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Morarjee Goculdas Spg. and Wvg. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)98TTJ(Mum.)201

at the place of business of lessor and they have been introduced by the lessor or the group companies belonging to the lessor with the sole purpose of closing the financial transaction on the very day on … assessee argued that so far as the Finance Bill was concerned, the amendment was introduced to have prospective effect. Thus, the amendment as passed by … or else the proceedings in question would not have arisen. In relation to the insertion by the Finance Act, 2002, in the provisions of Section 158B(b) with retrospective effect from 1st July, 1995, the learned Counsel for the … been relied upon by the learned AO was beyond the scope of Chapter XIV-B. For the purpose of applying the provisions of Chapter XIV-B, there

Greater Bombay Co-op. Bank Ltd. Vs. United Yarn Tex. Pvt. Ltd. and ors ...

Court : Supreme Court of India

Subject : BankingConstitution

Acts : Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 2, 3, 17, 18, 31 and 34; Recovery of Debts due to Banks and Financial Institutions (Amendment) Act, 1965 - Sections 56; Maharashtra Co-operative Societies Act, 1960 - Sections 2(6), 2(10), 2(20), 18A, 36, 43, 44, 50, 55, 64, 72, 73, 78, 81, 83, 84, 88, 91, 91(1), 92, 94, 95, 97, 98, 101, 101(1), 102, 103, 104, 105, 107, 156 and 161; The Multi-State Co-operative Societies Act, 2002 - Sections 3, 22, 39, 40, 74, 83, 84, 99 and 101; Andhra Pradesh Co-operative Societies Act, 1964 - Sections 2, 9, 19, 30A, 31, 31A, 35, 47, 47(2), 50, 51, 52, 61, 61(1), 62, 63, 64, 65, 70, 70(2), 71, 71(1), 71(2), 72, 73, 75, 76 and 77; Banking Regulation Act, 1949 - Sections 2, 3, 5, 6, 20(2), 56 and 56(1); Banking Regulation (

Reported in : AIR2007SC1584; 2007(3)ALT1(SC); [2007]137CompCas63(SC); JT2007(5)SC201; 2007(3)KLT302(SC); 2007(3)MhLj434; 2007(5)SCALE366; (2007)6SCC236; 2007AIRSCW2325; 2007(3)AIRKarR406

the business of banking as defined in Clause (b) of Sub-section (1) of Section 5 of the Banking Companies Act, 1949 and includes any society which is functioning or is to function as a Co-operative Agriculture and … of a Co-operative Society into a Multi-State Co- operative Society by an amendment in its bye-laws with the approval of the Central Registrar who shall … under the Maharashtra Co-operative Societies Act, 1960 [for short 'the MCS Act, 1960']; The Multi-State Co- operative Societies Act, 2002 [for short ''the MSCS Act, 2002'']; and the Andhra Pradesh Co-operative Societies Act, 1964 [for short 'the APCS … to function as a Co-operative Agriculture and Rural Multi-purpose Development Bank under Chapter XI. In Section 2(6) of the MCS Act, 1960 - 'Central Bank'

The Morarjee Goculdas Spg. and Vs. Dy. Commissioner of Income Tax,

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

or would not have been disclosed for the purpose of this Act and after the amendment by Finance Act, 2002 w.e.f. 1-7-1995 it includes also the any expenses, deduction or allowance claimed under this Act which is to … bulk of the purchase consideration reverted to the assessee itself or to Associate Company belonging to Group of Companies of assessee; that noticeably, the payment and reclamation of the bulk of the purchase consideration was simultaneous, for … the assessee in the computation of undisclosed income for the purpose of Chapter XIV-B of the Act.2. The facts in brief are that there was

Manish Kumar Vs. Union Of India

Court : Supreme Court of India

Subject : Land Acquisition

in default", as defined in clause (60) of section 2 of the Companies Act, 2013, or was in any manner incharge of, or responsible to … of India. They call in 2 question Sections 3, 4 and 10 of the Insolvency and Bankruptcy Code (Amendment) Act 2020 (hereinafter referred to as ‘the impugned amendments’, for short). Section 3 of the impugned amendment, amends Section … which is challenged. She drew our attention to Section 2(u) and 20 of the Prevention of Money Laundering Act, 2002. She would submit but for Section 32A, the properties 5 (2019) 11 SCC6336 (2019) 4 SCC1726 which are … to make an application to initiate corporate insolvency resolution process under this Chapter, namely: - (a) a corporate debtor undergoing a corporate insolvency resolution process;

Thiru. R. Gandhi President, Madras Bar Association Vs. Union of India ...

Court : Chennai

Subject : Company

Acts : Constitution of India - Articles 14, 19(1), 50, 226 and 323; Companies Act 1956 - 10FB, 10FD(2), 10FD (3), 10FD(3), 10FE, 10FF, 10FK(2), 10FO, 10FR(3), 10FX, 79(1), 79(3), 117B, 118(3), 144(4), 163(6), 167, 188(5), 196(4), 219 (4), 225(3), 284(4), 304 (2)(b), 307 (9) and 621A; Companies (Amendment) Act, 2002

Reported in : [2004]120CompCas510(Mad); (2004)2CompLJ274(Mad); 2004(2)CTC561; [2004]52SCL79(Mad)

appointed as Members of the Consumer Forums under the Consumer Protection Act, 1986.67. It is only in the Companies (Amendment) Act, 2002 and in the Competition Act, both enactments being of the year 2002, the term of office is specified … the Appellate Tribunal shall be deemed to be a civil court for the purposes of section 195 and Chapter XXVI of the Code of Criminal Procedure, 1973 (2 of 1974).10G. Power to punish for contempt.-The Appellate Tribunal

Arcelormittal India Private Limited Vs. Satish Kumar Gupta

Court : Supreme Court of India

Subject : Land Acquisition

the provisions of Sections 15 to 21 of the Sick Industrial Companies (Special Provisions) Act, 1985. Interestingly, the Companies Amendment Act, 2002 omitted a provision similar to Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985. Consequently, creditors … however, becoming increasingly fashionable to start with some theory of what is basic to a provision or a chapter or in a statute or even to our Constitution in order to interpret and determine the meaning of

V.K. Sekhar Vs. Indian Bank, Greamset Branch and anr.

Court : Andhra Pradesh

Subject : BankingCivil

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13, 13(2), 13(3A), 13(4), 17(1), 31, 35 and 37; Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 2, 19 and 19(1); Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; Companies Act, 1956; Securities Contracts (Regulation) Act, 1956; Securities and Exchange Board of India Act, 1992; Code of Civil Procedure (CPC) , 1908 - Sections 60(1); Constitution of India - Article 226

Reported in : 2006(6)ALD778

made thereunder shall be in addition to, and not in derogation, the Companies Act, 1956 (1 of 1956), the Securities Contracts (Regulation) Act, 1956 (42 … of action, wholly or in part, arises.(2)...11. Under the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (for short, 'the Amendment Act, 2004), Section 19 of the RDB Act, 1993 was amended with effect … the petitioner under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is arbitrary and illegal.2. It is not in dispute that the writ petitioner having availed a loan from … under a decree or order of any Civil Court or Arbitration Award. Chapter-II of the said Act deals with establishment of Tribunal and Appellate Tribunal

State Bank of India Vs. V. Ramakrishnan

Court : Supreme Court of India

Subject : Land Acquisition

the provisions of Sections 15 to 21 of the Sick Industrial Companies (Special Provisions) Act, 1985. Interestingly, the Companies Amendment Act, 2002 omitted a provision similar to Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985. Consequently, creditors … brought into force. In fact, even the Companies Act, 2013, which repeals the 31 Companies Act, 1956, contains Chapter 19 consisting of Sections 253 to 269 dealing with revival and rehabilitation of sick companies along the lines

Reliance Natural Resources Ltd. Vs. Reliance Industries Limited

Court : Mumbai

Subject : Company

Acts : Oil Fields (Regulation and Development) Act, 1948 - Sections 2 and 3; Economic Zone and other Maritime Zone Act, 1976; Companies Act, 1956 - Sections 36, 39, 235 to 251, 391 to 394, 433 and 643; Evidence Act - Sections 57 to 62; Income Tax Act - Sections 2(19AA), 2(19AAA) and 2(41A); Companies (Amendment) Act, 2002; Board of Directors Act; Contract Act - Sections 17; U.K. Act - Sections 206; Constitution of India - Article 297; Petroleum and Natural Gas Rules, 1959; Companies Rules

Reported in : [2009]149CompCas129(Bom); [2008]82SCL303(Bom)

apply to a company in respect of which an order has been made before the commencement of the Companies (Amendment) Act, 2002 sanctioning a compromise or an arrangement.393. Information as to compromises or arrangements with creditors and members. -(1) where … without jurisdiction. The parties cannot be rendered remedyless. The Company Court, therefore, considering the Scheme and purpose of Chapter V and basically Sections 391 to 394 has ample power and jurisdiction to supervise the Scheme as sanctioned

Raj Kumar Khemka Vs. Union of India (Uoi), Ministry of Finance, Rep. b ...

Court : Chennai

Subject : Banking

Acts : Maharashtra Co-operative Societies Act, 1960; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 2, 2(1), 13, 13(2), 13(4) and 17; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 2; Multi-State Co-operative Societies Act, 2002; Andhra Pradesh Co-operative Societies Act; Banking Regulation Act, 1949 - Sections 3, 5 and 56; Companies Act, 1956 - Sections 3 and 591; Banking Regulation (Amendment) Act, 1965 - Sections 5; Constitution of India (Seventh Schedule) Act; Security Interest (Enforcement) Rules, 2002 - Rule 8(8)

Reported in : AIR2009Mad143

of banking in India;38. In Section 5(d) 'company' means any company as defined in Section 3 of the Companies Act, 1956 (1 of 1956) and includes a foreign company within the meaning of Section 591 of that … debts due to co-operative banks constituted under the MCS Act, 1960 (i.e. Maharashtra Co-operative Societies Act), the MSCS Act, 2002 (i.e. Multi-State Co-operative Societies Act, 2002) and the APCS Act, 1964 (i.e. Andhra Pradesh Co-operative Societies Act)? and … a foreign company within the meaning of Section 591 of that Act.39. Chapter V of the BR Act was inserted by Act 23 of 1965 … any company which transacts the business of banking in India;Subsequently, instead of amending the original Clause (c) of Section 5 of the B.R. Act, a