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Maxlux Glass Private Limited Vs. Icici Limited Company

Court : Kolkata

Subject : CompanyBanking

Acts : Companies Act, 1956 - Sections 162, 433, 434, 434(1), 439 and 446;; Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 2, 3, 4, 5, 6, 7, 8, 17, 18, 25, 30, 31 and 34;; Constitution of India - Articles 226 and 227;; Industrial Finance Corporation Act, 1948;; State Financial Corporation Act, 1951;; Unit Trust of India Act, 1963;; Industrial Reconstruction Bank of India Act, 1984;; Stock Industrial Companies (Special Provisions) Act, 1985;; Stock Industrial Companies (Special Provisions) (Amendment) Act, 1986

Reported in : (2001)2CALLT539(HC)

petitioner along with Industrial Development Bank of India (IDBI) and the Industrial finance Corporation of India Limited (IFCI) entered into a participation loan agreement for … Tribunal that is Debt Recovery Tribunal created under the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as the Act of 1993) and heavy reliance was placed by the applicant on the … transferred on that to suchTribunals.13. Section 34 gives an overriding effect to the provisions of the Act of 1993. Section 34 reads as under'34. Act to have overriding effect. (1) Save as provided under subsection (2), the provisions … exercising jurisdiction under Articles 226 and 227 of the Constitution in relation to matters specified in section 17.12. Section 31 deals with the transfer of cases pending before any Court immediately before the date of establishment of a

Tungabadra Sugar Works Mazdoor Sangh Represented by Its President Vs. ...

Court : Chennai

Subject : Company

Acts : Companies Act, 1956 - Sections 442, 446, 446(1), 456, 457, 529A, 530 and 537; Income Tax Act, 1961; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19(7), 19(19), 19(22), 25 to 30, 32, 34, 34(1) and 34(2); State Financial Corporations Act, 1951 - Sections 31 and 46B; Industrial Finance Corporation Act, 1948; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Income Tax Rules - Rules 38 and 52(2); Companies (Court) Rules, 1959 - Rules 9 and 117; Recovery of Debts Due to Banks and Financial Institutions Rules; Constitution of India - Articles 136, 226 and 227

Reported in : (2009)8MLJ15

shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporations Act, 1951 … has to get guided by the provisions made under Section 29 as well as Section 19(19) of RDDB Act, 1993. Also the guidelines laid down by the Hon'ble Supreme Court of India in Civil Appeal No. 2536 of … discussed in International Coach Builders Ltd. The Debts Recovery Tribunal and the District Court entertaining an application under Section 31 of the SFC Act should issue notice to the Liquidator and hear him before ordering a sale, as

Dr. Archana Srivastava Vs. State of U.P. and ors.

Court : Allahabad

Subject : ServiceConstitution

Acts : Uttar Pradesh State Universities Act, 1973 - Sections 2, 7(1), 13(6), 31, 31(1), 31(2), 31(3), 31(4), 31(6), 31(10) and 68; Uttar Pradesh State Universities Rules; Constitution of India - Articles 12, 14 and 16; Uttar Pradesh State Universities (Validation of Appointments) Act, 1984 - Sections 2

Reported in : 2005(3)ESC1631

321 ; and Faridabad C.T. Scan Centre v. D.G. Health Services and Ors., (1997) 7 SCC 752.38. In Finance Commissioner (Revenue) v. Gulab Chandra and Anr., 2001 AIR SCW 4774, the Hon'ble apex Court rejected the contention … a substantive capacity made by the Executive Council of the University in the meeting held on 7.12.2003 under Section 31(3)(b) of the U.P. State Universities Act, 1973 (hereinafter referred to as the 'Act') has been cancelled.2. The petitioner

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

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, … 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 … Tribunal or cases sought to be 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 Assam Financial Corporation, National Insurance etc., stating

Unique Engineering Works Vs. Union of India (Uoi) and ors.

Court : Uttaranchal

Subject : BankingSICA

Acts : Constitution of India - Article 226; Debt Recovery Tribunal Act, 1993; ;Sick Industrial Companies (Special Provision) Act, 1985 - Sections 15 and 22; Impunged Act, 2002; Non-performing Asset Act, 2002 - Sections 2, 2(1), 5, 9, 12, 13(2), 13(4), 13(5), 13(8), 13(13), 17(2), 19 and 31; Contract Act, 1872 - Sections 172; Debt Recovery Tribunal (Amendment) Act, 2003; Code of Civil Procedure (CPC) , 1908 - Sections 60

Reported in : II(2004)BC241

Extraordinary and urgent situations demand extraordinary remedial measures particularly in economics and finance. With globalization, India has become a signatory to various International Conventions, which … recovery was delayed and, therefore, the Government enacted The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to for the sake of brevity as the DRT Act, 1993). However, assets, which were charged … 2002 is directed against the residential house of the guarantor, which is not permitted under the provisions of Section 31 (g) of the impugned NPA Act, 2002. Scope of NPA Act, 2002 read with Reserve Bank of India

State Bank of India, represented by its Chief Manager Vs. Ramakrishnan ...

Court : Kerala

Subject : Land Acquisition

filed before the Civil Court for realisation of money by SBI Home Finance Ltd., a Company registered under the Companies Act and which is not … bank or financial institution within the purview of the Recovery of Debts due to Banks and Financial Institutions Act, 1993, would cease to be maintainable before the Civil Court when the assets and liabilities of the plaintiff Company … under articles 226 and 227 of the Constitution) in relation to the matters specified in section 17. 9. Section 31 of the Recovery of Debts Act provides that every suit or other proceeding pending before any court immediately

Punjab National Bank Vs. Bengal Potteries Ltd. (In Liqn) and ors.

Court : Kolkata

Subject : Banking

Acts : Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 31, 31(1) and 34(1); ;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; ;Companies Act, 1956 - Sections 446, 643, 643(1) and 643(2); ;Code of Civil Procedure (CPC) - Sections 144 and 151; ;Code of Criminal Procedure (CrPC) - Section 384; ;Constitution of India - Articles 142, 226 and 227; ;Company Court Rules, 1959 - Rule 9; ;Supreme Court Rules - Order 31 - Rule 15(1)

Reported in : 2008(4)CHN727

shall be in addition to, and not in derogation of. The Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporations Act, 1951 … prior to the filing of the aforesaid suit The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as the Act of 1993) had already come into operation and the Debts Recovery Tribunal … herein made an application before the Registrar for transfer of the suit to the Debts Recovery Tribunal under Section 31 of the Act. The request of the appellant was accepted and the suit was transferred to the Debts

Maharashtra State Financial Corporation Vs. Magna Elastomeric Rollers ...

Court : Mumbai

Subject : Commercial

Acts : State Financial Corporation Act, 1951 - Sections 17, 29, 30, 31, 31(1), 32, 34, 34(1) and 34(2); Recovery of Debts due to Banks and Financial Institutions Act, 1993; Debts Recovery Tribunal Act - Sections 17

Reported in : 2005(2)ALLMR290; III(2005)BC224; 2005(4)BomCR661

financial assistance to the tune of Rs.37,50,000/- for the purpose of part finance towards the cost of the project on 27.2.1992. Respondent no.1 to 6 … view of the enforcement of the provisions of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 particularly section 17 thereof. The learned counsel for the respondent has relied upon the judgment of the apex … S.U. Kamdar, J.1. The present petition is filed under section 31 and 31(1)(aa) and 32 of the State Financial Corporation Act, 1951. Some of the few facts of 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 … Rs. 10,55,65,200. The said lease agreement is given at pages 1 to 31 of the paperbook. The schedule to the agreement mentions the date of

Videsh Sanchar Nigam Ltd. Vs. Joint Commissioner of Income Tax

Court : Mumbai

Subject : Direct Taxation

Reported in : (2001)69TTJ(Mumbai)882

officer also referred to the Central Board of Direct Taxes letter and the letter of the then Hon'ble Finance Minister, dated 31-3-1994, with regard to the allowability of the licence fees and held that 'the position highlighted … for the assessment year 1995-96, for the previous year ended 31-3-1995, under section 143(3) of the Income Tax Act, the assessing officer noticed from Schedule 18 of the accounts (network cost) that the assessee had debited a … the licence fees had been introduced. In the assessment years 1992-93 and 1993-94 in which the DOT levy had been claimed as deduction as revenue