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Kolkata Court April 2012 Judgments

Apr 16 2012

Srei Equipment Finance Pvt. Ltd. Vs. Ramchander Yadav and anr.

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET AP No.221 of 2012 IN THE HIGH COURT AT CALCUTTA ORIGINAL SIDE SREI EQUIPMENT FINANCE PVT.LTD.Versus RAMCHANDER YADAV & ANR. BEFORE: The Hon'ble JUSTICE INDIRA BANERJEE Date :16. h April, 2012. Appearance: Mr.Satarup Banerjee, Adv.The Court :- The petitioner financed Rs.31,91,000/- to the respondent no.1 for purchase of the assets specified in Annexure B of the petition. The amount advanced along with interest was repayable in 34 equal commencing monthly instalments of Rs.1,20,700/- per month from 15th May, 2011. An agreement dated 15th March, 2011 was executed by and between the petitioner and the respondents in terms whereof the petitioner has the right to take possession of the assets upon breach of the terms and conditions of the agreement, including default in payment of any instalments. The agreement also contains a clause for adjudication of disputes by arbitration. The respondent no.1 paid the 1st instalment and part of the second instalment and a sum of thereafter c...

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Apr 16 2012

Sethia Oil Industries Ltd. Vs. Commr. of Income Tax Iii Kolkata

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET ITA NO.177 OF 200.IN THE HIGH COURT AT CALCUTTA Special Jurisdiction(income tax) ORIGINAL SIDE SETHIA OIL INDUSTRIES LTD.Versus COMMr.OF INCOME TAX III KOLKATA BEFORE: The Hon'ble JUSTICE KALYAN JYOTI SENGUPTA The Hon'ble JUSTICE ASIM KR. MONDAL Date :16. h April, 2012. The Court : This appeal was admitted by the judgment and order dated September 27, 2005 in relation to the assessment year 2001-2002 on the following substantial questions of law: (I) Whether on a true and proper interpretation of the provisions of sections 80AB, 80B, 80IA and 80IB of the Income Tax Act, 1961, the Tribunal was justified in law in holding that the loss of Rs.32,72,463/- incurred in the legible business of the new refinery plant in the assessment year 2000-2001 and set off against other business income of that year was required to be fictionally carried forward and set off against the profits of the said legible business for the assessment year 2001-2002 for the purpose of determining the quan...

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Apr 16 2012

Magma Fincorp Limited Vs. Sanjay Kumar Sahoo and anr.

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET AP No.195 of 2012 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE MAGMA FINCORP LIMITED Versus SANJAY KUMAR SAHOO & ANR. BEFORE: The Hon'ble JUSTICE INDIRA BANERJEE Date :16. h April, 2012. Appearance: Mr.P.Saha, Adv.The Court :- The petitioner financed Rs.17,89,709/- to the respondent no.1 for purchase of the assets specified in paragraph 2 of the petition. The amount advanced along with interest was repayable in 40 (forty) equal monthly instalments of Rs.45,000/- per month commencing from 1st May, 2011 and ending on 31st July, by and between petitioner has the the 2014. An agreement dated 6th April, 2011 was executed petitioner right to and take the respondents possession of the in terms assets in whereof default the of compliance with the terms and conditions of the agreement including in payment of any instalment. The agreement also contains a clause for resolution of disputes by arbitration. The respondent no.1 paid six instalments and ...

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Apr 16 2012

Magma Fincorp Ltd.Petitioner Vs. Subrat Narayan Jena and ors.Responden ...

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET A.P.No.272 of 2012 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE MAGMA FINCORP LTD.Petitioner Versus SUBRAT NARAYAN JENA & ORS.Respondents BEFORE: The Hon'ble JUSTICE INDIRA BANERJEE Date :16. h April, 2012. For Petitioner : Ms.Sutapa Sanyal, Adv.The petitioner financed Rs.13,27,000/- to the respondent no.1 for purchase of the asset of the specifications given in paragraph 2 of the petition. The amount advanced, along with interest, was repayable in 47 monthly instalments of Rs.18,146/- per month. An agreement dated 8th September, 2010 was executed by and between the petitioner and the respondents, in terms whereof the petitioner has the right to take possession of the assets, in default of compliance with the terms and conditions of the agreement, including default in payment of any instalment. The agreement also contains a clause for resolution of disputes by arbitration. The respondent no.1 has paid fourteen instalments and part of the ...

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Apr 16 2012

Magma Fincorp Ltd.Petitioner Vs. Narayan Mohapatra and anr.Respondents

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET A.P.No.271 of 2012 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE MAGMA FINCORP LTD.Petitioner Versus NARAYAN MOHAPATRA & ANR. Respondents BEFORE: The Hon'ble JUSTICE INDIRA BANERJEE Date :16. h April, 2012. For Petitioner : Mr.Priyankar Saha, Adv.The petitioner financed Rs.19,00,000/- to the respondent no.1 for purchase of asset of the specifications given in paragraph 2 of the petition. The amount advanced, along with interest, was repayable in 46 monthly instalments of Rs.56,000/- per month and the 47th instalment of Rs.20,451/-. An agreement dated 19th August, 2011 was executed by and between the petitioner and the respondents, in terms whereof the petitioner has the right to take possession of the assets, in default of compliance with the terms and conditions of the agreement, including default in payment of any instalment. The agreement also contains a clause for resolution of disputes by arbitration. The asset is located in Cuttack. ...

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Apr 16 2012

Brentwood Investment Limited Vs. C.i.T. Ii Kolkata

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET ITA NO.430 OF 200.ITA NO.428 OF 200.IN THE HIGH COURT AT CALCUTTA Special Jurisdiction(Income Tax) ORIGINAL SIDE BRENTWOOD INVESTMENT LIMITED Versus C.I.T.- II KOLKATA BEFORE: The Hon'ble JUSTICE KALYAN JYOTI SENGUPTA The Hon'ble JUSTICE ASIM KR. MONDAL Date :16. h April, 2012. The Court : We think that an identical point was raised in another appeal in the case of Chhatrapati Industries LTD.versus Commissioner of Income Tax, West Bengal, and by our order dated January 6, 2012, we had disposed of the said appeal. The said order dated January 6, 2012 is also adopted in this matter. This is an order of remand. By the impugned judgment and order, the learned Tribunal has not decided anything and just merely remanded the matter for fresh decision to the Assessing Officer. decision was taken. Consequently, no We do not think that we should express any opinion. We are of the view that since there has been no stay of operation of the impugned judgment and order of the learned Trib...

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Apr 16 2012

Magma Fincorp Ltd.Petitioner Vs. Indradeo Yadav and anr.Respondents

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET A.P.No.275 of 2012 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE MAGMA FINCORP LTD.Petitioner Versus INDRADEO YADAV & ANR. Respondents BEFORE: The Hon'ble JUSTICE INDIRA BANERJEE Date :16. h April, 2012. For Petitioner : Ms.Sutapa Sanyal, Adv.The petitioner financed Rs.36,70,000/- to the respondent no.1 for purchase of the asset of the specifications given in paragraph 2 of the petition. The amount advanced, along with interest, was repayable in 47 monthly instalments. An agreement dated 6th February, 2009 was executed by and between the petitioner and the respondents, in terms whereof the petitioner has the right to take possession of the assets, in default of compliance with the terms and conditions of the agreement, including default in payment of any instalment, sell the same and realize the proceeds thereof towards protanto satisfaction of its dues. The agreement also contains a clause for resolution of disputes by arbitration. The re...

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Apr 16 2012

M/S Divine Data Forms (P) Ltd and anr. Vs. Estate Officer Kolkata Port ...

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET WP NO.276 OF 201.IN THE HIGH COURT AT CALCUTTA Constitutional Writ Jurisdiction ORIGINAL SIDE M/S DIVINE DATA FORMS (P) LTD & ANR. Versus ESTATE OFFICER KOLKATA PORT TRUST & ORS.BEFORE: The Hon'ble JUSTICE DIPANKAR DATTA Date :16. h April, 2012. Mr.S.Talukdar, Sr.Adv.AppeaRs.Mr.J.Kar, Adv.AppeaRs.The Court : Supplementary affidavit filed by the petitioners be retained with the record. The petitioners have challenged an order of eviction passed by the Estate Officer in terms of provisions contained in the Public Premises (Eviction of Unauthorised Occupants Act, 1971 by filing an appeal under section 9 thereof before seeking condonation of the delay learned in District presenting Judge, the Howrah. appeal and Application a connected application for stay have been fixed for hearing by the learned District Judge on May 4, 2012. It is the grievance of the petitioners that after informing the Kolkata Port Trust, being the landlord, and the Estate Officer that the appeal had been ...

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Apr 16 2012

Srei Equipment Finance Pvt. Ltd.Petitioner Vs. Shree Girraj Ji Stone C ...

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET A.P.No.280 of 2012 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE SREI EQUIPMENT FINANCE PVT.LTD.Petitioner Versus SHREE GIRRAJ J.STONE Co.& ORS.Respondents BEFORE: The Hon'ble JUSTICE INDIRA BANERJEE Date :16. h April, 2012. For Petitioner : Mr.Satarup Banerjee, Adv.The petitioner financed Rs.45,64,000/- to the respondent no.1 for purchase of the assets of the specifications given in paragraph 2 of the petition. The amount advanced, along with interest, was repayable in 35 monthly instalments of Rs.1,55,300/- per month commencing from 5th January, 2011 and ending on 5th November, 2013. An agreement not LAY 56.(HL0038454) dated 15th October, 2009 was executed by and between the petitioner and the respondents, in terms whereof the petitioner has the right to take possession of the assets, in default of compliance with the terms and conditions of the agreement, including default in payment of any instalment. The agreement also contains a clau...

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Apr 16 2012

Magma Fincorp Ltd.Petitioner Vs. Bhagirath Yadav and anr.Respondents

Court: Kolkata

Decided on: Apr-16-2012

ORDER SHEET A.P.No.277 of 2012 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE MAGMA FINCORP LTD.Petitioner Versus BHAGIRATH YADAV & ANR. Respondents BEFORE: The Hon'ble JUSTICE INDIRA BANERJEE Date :16. h April, 2012. For Petitioner : Mr.Priyankar Saha, Adv.The petitioner financed Rs.34,10,000/- to the respondent no.1 for purchase of the asset of the specifications given in paragraph 2 of the petition. The amount advanced, along with interest, was repayable in 46 monthly instalments. An agreement dated 8th April, 2009 was executed by and between the petitioner and the respondents, in terms whereof the petitioner has the right to take possession of the assets, in default of compliance with the terms and conditions of the agreement, including default in payment of any instalment. The agreement also contains a clause for resolution of disputes by arbitration. The respondent no.1 has paid two instalments and thereafter committed defaults. Accordingly, the ...

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