakh shares from the LIC.5. Within weeks after the deposit by the … 22.9% without any consideration whatsoever for agreeing to such reduction and to pass on their vested rights Under Section 81 of the Companies Act to preemptive allotment of shares in Larsen & Toubro to the members, debenture

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 … share within 3 months from the date of this order. Another Rs. 60/- per debenture will be converted into one equity share of Rs. 10/-

NabiruddIn Ahmed Vs. Central Bank of India and ors.

Court : Guwahati

Subject : CivilBanking

Acts : Army Act, 1950; Capital Issues (Control) Act, 1947 - Sections 3; All India Services (Death-cum Retirement Benefits) Rules, 1958 - Rule 16(3); Central Bank of India Officer Employees' (Discipline and Appeal) Regulations, 1976 - Regulations 4 and 6(7); Central Bank of India Officer Employees' (Conduct) Regulations, 1976 - Regulations 3.1 and 24; Indian Penal Code (IPC) - Sections 420 and 468

1993-II-LLJ-626.In Narendra Kumar Maheshwari's case (supra), the Apex Court dealt with an issue arising out of Section 3 Capital Issues (Control) Act, 1947. In Paragraph 106 of the judgment, the Apex Court opined that since the guidelines on which the petitioner … Rs.1. a/c No. 5292 93,157.00 93,000. 00 No photograph is available Gita Kundu in record2. a/c No. 5313 68,956.00 68,000. 00 Photograph specimen Shefali Saha signature card is not on recordBesides above, the following fake HSS accounts

Madanlal Fakirchand Dudhediya Vs. Changdeo Sugar Mills Ltd. and ors.

Court : Mumbai

Subject : Company

Acts : Indian Companies Act, 1956 - Sections 9, 76, 76(1), 78(2), 87, 105 and 309(6); Code of Civil Procedure (CPC), 1908; Capital Issues (Continuation of Control) Act, 1947 - Sections 2; Indian Companies Act, 1913 - Sections 105 and 105(1); Company Law

Reported in : AIR1958Bom491; (1958)60BOMLR254; ILR1958Bom250

(b) of Sub-section (1) of Section 76.18. Mr. Munshi has next contended that since the enactment of the Capital Issues (Continuance of Control) Act, XXIX of 1947, debenture would also be capital of the company. Mr. Munshi has … Ltd., conferred on them by the Articles of Association of the Company and they further agreed to receive 6 1/4 per cent as promoters' commission instead of 12 1/2 per cent as provided in their respective agreement

Oswal Agro Furane Ltd. and anr. Vs. Union of India (Uoi) and ors.

Court : Punjab and Haryana

Subject : Excise

Reported in : 1989(24)LC533(P& H)

licence (Annexure P-3) dated 5th April 1982 giving statutory effect under Section 3 of the Import and Export (Control) Act, 1947 (hereinafter called the 'Act') to the conditions which were to be made applicable to 100% Export Oriented Units … 21st June, 1984 entered into a supply agreement with Messrs. Ballestra SPA Milano Italy for the import of capital of goods for the total value of 30 million U.S $. This was done because as per the … application had offered 100 per cent value addition.16. Regarding the generation of 6 MW of surplus power, it was maintained that the petitioners had not … up 100% Export Oriented Units. The Chief Controller of Imports and Exports issued an open general licence (Annexure P-3) dated 5th April 1982 giving statutory

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 … of capital, a separate set of procedure had to the followed as laid down in rules 46 to 65 of the Rules. He further states that in terms of section 101(2) of the Act, the proposed reduction

Vodafone India Services (P.) Ltd. Vs. Union of India

Court : Mumbai

Subject : Land Acquisition

was determined by the Petitioner in accordance with the methodology prescribed by the Government of India under the Capital Issues (Control) Act, 1947. However, according to the Assessing Officer (AO) and Transfer Pricing Officer (TPO), the Petitioner ought to have valued … and impugned DRP order dated 11 February 2014. I. Basic Facts : 6. (a) It is an undisputed position that the holding company is an … by the Petitioner was to the order dated 28 January 2013 of the TPO passed in terms of Section 92CA of the Act and the consequent draft assessment order dated 22 March 2013 passed by the AO

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 … upon a judgment of the Madras High Court in Industrial Development Bank of India v. B. Anantha-swami [1986] 60 Comp Cas 99. In that case, the proposition laid down is that "issue of capital" will mean creation

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. … issue share and debenture capital at an aggregate value of approx. Rs. 600 crores. It may be mentioned that after these writ petitions and suit … 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)

Arun Kumar Agrawal and Another Vs. State of Karnataka and Others Overruled

Court : Karnataka

Subject : Constitution

Acts : Constitution of India - Articles 32 and 226; Code of Criminal Procedure (CrPC) , 1973 - Sections 2, 5-A, 8(1), 41(1), 77, 154, 155, 156, 157, 190, 195 to 199 and 225; Prevention of Corruption Act, 1947; Foreign Exchange Regulation Act, 1973 - Sections 8, 9 and 61; Indian Companies Act, 1956 - Sections 209, 224(8) and 621; Code of Civil Procedure (CPC), 1908 - Sections 151 - Order 1, Rule 10; Sea Customs Act, 1878 - Sections 187-A; Gold Control Act, 1968 - Sections 97; Import and Export Control Act, 1947 - Sections 6; Income-tax Act, 1961 - Sections 271 and 279; Electricity Supply Act, 1948 - Sections 2(2), 4(A), 3, 15(A), 18(A), 28, 30, 31, 43-A and 77; Code of Criminal Procedure (CrPC) , 1861 - Sections 139; Indian Penal Code (IPC), 1860 - Sections 120-B, 406, 408, 409,

Reported in : 1999(1)KarLJ603

Customs Act, 1878, (b) Section 97 of Gold Control Act, 1968, (c) Section 6 of Import and Export Control Act, 1947, (d) Section 271 and Section 279 of the Income-tax Act, 1961, (e) Section 61 of the Foreign Regulation … was unheard of in the Indian society. Such a corruption is generally related to the inflow of foreign capital investment in the Indian economy. The foreign investors being generally not amenable to the jurisdiction of the Indian … be valid for a period of two years from the date of issue.10. Consequent upon the MoU and the guarantee of the Central Government, the