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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 … Indian market or in any way dealing with them, till further orders. 22. In this context, I note that Pan Asia and Panchariya have already … 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

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) … respondent at a consideration of Rs.42.09 Crores, which offer was accepted. On 22/12/2003, an agreement was entered into between the first respondent and PT, against

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 … that even assuming that we agree with the judgment, it is of no assistance to the appellant's case. 22. There is yet another hurdle in the appellant's way. The appellant admittedly did not follow the provisions of

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 … of defendants Nos. 1 to 21 and 35 maintained with defendants Nos. 22 to 33 and 34, belong to the plaintiff. The plaintiffs also seek … 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

Ptc India Financial Services Ltd. Vs. Mr. Venkateshwarlu Kari

Court : Supreme Court of India

Subject : Land Acquisition

RESPONDENTS JUDGMENT SANJIV KHANNA, J.The primary legal issue which arises for consideration in this appeal is whether the Depositories Act, 1996 read with the Regulation 58 of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 19961 … being at sea the master could not be notified; the true explanation was perhaps that it was a rule of the law merchant, developed in order to facilitate mercantile transactions, whereas the process of pledging goods on … payment is agreed upon.” 20 Hailsham Edn., (2nd Edn.), para 330, page 226 of Volume XXIII. Civil Appeal No.5443 of 2019 Page 15 of 86

Finolex Industries Ltd. Vs. Mr. Anil Ramchand Chhabria

Court : Mumbai

Subject : Company

Acts : Companies Act, 1956 - Sections 43-A, 108, 111(2), (4) & (5), 111-A and 114; Depositories Act, 1996 - Sections 28; Indian Limitation Act, 1972; Securities and Exchange Board of India Act, 1992; Sick Industrial Companies (Special Provisions) Act, 1985; Depositories (Related) Laws Amendment Act, 1997

Reported in : 2000(3)BomCR644; (2000)2BOMLR336; [2008]144CompCas738(Bom); 2000(4)MhLj81

proviso has not been given in co-relation to the other provisions of the Companies Act read with the Depositories Act, 1996. By giving this interpretation, the CLB has merely justified its earlier finding that the proviso to section 111A(2) … CLB had come to the conclusion that the provisions is vague, it ought not to have applied the rule of literal interpretation. The function of the Court whilst interpreting the statue is to avoid an interpretation which … entitled to 25% share each of the estate of the deceased.2. On 22-9-1987 the respondent made a written request to the Appellant Company for transmission

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, … position of the contesting parties vis-à-vis the testator, Jayant Shivram Salgaonkar. Page 22 of 4319. Having considered the submissions and the materials placed on record,

National Securities Depository Ltd. Vs. Securities and Exchange Board ...

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

Subject : Land Acquisition

(1) Section 26(2)(p) of the Depositories Act, 1996, (2) Regulation 7, 16(2), 22, 23, 34, 35, 37, 39, and 52 of the Securities and Exchange … the Securities and Exchange Board of India Act, 1992 (the Act for short) and Section 19G of the Depositories Act, 1996. CDSL is the appellant in Appeal no. 69 of 2007 and a penalty of Rs.3 crores has been … of 2007 3. In the show cause notice dated November 23, 2006 which was issued to NSDL under Rule 4 of the Securities and Exchange Board of India (Procedure for Holding Enquiry and Imposing Penalty by Adjudicating

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 … of the society:Provided further that, nothing in this subsection or in Section 22 shall prevent a minor or a person of unsound mind from acquiring … 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

Shakti Yezdani and Others Vs. Jayanand Jayant Salgaonkar and Others

Court : Mumbai

Subject : Education

to have all the rights in the shares none other can have it. Further section 9.11 of the Depositories Act 1996 makes the nominee's position superior to even a testamentary disposition. The non-obstante Clause in section 9.11.7 gives the … of a member in the name of the nominee. We hold accordingly. 22. Having recorded the above conclusion, it is imperative for us to deal … 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