Advanced Search Results

M/S. Global Infrastructure Technologies Ltd. Vs. Kotak Mahindra Bank L ...

Court : Delhi

Subject : Land Acquisition

KMBL, seeking abatement of the reference made by the petitioner under the third proviso to Section 15(1) of SICA. The application had been filed on the ground that KMBL held more than 3/4ths in value of the … Ms. Maneesha Dhir with Ms. Geeta Sharma, Ms. Vinita Sasidharan and Ms. Mithu Jain, Advocates. versus KOTAK MAHINDRA BANK LTD. & ORS. .....Respondents Through: Mr. T.K. Ganju, Sr. Advocate with Mr. Sanjay Bhatt and Mr. Abhishek, Advocates

Ksl and Industries Ltd. Vs. M/S. Arihant Threads Ltd. and ors.

Court : Supreme Court of India

Subject : Land Acquisition

of the decisions of this Court dealing with this aspect may be noticed in Ram Narain Vs. Simla Banking & Industrial Co. Ltd.[2].. Two statutes, both containing non-obstante clauses providing that the particular provisions of the Act … aside and directed refund of sale amount to the appellant.9. On 21.12.05, the Company invoked the provisions of SICA. It filed a Reference before the Board of Industrial Finance & Reconstruction (`BIFR' for short). On 10.02.06, the

M/S. Svpcllimited,d. No.11-13-173/11and12 Vs. The State Bank ofindia a ...

Court : Andhra Pradesh

Subject : Land Acquisition

Bank ; Sarwan Singh20; Kumaon Motor Owners Union Ltd.v.State of Uttar Pradesh ; Shri Ram Narain v. Simla Banking and Industrial Co.LTD.).The SARFAESI Act is an Act made to regulate securitisation and reconstruction of financial assets and … taken on 28.03.2014, as violative of the provisions of Sick Industrial Companies (Special Provisions) Act, 1985 (for short SICA).The petitioner was initially constituted as a partnership firm in the year 1992. It was later converted into a

Noble Aqua Pvt. Ltd. and 2 ors. Vs. State Bank of India and 4 ors.

Court : Orissa

Subject : SICA

Reported in : AIR2008Ori103; 106(2008)CLT126; [2009]148CompCas817(Orissa); 2008(I)OLR702

Industrial and Financial Reconstruction (hereinafter referred to as the 'BIFR') by an application under Section 15(1) of the SICA on 7.10.2005 in the requisite form. Initially the BIFR refused to register the reference, but the petitioner appealed … by its order dated 19.10.2006 sent notices to different parties including the Chairman and Managing Director of State Bank of India and fixed the date of hearing to 14.11.2006 in the office of BIFR, New Delhi.3. In

Sri Bireswar Das Mohapatra and anr. Vs. State Bank of India

Court : Orissa

Subject : Banking

Acts : Companies Act, 1956 - Sections 439, 442, 444, 446, 529A, 536(2) and 537; Foreign Exchange Regulation Act, 1973; Income Tax Act, 1961 - Sections 72 and 72A; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 20, 34, 34(1) and 34(2); 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 - Sections 16, 20, 20(1), 20(2), 20(3), 20(4), 22, 22A and 32; Small Industries Development Bank of India Act, 1989; Urban Land (Ceiling and Regulation) Act, 1976; Recovery of Debts Due to Banks and Financial Institutions Rules; Code of Criminal Procedure (CrPC) - Sections 198(13); Constitution of Indi

Reported in : 2006(II)OLR423

being TMS No. 207 of 1993. Thereafter the said company was declared sick and under the provisions of SICA the BIFR made a recommendation under Section 20 of SICA for its winding up. On the basis of … This writ petition has been filed by the guarantors to the loanee who obtained loan from the State Bank of India, Bhubaneswar, Industrial Estate Branch (hereinafter referred to as the 'SBI'). The petitioners are also erstwhile Managing

Vdcs Enterprises and anr. Vs. Union of India (Uoi) and ors.

Court : Delhi

Subject : SICA

Acts : Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 18, 19, 19(2) and 19(3A)

Reported in : 125(2005)DLT385; 2005(85)DRJ420

the petitioner to the respondent. BIFR from time to time has issued directions under Section 19 of the SICA to the Operating Agency i.e. Haryana Financial Corporation that they may settle the amount of dues in terms … into one time settlement with Haryana State Industrial Development Corporation and had also paid the dues of State Bank of Patiala. On 15.2.2002 BIFR expressed its anguish that on 19.2.2003 BIFR directed the petitioner to deposit a

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

consider some of the decisions of this Court on this vexed issue.49. In Shri Ram Narain v. Simla Banking & Industrial Co. Ltd. : [1956]1SCR603 , two competing statutes came up for consideration before this Court being … 2005, the Company filed a Reference before the Board of Industrial Finance & Reconstruction (`BIFR' for short) under SICA which was registered as BIFR Case No. 4 of 2006. On February 10, 2006, DRAT dismissed the appeal

inderjeet Arya and Another Vs. Icici Bank Ltd.

Court : Delhi

Subject : Land Acquisition

note of the observations of the Supreme Court in Nahar Industrial Enterprise Limited Vs. Hong Kong and Shanghai Banking Corporation, JT 2009 (10) SC 199. 21.1 The Supreme Court in this case was dealing with a situation … of its reference under Section 15 of the Sick Industrial Companies (Special Provisions) Act, 1985 (in short “the SICA”) with the Board for Industrial and Financial Reconstructions (in short “the BIFR”). The reference was filed on 02.04.2009.

Salem Textiles Limited Vs. Authorized Officer of Phoenix Arc Private L ...

Court : Chennai

Subject : Land Acquisition

of BIFR:5. 8.1 The Committee had the benefit of hearing the views of the Union Labour Secretary, Union Banking Secretary and experts representing financial institutions, commercial bodies and Indian Bankers Association on the subject. These organisations and … culminating in an order declaring the company to be sick, the third proviso inserted under Section 15(1) of SICA could not be invoked.6. But the decision of the Division Bench of the Orissa High Court was not

Axis Bank Limited Vs. Naturol Bioenergy Limited

Court : Andhra Pradesh

Subject : Land Acquisition

is registered with the BIFR, any restructuring of the company would be governed only by the provisions of SICA; it is only the BIFR which is empowered thereafter to sanction a restructuring scheme with the consent of … was sought for submission of the report of the Chairman. Thereafter, on 06.01.2012, this Court noted that Axis Bank had raised objections with regards acceptance of the Chairman’s report and, hence, the application was adjourned to 18.12.2012