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Sahara India Real Estate Corporation Limited and Others. Vs. Securitie ...

Court : Supreme Court of India

Subject : Companies

Acts : Companies Act, 1956 - Section 55A(b), 55A(c), 56, 57, 58, 60B, 60B(1), (2), 2(19A), 60B(9), 235 to 241, 73, 73(1)(2A), 209-A , 68A(1)(a), 2(45AA), 81(1A), 234(1), 234(4)(a), 67(3), 62, 63, 108A, 109, 110, 117A, 117B, 117C, 56, 62, 63, 642, 642(4), 2(19A); Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 ; Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 - Regulations 3, 6, 2(zc), 2(p), 2(n), 4(2), 5(1), 6, 7, 16(1), 20(1), 25, 26, 36, 37, 46, 57; Securities and Exchange Board of India(SEBI) Act 1992 - Section 11C, 11A, 15Z, 55A, 68A, 77A, 80A, 108, 109, 110 116, 117, 118, 119, 120, 121, 122, 206, 206A, 207, 59 to 81,; Companies (Central Government's) General Rules and Forms, 1956 - Rule 4CC, Form No. 2A,; Securities Contracts (Regulation) Act(SCR), 1956 - Section 2(h), 21, 73(1)(3), 28, 28(1)(b), 20; Companies (Amendment) Act, 2000 - Section 55A, 67(3); Companies (Second Amendment) Act, 2002 - Section 2(19B), 60B(9), 60B(1)(2)(3), ; Constitution of India - Articles 129, ; Companies Act, 2006 - Sections 755, 760,; Food Safety Modernization(FSMA), Act 2000 - Section 85; Reserve Bank of India Act, 1934 - Section 45I(f) ; Companies Amendment Act 53 of 2000 - Section 81(1A); Insurance Act, 1938 - Section 2; Securities Laws (Amendment) Act, 1995 - Sections 13, 16, 28(1)(b), 28(2); Indian Evidence Act - Section 114 ; Companies (Central Government's) General Rules and Forms, 1956 - Rule 4CC, 4D; Unlisted Public Companies (Preferential Allotment) Rules, 2003 - Rule 2,; UPC (PA) Amendment Rules 2011 ; SCR Rules - Rule 19; Unlisted Public Companies (Preferential Allotment) Amendment Rules 2011

Reported in : (2013)1SCC1

a recognized stock exchange. Section 60B, as already indicated, refers to IM. Section 2(19B) was inserted by the Companies (Second Amendment) Act, 2002, w.e.f. 1.4.2003, which reads as follows:“2(19B) "information memorandum" means a process undertaken prior to the filing of a … under DIP Guidelines and ICDR 2009 had been complied with and hence there was prima facie violation of Section 56 of the Companies Act and hence offer of OFCDs of Saharas to the public was illegal. Notice also

Madras Bar Association Vs. Union of India and anr.

Court : Supreme Court of India

Subject : Direct Taxation

1B and 1C of the Companies Act, 1956. These parts were inserted into the Companies Act, by the Companies (Second Amendment) Act, 2002. Thereby, provision was made for the constitution of the National Company Law Tribunal and the National Company Law … issue adjudicated upon, pertained to the constitutional validity of the Constitution (Forty-second Amendment) Act, 1976, and more particularly, Sections 4 and 55 thereof, whereby Articles 31C and 368 of the Constitution, came to be amended. The majority

Bank of Maharashtra Vs. Pandurang Keshav Gorwardkar and Others

Court : Supreme Court of India

Subject : Company

framed the Debts Recovery Tribunal (Procedure) Rules, 1993. 37. The Companies Act has undergone substantial amendments by the Companies (Second Amendment) Act 2002 (11 of 2003) but no notification has been issued so far bringing Act 11 of 2003 into effect. … been issued so far bringing Act 11 of 2003 into effect. Though Section 441 has been substituted by Section 56 of the above Amendment Act but since it has not come into force, we reproduce Section 441 as

Bank of Maharashtra Vs. Pandurang Keshav Gorwardkar and ors.

Court : Supreme Court of India

Subject : Company

has framed the Debts Recovery Tribunal (Procedure) Rules, 1993.37. The Companies Act has undergone substantial amendments by the Companies (Second Amendment) Act 2002 (11 of 2003) but no notification has been issued so far bringing Act 11 of 2003 into effect. … been issued so far bringing Act 11 of 2003 into effect. Though Section 441 has been substituted by Section 56 of the above Amendment Act but since it has not come into force, we reproduce Section 441 as

Gujarat Urja Vikas Nigam Limited Vs. Amit Gupta

Court : Supreme Court of India

Subject : Land Acquisition

Courts.4. It is stated that the recommendations of the Eradi Committee were accepted by the Government and Company (Second Amendment) Act, 2002 was passed providing for establishment of NCLT and NCLAT to take-over the functions which are being performed by … provides that the State Commission shall discharge the function of adjudicating ―the disputes between the licensees, and generating companies and to refer any dispute for arbitration‖. Therefore, any issue in relation to the PPA must be raised … matrix of fragmented and contrary outcomes rather than ―coherent and consistent.… precedents‖. 56 The BLRC noted that speed is of the essence for the working … JUDGMENT Dr Dhananjaya Y Chandrachud, J This judgment has been divided into sections to facilitate analysis. They are: A The appeal B The genesis of

Arunachalam Muthu Vs. Nafan Bv and Others

Court : Mumbai

Subject : Land Acquisition

person aggrieved by any decision or order of the Company Law Board made before the commencement of the Companies (Second Amendment) Act, 2002 may file an appeal to the High Court within sixty days from the date of communication of the … 1. The Appellant has filed the above Appeal under Section 10F of the Companies Act, 1956 (“the Act”) impugning the order dated 31st May 2012 passed by the … MaharanaJaywantsinhji Ranmalsinhji Thakore Saheb of Sanand vs. The State of Bombay (1954) 56 BLR 1054 (DB), Mr. Khambata submitted that where a statute uses different

Rci Power Limited Vs. Union of India (Uoi) and ors.

Court : Andhra Pradesh

Subject : Electricity

Acts : Constitution of India - Article 226; Andhra Pradesh Electricity Reforms Act, 1998 - Sections 11, 11(1), 12, 12(3), 15(4), 26, 26(5), 54(2), 56(2) and 56(3); Electricity Regulatory Commission Act, 1998 - Sections 22, 22(1) and 29; Transfer Scheme Rules

Reported in : AIR2004AP60; 2003(3)ALD762

the licensee, out of 61 power generating plants (both Mini Power Plants and non-conventional energy developers) 41 Generating Companies entered into agreements with the Board before the Reforms Act came into force and 20 Generating Companies entered … is any hostile discrimination. That is a different 'cup of tea' altogether.The second observation we wish to make is, legislative action, plenary or subordinate, is … 1973 and the Code of Criminal Procedure, as well as the Prevention of Corruption Act and Criminal Law Amendment Act, having surveyed the case law, the Supreme Court enunciated the principles as follows:84. So far as the Concurrent … Swamy, J. 1. Petitioners in Writ Petition Nos. 4770 and 4771 of 2002 are the appellants in CMA Nos. 1351 and 1356 of 2001. These … the supply and use of electrical energy.18. Under Section 3 of the Act, the State Government is … the provisions of the Fifth Schedule.74. Under Section 56(3) of the Reforms Act, upon establishment of the

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

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 … into a Multi-State Co- operative Society by an amendment in its bye-laws with the approval of the … 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 … by a co-operative bank for recovery of its debts. The Division Bench on consideration of the provisions of Section 56 of the Banking Regulation Act, 1949 [ for short 'the BR Act'] came to the conclusion that 'Co- … co-operative bank for three reasons: firstly, Section 5 is an interpretation clause; secondly, substitution of 'co-operative bank' for 'banking company' in the definition in Section

Cherukode Co-op. Rural Bank Ltd. Vs. Parur Service Co-op. Bank

Court : Kerala

Subject : Banking

Acts : Banking Regulation Act, 1949 - Sections 2, 3, 5, 5A, 6(1), 7, 7(2), 8, 9, 21 to 35, 35A, 56 and 56(10); Kerala Co-operative Societies Act, 1965; Kerala Co-operative Societies Rules; Companies Act, 1956; Agriculture and Rural Development Act, 1981; ;Banking Laws (Amendment) Act, 1984 - Sections 42; Banking Laws (Amendment) Act, 1983 - Sections 42; Banking Companies Act; Urban Co-operative Societies Act; ;Constitution of India - Articles 246 and 19

Reported in : 2006(3)KLT38

to, and not, save as hereinafter expressly provided, in derogation of the Companies Act, 1956, and any other law for the time being in force.3. … under Section 56(p) of the B.R. Act. According to the petitioners, the second respondent Janakeeya Co-operative Urban Bank Limited was granted registration illegally as licence … of the bank, whose subsidiary the employer bank is,') (a) Substituted for Clause (f) by the Banking Laws (Amendment) Act (1 of 1984), Section 42(ii)(15-2-1984).((fi) in Section 8, for the proviso, the following proviso shall be substituted, namely:-'Provided … the learned single Judge in O.P.No. 26589 of 2002. The above O.P. was filed for a declaration … Reserve Bank of India was necessary for functioning of the above bank. As per Section 22 read with Section 56 of the Banking Regulation Act (for short 'the Act'), no co-operative society shall carry on banking business unless

Arcelormittal India Private Limited Vs. Satish Kumar Gupta

Court : Supreme Court of India

Subject : Land Acquisition

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 … and Bankruptcy Code (Amendment) Act, 2017, together with the amendment made by the Insolvency and 40 Bankruptcy Code (Second Amendment) Act, 2018. Section 29A, as introduced by the Insolvency & Bankruptcy Code (Amendment) Ordinance, 2017, on 23.11.2017, reads as … of the corporate insolvency resolution process under Section 12 or the fast track corporate insolvency resolution process under Section 56, as the case may be, does not receive a resolution plan under sub-section (6) of Section 30; or