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G.R. Govindarajulu Naidu and anr. Vs. Commissioner of Income-tax
Chennai
Apr-14-1972
Direct Taxation
Income Tax Act, 1922 - Sections 2(6A) and 10(2); Companies Act, 1956 - Sections 153, 205 and 206
[1973]90ITR13(Mad)
the individual name of Govindarajulu Naidu and he is a registered shareholder of the company. In view of Section 153 of the Companies Act, 1956, which prevents any trust, express, implied or constructive being recognised as members of … as to attract the said provision. Some light is thrown by the provision in Section 205(5) of the Companies Act, 1956, which provides that no dividend shall be payable except in cash, the only exception being the issue of
Tag this Judgment! AI Brief & AskCommissioner of Income Tax Vs. T.P.S.H. Sokkalal
Chennai
Apr-29-1997
Direct Taxation
Companies Act, 1956 - Sections 153; Income-tax Act, 1961 - Sections 2(22) and 2(32)
[1999]236ITR981(Mad)
that it is not the minors who held the shares, but the guardian. 9. Sec. 153 of the Companies Act, 1956, provides that no notice of any trust, express, implied or constructive, shall be entered on the register of … to us against the Revenue. There will be no order as to costs. Direct Taxation - shares - Section 2 of Income-tax Act, 1961 - whether shares in name of assessee were beneficially held by her so
Tag this Judgment! AI Brief & AskStock Holding Corporation of India Ltd. and Another Vs. Bharat Petrole ...
Mumbai
Oct-03-1996
Company
Companies Act, 1956 - Sections 10F, 153, 187C, 187C(3) and 617; Securities Contracts (Regulation) Act, 1956 - Sections 22A(4) and 22A(6)
[1998]91CompCas862(Bom)
is hereby, refused by the company for the following reasons : (a) As per the provisions of the section 153 of the Companies Act, 1956, no notice of trust can be taken by the company and, therefore, the … second appellant, this appeal has been preferred by the appellants under the provisions of section 10F of the Companies Act, 1956 (for short, 'the Act'). 2. Stock Holding Corporation of India Ltd. (for short, 'SHCOIL') is a company incorporated
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K.R.S. Narayana Iyengar and ors. Vs. T.A. Mani and ors.
Chennai
Aug-26-1959
Company
Indian companies Act, 1956 - Sections 235 to 251, 235 to 240, 241, 243, 244, 243, 397, 398, 402 and 404; Indian Companies Act, 1913 - Sections 153(C), 153(C)(1) and 153(D)
AIR1960Mad338
(1). This is an application preferred under the new Ss. 397 and 398 of the Indian companies Act, 1956 corresponding to S. 210 of the English companies Act of 1948. The case law both under the English … S. 210 of the English companies Act of 1948. The case law both under the English and Indian Sections of the Companies Act is very sparse.(2) Sri Rangaraja Talkies (Private) Limited has been incorporated under the Indian … oppression of the minority or mismanagement. They reproduce, with some changes, sections 153(C) and 153(D) of the old Act introduced by Act LII of 1051.
Tag this Judgment! AI Brief & AskVed Mitra Vs. Globe Motors Limited
Delhi
Feb-17-1975
Company
Companies Act, 1956 - Sections 153 and 392; Companies Court Rules, 1959 - Rule 86
[1978]48CompCas64(Delhi); ILR1975Delhi123
the question, what further steps should be taken and directions, if any, given under Section 392(2) of the Companies Act, 1956 (hereinafter called the Act), has now arisen for consideration. It will be necessary to read Section 392(1) and … Any scheme of arrangement which had become operative by virtue of the sanction given by the Court under Section 153 of the old Act (of 1913) became binding on the creditors and shareholders of the company whose terms
Tag this Judgment! AI Brief & AskSeksaria Cotton Mills Ltd. Vs. A.E. Naik and ors.
Mumbai
Mar-15-1965
Company
Companies Act, 1956 - Sections 390, 391, 392, 439, 454, 474, 528 and 643
[1967]37CompCas656(Bom)
petition involves a question of some complexity relating to the scope and effect of section 391 of the Companies Act,1956. 2. The petitioners are a public limited company carrying on the business of manufacturing textiles. They will be … be wound up under this Act.' A provision corresponding to clause (a) of section 390 was found in section 153(6) of the Indian Companies Act,1913.In the case, In re Travancore National and Quilon Bank Ltd. [1939] 9 Comp.
Tag this Judgment! AI Brief & AskAnam Premkumar Reddy and ors. Vs. India Fruits Ltd. and ors.
Andhra Pradesh
Sep-02-1995
Company
Companies Act, 1956 - Sections 150, 153, 153B, 155, 187A, 187B, 187C, 187C(3), 187C(4), 297(5) and 397; Indian Trusts Act, 1882 - Sections 77, 77(C) and 83
1995(3)ALT170; [1996]85CompCas625(AP)
T.N.C. Rangarajan, J. 1. This is a petition under section 155 of the Companies Act, 1956. 2. According to the petition, the first petitioner is the son of the third respondent, and the other … not maintainable. Thirdly, that no notice of any trust can be entered in the register of members under section 153 and, therefore, notice of such trust entered under section 187C cannot be regarded as part of the register
Tag this Judgment! AI Brief & AskK.P. JaIn Vs. S.K. Gupta and ors.
Delhi
Jul-16-1976
Company
Companies Act, 1956 - Sections 41, 153, 392(1) and 483
[1978]48CompCas774(Delhi); ILR1976Delhi291
J.) both dated April 26, 1976, mainly turn upon the meaning and interpretation of two sections of the Companies Act, 1956 -sections 391 and 392. The facts (2) First the facts. Delhi Flour Mills Company Limited (DPM) was the … notice of a trust, express, implied or constructive, from being entered on the company's register of members. (See section 153 and Article 6 of Table A of the Act and Palmer's Company law, page 449). (27) In re
Tag this Judgment! AI Brief & AskGemini Silk Limited Vs. Gemini Overseas Limited
Kolkata
Aug-08-2002
Company
Companies Act, 1956 - Sections 10, 235 to 251, 293, 391 to 396, 425, 494, 507 and 643; ;Companies (Court) Rules, 1959 - Rule 84; ;Companies Act, 1912 - Section 153 and 153A; ;Sale of Good Act - Section 4(1); ;Transfer of Property Act - Sections 5, 9, 29 and 54; ;Indian Stamp Act, 1899 - Sections 2(10), 2(14) and 24; ;Madhya Pradesh Abolition of Proprietary Rights (estates, mahals, alienated Land) Act, 1950; ;Income Tax Act - Sections 2(19AA), 47 and 72A; ;Arbitration Act, 1940
[2003]53CLA328(Cal)
act or deed to the transferee company and accordingly the same shall pursuant to Section 394(2) of the Companies Act, 1956 be transferred to and vest in the transferee company for all the estate and interest of the transferor … this is an involuntary transfer effeced by order of the Court.' (emphasis supplied)The effect of an order under Section 153(A) of the Companies Act, 1912 which corresponds to Sections 391 and 394 of the Companies Act, 1956 has
Tag this Judgment! AI Brief & AskJ.P. Srivastava and Sons Pvt. Ltd. and ors. Vs. Gwalior Sugar Co. Ltd. ...
Supreme Court of India
Oct-26-2004
Company
Companies Act, 1956 - Sections 10F, 41(2), 153, 397, 398, 399(1), 399, 399(3), 399(4), 400, 401, 402, 403, 404 and 405; Company Law Board Regulations, 1991 - Regulations 18, 44, 46 and 48; Indian Trusts Act; Indian Companies Act, 1913 - Sections 153C(3)
AIR2005SC83; I(2005)BC142; (2005)2CALLT31(SC); [2004]122CompCas696(SC); (2004)4CompLJ467(SC); 2004(9)SCALE60; (2005)1SCC172; [2004]56SCL1(SC)
on her behalf in the matter at hand, and the application under Section 397 and 398 of the Companies Act, 1956, as filed in the Court, ought to be taken as one to which she had consented'.43. The finding … filed, the CLB should consider whether the shares of the trust should be reduced and the implications of Section 153 of the Act. The CLB was directed to decide the subsequent application on its merits ignoring the observations
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