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Jry Investments Private Limited Vs. Deccan Leafine Services Ltd. and o ...

Court : Mumbai

Subject : Company

Acts : Companies Act, 1956 - Sections 108; Depositories Act, 1996 - Sections 10 and 12; Contract Act, 1872 - Sections 148 and 172; Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996 - Regulation 58; Securities and Exchange Board of India (Depositories and Participants) Act, 1996 - Sections 58(2)

Reported in : [2004]121CompCas12(Bom); [2004]56SCL339(Bom)

nature of the shares in the demat form, particularly since the procedure prescribed for pledging shares by the Depositories Act, 1996, has not been followed. The submission deserves acceptance.15. It must be remembered that the shares in question are … lying in the demat account of defendants Nos. 1, 14, 17 and 18 including the power to sell and dispose of the said shares.2. Today … from defendant No. 1 could not get any title in the shares. There are certain exception to the rules that no person can pass a better title to another than he himself possesses. The law acknowledges cases

Pushpanjali Tie Up Pvt. Ltd. Vs. Renudevi Choudhary and Others

Court : Mumbai

Subject : Land Acquisition

respondent Nos.1 and 2. Secondly, the pledge was admittedly not created in accordance with the provisions of the Depositories Act, 1996 and in particular, section 12 thereof. We have held that the provisions of section 12 are mandatory and … Instruments Act, 1961, as regards the date of payment shall apply. 4. The Loan shall carry interest @ 18.00% (Eighteen percent) per annum to be payable on monthly basis on reducing balance method i.e. on the outstanding

Jayanand Jayant Salgaonkar and Others Vs. Jayashree Jayant Salgaonkar ...

Court : Mumbai

Subject : Land Acquisition

of the Companies Act, 1956, (Equivalent to Section 72 of the Companies Act, 2013.)and Bye-Law 9.11 under the Depositories Act, 1996, (Incorrectly described in Kokateas Section 9 to the Act.)and found that once a nomination is made, the securities … Union v The Delhi Improvement Trust (AIR 1957 SC 344; Kokate, paragraph 18.), Dr. M. Ismail Faruqi v Union of India, (1994) 6 SCC 360 … whom his securities shall vest in the event of his death in the manner prescribed under the Business Rules from time to time. 9.11.2. The securities held in such account shall automatically be transferred in the name

Shakti Yezdani Vs. Jayanand Jayant Salgaonkar

Court : Supreme Court of India

Subject : Land Acquisition

MFs/shares were made as per Section 109A & 109B of Companies Act, 1956 and bye-law 9.11.7 of the Depositories Act, 1996. Section 109A and 109B of the Companies Act, 1956 must be read as a code in themselves, wherein … of S. 109A of Companies Act and Bye-law 9.11 framed under the Depositories Act, 1996. The bench accordingly ruled that an incorrect view was taken in Kokate (supra).13. The object of S. 109A(3) of the Companies Act, … disposition, whether testamentary or otherwise. 15.3 It is further contended that S. 187C & S. 109A(3) of the Companies Act, 1956 have to be read

Nepc Micon Limited, Vs. Sashi Prakash Khemka and ors.

Court : Chennai

Subject : Company

Acts : Companies Act - Sections 10F, 13A, 14, 43A, 111, 111A, 111A(2), 111A(3) and 155; Indian Stamp Act; Income Tax Act; Securities Contract (Regulatory) Act, 1956 - Sections 22A; Depositories Act, 1996; Company Amendment Act, 1998 - Sections 14; Securities and Exchange Board of India Act, 1992; Sick Industrial Companies (Special Provisions) Act, 1985; ;Haryana Municipal Act, 1973; BIFR Act; Depositories Related Laws (Amendment) Act, 1997; Haryana Municipal (Second Amendment) Act, 1994; Customs Act; Limitation Act - Schedule - Article s 82 and 137; Motor Vehicles Act - Sections 110, 110A, 110F and 111; Depositories Act, 1995;

Reported in : [2007]137CompCas917(Mad); [2007]78SCL442(Mad)

the provisions of the Companies Act taking place prior to the amendment to Section 111A(3) in 1997.2. The Depositories Act, 1996, brought about comprehensive changes in the matter relating to transfer of securities by introducing amendments to various related … state is directed with some policy to effectuate some public benefit or cure, curb a menace. The normal rule of interpretation is every statute or amendment to the statute is prospective prima facie unless it is expressly … Tribunal under Section 110 of the Motor Vehicles Act by notification dated 18th March 1967. An application was preferred under Section 110A on 8th July

Harsha NitIn Kokate Vs. the Saraswat Co­op. Bank Ltd. and ors.

Court : Mumbai

Subject : Company

Acts : Companies Act - Section 109A; ;Depositories Act, 1996 - Section 9.11; ;Insurance Act - Section 39; ;Maharashtra Co­operative Societies Act - Sections 22 and 30; ;Land Acquisition Act; ;Uttar Pradesh Town Improvement Act; ;Acquisition of Certain Area at Ayodhya Act, 1933; ;Bombay Municipal Corporation Act, 1888 - Section 220A; ;Coking Coal Mines (Nationalisation) Act, 1972

Reported in : 2010(112)BomLR2014

That is the effect of vesting the shares in the nominee.5. Mr. Maheshwari drew my attention to the Depositories Act 1996. Section 9.11 thereof relates to transmission of securities in the case of nomination. Section 9.11 runs thus:9.11. TRANSMISSION … whom his securities shall vest in the event of his death in the manner prescribed under the Business Rules from time to time.9.11.2. The securities held in such account shall automatically be transferred in the name of … the manner provided under Section 220A of the Bombay Municipal Corporation Act, 1888.This would be in consonance with the intention of the legislation - no

Anju Timblo, Managing Director of Fomento Resorts and Hotels Ltd. and ...

Court : Mumbai Goa

Subject : Company

cannot be said to be transfer of business as such. The learned Senior Counsel submitted that under the Depositories Act, 1996 (under the new regime), the shares are held in a dematerialised (demat form). It is submitted that, it … that the first respondent filed two applications being CA.No.5/2013, which is an application for amendment, under order VI, rule 17 of C.P.C., read with Regulations 44 and 46 of the Company Law Board Regulations (Regulations, for short) … Act, 1956 (the Act, for short) arise out of the order dated 18/05/2015, passed by the Company Law Board (CLB), New Delhi on C.A. No.5/C.1/2013

Pan Asia Advisors International Corporate Finance Minster House and An ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : MRTP

of 1993 and not in the SEBI Act, 1992, or the Securities Contracts (Regulations) Act, 1956, or the Depositories Act (1996), or the existing Companies Act, 1956. Section 2(c) of the said Scheme reads as follows :- “2(c) Global … would be covered within the prohibition under the aforementioned provisions of law. 18. Given the vital functions of protecting investors and safeguarding the integrity of … that even otherwise none of their actions with respect to GDRs can be construed as violating any law, rule or regulation framed by SEBI. It is pointed out that even in India, banks regularly finance applications in

National Securities Depository Limited Trade World Vs. Securities and ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : Land Acquisition

the Companies in physical form. With the introduction of depository system regulated under the provisions contained in the Depositories Act, 1996, holders of securities who would have otherwise held their securities in the physical form could hold the said … imposed under Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 and Depositories (Procedure for Holding Inquiry and Imposing Penalties By Adjudicating Officer) Rules, 2005, on account of … will take over and dispose of the on-going quasi-judicial proceedings as on 18th February 2008 against NSDL, irrespective of its stage. The Legal Department of

Mega Resources Limited Vs. Securities and Exchange Board of India

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : Land Acquisition

of regulation 7(1), that it has to be noted while the 1997 Regulation was notified in 1997, the Depositories Act, 1996 which provide for de-mat trading of shares was already in position. He refuted the Appellant's contention that regulation … Counsel stated that the Appellant received a show cause notice dated December 18, 2000 from the Respondent alleging that the Appellant acting in concert with … Madras AIR 1953 SC 274 wherein the Hon'ble Supreme Court had observed that " it is a settled rule of construction that to ascertain the legislative intent all the constituent parts of a statute are to be