Advanced Search Results

Malanpur Steels Ltd. Vs. Adjudicating and Enquiry Officer

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

Subject : Company

there is no hurdle in any of the provisions of SICA against the maintainability and prosecution of a criminal complaint duly instituted under Section 142 of the NI Act.Kailash Nath Agarwal and Ors. v. Pradeshiya Industrial and

Dyna Lamps and Glass Works Limited Vs. Union of India (Uoi)

Court : Chennai

Subject : Customs

Acts : Constitution of India - Article 226; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22

Reported in : [2003]115CompCas401(Mad); 2002(146)ELT287(Mad); [2004]52SCL186(Mad)

Peterson Securities Ltd., and Ors. reported in : the Apex Court held that Section 22 does not bar criminal proceedings against the company or its directors with respect to the dishonour of cheque drawn by a company … the bank guarantees had been furnished, will not fall under Section 22 or any other provisions of the SICA Act. It was nextly contended that there is no automatic extension of time to complete the export obligation

Paam Pharmaceuticals (Delhi) Ltd. (M/S.) Vs. State and Others

Court : Delhi

Subject : Criminal

Acts : Code of Criminal Procedure (CrPC), 1973 - Sections 482; Negotiable Instruments Act, 1881 - Sections 138; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22 and 138

Reported in : 2000VAD(Delhi)15; [2003]115CompCas275(Delhi)

offending cheques were issued in 1997. The question is whether Section 22 or 22-A of SICA affects a criminal case for an offence under Section 138 of the Act. A similar question was more recently considered by

Aefloat Textiles (India) Ltd. and anr. Vs. Boghara Polyfab Pvt. Ltd.

Court : Mumbai

Subject : CriminalBanking

Acts : Negotiable Instruments Act, 1881 - Sections 138; Sick Industrial Companies (Special Provisions) Act, 1986 - Sections 16(2), 22 and 22A; Code of Criminal Procedure (CrPC) - Sections 482; Constitution of India - Article 227

Reported in : IV(2008)BC62; 2007(6)BomCR425; [2009]149CompCas237(Bom); 2008CriLJ1494

issued by the learned Magistrate on 4-5-2006 against the present petitioners and the said order was carried in Criminal Revision Application No. 959 of 2006 before the Sessions Court. The said revision application has been dismissed by … the scheme of Sections 22 and 22A of the Sick Industrial Companies (Special Provisions) Act, 1986 (for short SICA) the complaint filed under N.I. Act is required to be quashed and set aside. Mr. Soni the learned

Kusum Ingots and Alloys Ltd., Etc. Vs. Pennar Peterson Securities Ltd. ...

Court : Supreme Court of India

Subject : Criminal

Acts : Negotiable Instruments Act, 1881 - Sections 138 to 141; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 16, 17, 22, 22(1), 22A and 25

Reported in : AIR2000SC954; 2000CriLJ1464; 84(2000)DLT229(SC); [2000(85)FLR122]; JT2000(2)SC390; (2000)ILLJ1649SC; 2000(2)SCALE80; (2000)2SCC745; [2000] 1 SCR 1120

of Industrial and Financial Reconstruction (for short 'BIFR'). On receipt of the summons from the Court in the criminal case registered on the basis of the complaint the accused company and/or its Directors filed petitions under Section … depends on interpretation of Section 138 of the NI Act and its interaction with the relevant provisions of SICA. Since the relevant facts involved in all the cases are similar and a common question of law arises

Bharat Metal Box Co. Ltd. Vs. G.K. Strips (P.) Ltd.

Court : Andhra Pradesh

Subject : BankingCriminal

Acts : Negotiable Instruments Act, 1881 - Sections 138; Code of Criminal Procedure (CrPC) , 1973 - Sections 482; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22A; Companies Act, 1956

Reported in : 2002(2)ALT(Cri)482; [2003]41SCL264(AP)

same the accused Nos. 1 to 3, namely, the company, the Managing Director and the Director presented this criminal petition.3. The learned counsel appearing for the petitioners has contended that the petitioner-company is a sick company and … contends that his right to prosecute for non-payment of the amount cannot be defeated by virtue of the SICA proceedings and the question of quashing the proceedings does not arise. The learned Public Prosecutor contends that it

Mardia Steel Ltd. and ors. Vs. Nava Bharat Ferro Alloys Ltd. and anr.

Court : Andhra Pradesh

Subject : SICACriminal

Acts : Negotiable Instruments Act, 1881 - Sections 138; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22 and 22A

Reported in : 2002(2)ALT(Cri)331; [2004]119CompCas699(AP); [2004]56SCL109(AP)

that the proceedings under Section 22A of the Sick Industrial Companies (Special Provisions) Act, 1985 (for short 'the SICA'), have been issued in respect of the first petitioner-company and therefore, it is a bar for launching criminal … Ch.S.R.K. Prasad, J.1. The petitioners invoke the inherent powers of this court under Section 482 of the Criminal Procedure Code, 1973, to quash the proceedings initiated against them in C. C. No. 475 of 1999 on

Rom Industries Ltd. and anr. Vs. State of M.P. and anr.

Court : Madhya Pradesh

Subject : SICACriminal

Acts : The Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 3(1) and 22; Negotiable Instruments Act, 1881 - Sections 138; Code of Criminal Procedure (CrPC) - Sections 190 and 482

Reported in : 2000(1)MPHT433; 2000(3)MPLJ125

Code of Criminal Procedure. Learned counsel for the petitioners, relying on the provisions of Section 22 of the SICA, vehemently contended that since the petitioner No. 1 (Company) had been declared a sick company and was not … the same were returned unpaid on 27-8-96. On the above facts and circumstances, the respondent No. 2 filed criminal complaint No. 1721/97 dated 18-10-96 against the petitioners under Section 138 of the Negotiable Instruments Act in the

D.K. Kapur Vs. Reserve Bank of India and ors.

Court : Delhi

Subject : Banking

Acts : Companies Act, 1956 - Sections 433, 442 and 446(1); Companies (Court) Rule 1959 - Rule 117; Reserve Bank of India Act, 1934 - Sections 45, 58B, 58C, 391, 442, 454, 457, 542, 545 and 621; Companies Act, 1913 - Sections 179; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22; Negotiable Instruments Act, 1881 - Sections 141, 538 and 541; Code of Criminal Procedure (CrPC) , 1973 - Sections 407

Reported in : 2001IIAD(Delhi)259; 90(2001)DLT127

read with Rule 117 of the Companies(Court) Rule 1959 (for short 'the Rules') granting leave to pursue its criminal complaint for the offences under Sections 58B(5)(aa), 58B(6) read with Section 58C of the Reserve Bank of India … Act, 1881, against the companies, which have approached the Board for Industrial Finance and Reconstruction seeking declaration under SICA, that they have become sick. It was held that:- 'The said contention is (sic) of merits. The word

World Tex Limited and ors. Vs. State of Rajasthan and anr.

Court : Rajasthan

Subject : Criminal

Acts : Negotiable Instrument Act, 1881 - Sections 138; ;Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22 and 22A

Reported in : II(2003)BC261; 2004CriLJ420; RLW2003(2)Raj855; 2003(1)WLC775; 2003(1)WLN614

20 of the judgment delivered in Kusum Ingots & Alloys Ltd.'s case.18. In our considered view Section 22 SICA does not create any legal impediment for instituting and proceeding with a criminal case on the allegations of … For Industrial And Financial Reconstruction (in short the BIFR) on 31.3.2000 prior to issuance of these cheques, hence criminal proceedings under Section 138 of the Act, 1881 are liable to be quashed. Reliance is placed upon Kusum