Karnataka Court August 2010 Judgments
Reserve Bank of India, (Rbi).Vs. S.N.Finance Limeted.
Court: Karnataka
Decided on: Aug-31-2010
ORDER1. In this petition under Section 45MC of the Reserve Bank of India Act, 1934 (for short 'Act') read with section 433 of the Companies Act the petitioner is seeking for an order to wind up the respondent company and to appoint the Official Liquidator.2. Petitioner is the Reserve Bank of India established under the Reserve Bank of India Act, 1934. Petitioner is the regulatory authority for Non Banking Financial Companies and is empowered to prescribe Prudential Norms, Issue directions, prohibit Non-Banking Financial Companies from accepting deposits and file winding up petitions. The petitioner issued the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998, Annexure-I and the Non-Banking F Companies Prudential Norms (Reserve Bank) Directions, 1998, Annexure-II by which the respondent company is bound3. Respondent Company is a company incorporated under the Companies Act, 195C with the main objects of carrying on hire purchase finance etc am...
Tag this Judgment!Smt.Uma @ Rajalakshmi W/O Sri G.Manjunath Age: About 32 Years.Vs. Sri ...
Court: Karnataka
Decided on: Aug-31-2010
1. In this civil petition filed by the wife under Section 24 of CPC, the petitioner is seeking for transfer of the proceeding in M.C.No.3/2009 filed by the respondent (husband) before the Court of the Civil Judge (Sr.Dn.) Kollegal, to the Family Court at Bangalore. The said proceeding is filed under Section 13(1) of the Hindu Marriage Act, 1955 for grant of a decree of divorce.2. I have heard the learned counsel appearing for the parties and perused the averments made in the petition. Learned counsel appearing for the petitioner submits that the petitioner along with her minor daughter studying in III standard is residing with her parents in Bangalore and it would cause great hardship to her to attend to the aforesaid Court proceeding at Kollegal which is more than 160 kms .away from Bangalore.3. Having regard to the hardship that would be caused to the petitioner, I deem it appropriate to direct transfer of the proceeding in M.C.No.3/2009 from the Court of the Civil Judge (Sr.Dn.), Ko...
Tag this Judgment!Sri. B.Chandrasekhar S/O Bojjanna Aged About 39 Years.Vs. State of Kar ...
Court: Karnataka
Decided on: Aug-31-2010
1.Petitioner has called in question the proceedings in C.C.No. 1793/2009 on the file of Addl. Chief Metropolitan Magistrate, Bangalore City.2. One Gopal filed a complaint before the Yelahanka New Town Police, Bangalore North, on 23.9.2008 for the offence punishable under Sections 323. 506 r/w 34 of the IPC interalia alleging that, on 14.9.2008 at 6.30 p.m. while the complainant was standing near Nagenahalli bus stop, the accused came, gave life threat and also assaulted. On the basis of the complaint, case was registered and on investigation the police has filed the charge sheet for the offence punishable under Sections 323, 506 r/w 34 of the IPC. During the course of investigation, the police has also recorded the statement of the witnesses who have supported the case of the prosecution. CW1 is the complainant and in her statement she has alleged that, the accused threatened and assaulted.Considering the nature of allegation and also filing of charge sheet, I find no good ground to qu...
Tag this Judgment!Dr.B.S.Ravi.Vs. Aldea Electronics Pvt. Ltd.
Court: Karnataka
Decided on: Aug-31-2010
ORDER1.Respondent is a Private Limited Company registered under the Companies Act, 1956. In the year 2001 Respondent - Company was facing acute financial trouble on account of withdrawal of working capital by their Banker - State Bank of Mysore. At that time, Respondent - Company approached the petitioner for funds with an offer to repay the same with interest at 18% p.a. Accordingly, the petitioner advanced a sum of Rs.8,64,000/- to the Respondent - Company. Up to 31.3.2005 the Respondent -Company made certain payments. In the month of March 2005 the Respondent - Company expressed its difficulty in payment of interest at 18% and requested the petitioner to reduce the rate of interest. Accordingly, w.e.f. 1.4.2005 by consent of the parties the rate of interest was reduced from 18% to 15% p.a. Thereafter, the Respondent - Company failed to pay the balance of principal and interest. On 18.5.2006 as per Annexure-B, petitioner issued notice calling upon the Respondent - Company to repay th...
Tag this Judgment!Machine Tools (iIndia) Ltd.Vs. Stray Field Heating Pvt.Ltd.
Court: Karnataka
Decided on: Aug-31-2010
ORDER1.The Petitioner Company is a commission agent for both Indian and foreign manufacturers of machine tools and spares with their head office at New Delhi and branch office in different parts of the country. For a long time the petitioner represented the respondent - company with various customers and sold the respondent company's heating machines and spares on commission basis. As per the debit notes raised by the petitioner company the respondent company is due in a sum of Rs.28,61,454.22 towards commission and interest as on 24.09.2009. Despite repeated requests, demands and letters the respondent company failed to pay the amount due to the Petitioner Company. Therefore the Petitioner Company is before this Court under Section 433(e) of the Companies Act, 1956 for winding up of the respondent company. 2.After service of notice the respondent company entered appearance and filed statement of objections inter alia denying and disputing the claim of Petitioner Company. 3.Heard argum...
Tag this Judgment!Sri Ananda S/O Chandrashekaran Age: 28 Years,vs. Smt. Swetha W/O Anand ...
Court: Karnataka
Decided on: Aug-31-2010
1. Heard. The civil petition is not maintainable. Accordingly, it stands dismissed.Civil Petition dismissed....
Tag this Judgment!Hemakuta Sugar and Allied Industries Ltd.Vs. Salar Jung Sugar Mills Lt ...
Court: Karnataka
Decided on: Aug-31-2010
ORDER1.The petitioner has filed this petition under Section 391 and 394 of the Companies Act, 1956, for sanction of compromise or arrangement whereby all the members, unsecured, secured and preferential creditors of the respondent - Company will be benefited.2 Petitioner - company was incorporated under the provisions of the Companies Act, 1956 (for short the Act'). One of the objects of the petitioner - company is to take over the assets and liabilities of the respondent - company.3. One of the objectors - M/s. Karnataka Food and Civil Supplies Corporation Limited filed Co.P. No. 82/1989 against the respondent - company for winding up under Section 433(e) and (f) of the Act. During the pendency of Co.P. No. 82/1989, the Board for Industrial and Financial Reconstruction (for short (the BIFR'), in case No. 127/1988, by its order dated 2.1.1996 under Section 20(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 recommended winding up of respondent - Company. Consequently ...
Tag this Judgment!Sri. Domnic Dixon Son of Late Briyan Dixon Aged 3 Years.Vs the State o ...
Court: Karnataka
Decided on: Aug-31-2010
1. Petitioner has called in question the proceedings in C.C.No.24642/2010 on the file of XI Addl. Chief Metropolitan Magistrate, Bangalore. 2. Complaint was filed before the Banasavadi police for the offence punishable under Section 506 of the IPC, which is registered in Crime No.673/2009. On investigation, police has filed the charge sheet.3. Case of the complainant is that, there was a financial transaction between the complainant and the accused. In this regard, the accused has given life threat to the complainant. The police, auring the course of investigation has recorded the statements of witnesses. 4. Prima facie, the material shows the alleged offence committed by the petitioner. Not a case for interference.Petition dismissed....
Tag this Judgment!Fortune Financial Services (i) Limited.Vs. Golden Gate Properties Limi ...
Court: Karnataka
Decided on: Aug-31-2010
1.Petitioner is a Class-I Merchant Bankers engaged in the business of providing financial advise and cooperation. Respondent is a registered company under the Companies Act, 1956 having its registered office at Bangalore. The main objects of the Respondent company is to carry on business of Real Estate and property development in India and abroad. In the year 2004, the Respondent Company appointed the petitioner as its financial consultants. On 27.10.2006 there came to be an agreement between the petitioner and the respondent company as per Annexure-B specifying the terms and conditions. In terms of the agreement, the Respondent Company paid a sum of Rs.10,00,000/- on 13.2.2007 to the petitioner. On account of service and assistance rendered by the petitioner two investors by name Morgan Stanley and Deutsche Bank's REEF Fund evidenced prima-facie interest in December 2006 and January 2007 to invest money in Respondent Company. Finally the Deutsche Bank agreed to invest a sum of Rs.273....
Tag this Judgment!Sri. M. S. Srinivasan S/O Late. M.V. Shamanna Aged About 63 Years.Vs. ...
Court: Karnataka
Decided on: Aug-31-2010
1. This petition is directed against the order dated 29.12.2008 in PCR No.4286/2008 on the file of 13th Addl. Chief Metropolitan Magistrate, Bangalore.2. Petitioner has filed a private complaint for the offence punishable under Section 138 of the Negotiable Instruments Act. The trial Court took cognizance by order dated 1.3.2008. Since then, the petitioner had not appeared before the trial Court. The trial Court after granting sufficient time, has dismissed the complaint by order dated 29.12.2008. Nearly after lapse of more than one and half years, this petition has been filed. I do not find any good ground to interfere with the order of the trial Court. Petition dismissed...
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