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Central Bank of India Vs. Coast West Ferro Alloys and 7 ors.

Court : Gujarat

Subject : SICA

Acts : Sick Industrial Companies Act - Sections 2, 3, 15, 16, 17, 18, 19, 19A, 20, 21, 22, 22(1), 22A, 25, 29 and 32; Income Tax Act, 1961 - Sections 72A; Code of Civil Procedure (CPC) - Order 7, Rule 11; Foreign Exchange Regulation Act, 1973; Urban Land (Ceiling and Regulation) Act, 1976; Constitution of India - Article 39; Companies Act, 1956; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 34; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Small Industries Development Bank of India Act, 1989

Reported in : (2009)1GLR59

Exh.44 that respondent being a sick unit declared by Board of Industrial Finance and Reconstruction (hereinafter referred to as 'BIFR'), therefore, under Section 22(1) of … company.RDDB Act - Ambit and scope23. The RDDB Act (Recovery of Debts Due to Banks and Financial Institutions Act, 1993) has been enacted with a view 'to provide for the establishment of Tribunals for expeditious adjudication and recovery … follow procedure laid down in Chapter IV. Chapter V relates to `Recovery of debt determined by the Tribunal'. Section 29 declares that the provisions of the Second and Third Schedules of the Income Tax Act, 1961 will apply

Steel and Industrial Forgings Ltd. Vs. Deputy Commissioner of Income-t ...

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 29, 30 to 43D, 72, 143(1), 143(1A) and 260A; Finance Act, 1993

Reported in : [2009]318ITR18(Ker); [2009]184TAXMAN338(Ker)

reduced amount of loss by virtue of Clause (ii) of Section 143(1)(a) of the Act introduced by the Finance Act, 1993, with retrospective effect from April 1, 1989. It is against the demand of additional tax the assessee filed … reduction in loss to the extent of Rs. 25,93,202 representing excess claim of depreciation claimed by the assessee. Section 29 of the Act provides that the income referred to in Section 28 shall be computed in accordance with

State Bank of Hyderabad Vs. Andhra Pradesh Industrial Development Corp ...

Court : Andhra Pradesh

Subject : Company

Acts : State Financial Corporations Act, 1951 - Sections 29

Reported in : 1998(6)ALD223; 1998(4)ALT781; [1999]98CompCas612(AP)

deceased loanee was proper or not the loanee V. Koti Reddy had died to the knowledge of the finance corporation, yet sal-cum-recall notice issued on December 8, was not issued to the legal representatives of the loanee, … for the consent of the petitioner by its letter dated March 26, 1993, for selling the unit, to which the petitioner replied requesting the first … during the pendency of the suit, the first respondent-corporation, in exercise of the powers conferred upon it under section 29 of the State Financial Corporations Act, 1951 (for short 'the Act'), seized the assets and took over possession

Ksl and Industries Ltd. Vs. Arihant Threads Ltd. and ors.

Court : Supreme Court of India

Subject : SICABanking

Acts : Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 2, 3, 15 to 19, 19A, 20, 21, 22, 22(1), 22A, 25, 29, 32 and 32(1); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 25, 28, 29, 30, 34, 34(1) and 34(2); Income Tax Act, 1961 - Sections 72A; Companies Act, 1956 - Sections 529(1) and 529A; Foreign Exchange Regulation Act, 1973; Urban Land (Ceiling and Regulation) Act, 1976; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951 - Sections 29 and 46B; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Small Industries Development Bank of India Act, 1989; Code of Civil Procedure (CPC) , 1908 - Sections 9; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2000;

Reported in : IV(2008)BC421(SC); 153(2008)DLT27(SC); 2008(12)SCALE42; (2008)9SCC763

for short) for recovery of Rs. 25,26,60,836/- under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as the `RDDB' Act). On June 10, 2002, M/s Roland Exports (successor of Goindwal Industrial … follow procedure laid down in Chapter IV. Chapter V relates to `Recovery of debt determined by the Tribunal'. Section 29 declares that the provisions of the Second and Third Schedules of the Income Tax Act, 1961 will apply … was the predecessor of the Stressed Assets Stabilisation Fund (`SASF' for short), financed the project undertaken by the Company by way of foreign currency loan

Assistant Commissioner of Income Vs. Apsara Processors (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2005)92TTJ(Ahd.)645

looking to other provisions which are pari materia to levy of concealment penalty. Section 143(1A), before amendment by Finance Act, 1993 reads as under: "143(1A)(a) Where, in the case of any person, the total income, as a result of … the amount of income in respect of which particulars have been concealed or inaccurate particulars have been furnished." 29. From the above Expln. 4(a), it is clear that now the legislature clearly provides for the levy of

Assistant Provident Fund Commissioner vs the Kerala State Human Rights ...

Court : Kerala

Ker. 3052], this Court held as under:“8. In exercise of the powers conferred by Section 10(2) read with Section 29 of the Protection of Human Rights Act, 1993, the Kerala State Human Rights Commission has made the Kerala … order issued by the 1st respondent is legally valid and comes under the provisions of Human Rights Commission Act, 1993 (hereinafter will be referred only as 'Act'). 'Human rights' is defined in Section 2(d) of the Act as … & MP Act, 1952, and the Kerala Co- operative Societies Employees Self Financing Pension Scheme, 1994, for pensionary benefits. Thereafter, by Exhibit P4 judgment, the

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

Bonds and Ordinary Shares (through Depository Receipts Mechanism) Scheme, 1993 (“the GDR Scheme”) issued by the Ministry of Finance, Government of India and the Master Circular on Foreign Investment issued by the RBI periodically. On the contrary, … Honble SAT in matter of V. Natarajan vs. SEBI (Order dated June 29, 2011 in Appeal no. 104 of 2011) wherein it was held: “… … Appellants from accessing the securities market for 10 years for the violation of Regulations 12A(a)-(c) of the SEBI Act, 1992 read with Regulations 3(c)-(d), and Regulations 4(1), 4(2)(c), 4(2)(e)-(f), 4(2)(k) and 4(2)(r) of the Securities and Exchange … trade practice in securities ….” 17. I note that the provisions of section 12A(a)-(c) of the SEBI Act read with regulations 3(c)-(d) of the PFUTP

Assam Leather Industry Vs. Union of India (Uoi) and ors.

Court : Guwahati

Subject : Banking

Acts : Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 25, 28 and 31; Constitution of India - Articles 14, 248, 323A, 323B and 371A; Code of Civil Procedure (CPC) ; Transfer of Property Act; Nagaland Administration of Justice Rules, 1937 - Rule 33

funds being blocked. To remedy the locking up of huge funds, Dr. Manmohan Singh, the then Minister of Finance, introduced the Recovery of Debts Due to Banks and Financial Institutions Bill, 1993, dated the April 26, 1993, … raise the question of legality, validity and constitutionality of Recovery of Debts Due to Banks and Financial Institution Act, 1993 (hereinafter called 'the Act'), and other actions related to the Debt Recovery Tribunal at Guwahati constituted under the … evident when one analyses Clause (3) of Article 32 of the Constitution.' 29. On the other hand the Punjab and Haryana High Court in Kundan … tried having been received by it on transfer from civil court under Section 31 of the Act. (ii) cases filed by financial institutions like the

Reliance Industrial Infrastructure Ltd. Vs. Jt. Cit

Court : Mumbai

Subject : Direct Taxation

Reported in : (2002)75TTJ(Mumbai)606

is only with effect from assessment year 1997-98 that the new provisions of section 145(2) substituted by the Finance Act, 1995, have come into operation which alone have empowered the Central Government to notify Accounting Standards to be … period 60 10,55,65,200.00Add As per supplemental agreement 8,03,380,00 10,63,68,580.00Less : Lease rent for previous period (2 days) March, 1993 1,13,510.00Total lease rentals for 15 years 10,62,55,070.00Lease rentals for 1 year 70,83,671.33Lease rent paid for 1995-96 (17,59,420 x … of the Tribunal in the case of Nagarjuna Finance Ltd. (ITA No. 2967/Hyd/1988) and Special Bench decision of the Tribunal in Dy. CIT v. Nagarjuna

Geo Seafoods Vs. Additional Sales Tax Officer Iv and anr.

Court : Kerala

Subject : Sales Tax

Acts : Kerala General Sales Tax Act, 1963 - Sections 17 and 17(6); Finance Act, 1993; Kerala General Sales Tax Rules, 1963 - Rule 32(21)

Reported in : [2000]119STC236(Ker)

of the assessments, then the entire assessments will be bad and likely to be struck down. By the Finance Act, 1993, the Legislature amended Section 17 of the Act and included Section 17(6). under Section 17(6), the maximum period … 1975-76 and 1976-77. The counter-affidavit states that the petitioner had filed returns for the year 1974-75 on April 29, 1975. Form 50 notice was issued to the petitioner on October 28, 1975 requesting the petitioner to produce