Mumbai Court November 1993 Judgments
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Reserve Bank of India and Another Vs. Joint Provisional Liquidators Ba ...
Court: Mumbai
Decided on: Nov-12-1993
Reported in: AIR1994Bom177; (1993)95BOMLR230
ORDER1. The Reserve Bank of India,which is a Central Bank in this country (i.e. India) and which controls the banking companies and banking in this country is the petitioner in this petition. The petition has been filed under S. 38(3) of the Banking Regulation Act, 1949 (Act X of 1949) (in short Banking Act) read with Ss. 582, 583 and 584 of the Companies Act, 1956 (1 of 1956) (hereinafter for brevity sake referred to as 'the Companies Act) for winding up of the Bank of Credit and Commerce International (Overseas) Limited, an unregistered company having its branch at Bombay. (For brevity sake hereinafter said Bank is referred to as BCCI(O)). Principal reliefs claimed and as incorporated in prayers (a), (b) and (c), inter alia, are as under:--'(a) That the Bank of Credit & Commerce International (Overseas) Limited, Bombay be wound up by and under the direction of this Hon'ble Court under the provisions of the Banking Regulation Act, 1949 read with Companies Act, I of 1956;(b) That the S...
Oil and Natural Gas Commission Vs. Off-shore Enterprises Inc.
Court: Mumbai
Decided on: Nov-12-1993
Reported in: 1994(4)BomCR538; (1994)96BOMLR277
S.M. Jhunjhunuwala, J.1. Both these appeals are directed against the common judgment and order dated 20th/23rd April, 1992 of the Learned Single Judge in Arbitration Petition No. 210 of 1989 by which the petition has been dismissed with costs and consequently, on the application of the learned Counsel for the respondents, judgment and decree in terms of the Award dated 24th June, 1989 has been passed with interest on the amount awarded by the arbitrators at the rate of 15% per annum from the date of the Award till payment.2. On 14th July, 1981, the appellants had entered into a contract with one Paul Lindenau GmBH & Co., a company incorporated in the Federal Republic of West Germany (for short, referred as 'Lindenau') (which contract has been described as 'Building Contract Part I') for acquisition of a Drillship to be built by Lindenau for the consideration and upon the Terms and Conditions set out therein. The purchase price of the Drillship to be delivered at Kiel in West Germany wa...
Commissioner of Income-tax Vs. Myul Chemicals Pvt. Ltd.
Court: Mumbai
Decided on: Nov-11-1993
Reported in: [1994]206ITR399(Bom)
DR. B.P. Saraf, J.1. By this reference under section 256(1) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal has referred the following question of law to this court for its opinion : 'Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee is entitled to challenge the computation of deficiency under section 80J for the earlier years of set-off ?' 2. The assessee is a private limited company and the assessment year is 1977-78. In the assessment for the immediately preceding assessment year, i.e., 1976-77, the Income-tax Officer had computed the deficiency under section 80J at a particular figure against which the assessee did not file any appeal. In the course of assessment proceedings for the year 1977-78, the assessee sought set-off of the deficiency for the assessment year 1976-77, not on the basis of the figure determined by the Income-tax Officer in the assessment for the assessment year 1976-77, but on s...
Nanded City Development Committee, through It's convener Vs. State of ...
Court: Mumbai
Decided on: Nov-11-1993
Reported in: 1994(2)BomCR7
V.V. Kamat, J.1. Letter-petition and the public interest litigation are gifts and innovations of the Indian Writ Courts as regards the law of Writs. The Concept of Social Welfare State naturally introduced spiral activities of the Governments. Legal rights are situations of assertions in a legal system which provide an eager maintenance of conditions under which an individual can develop the best in himself. The spiral rise necessitate many aspects of State action either in connection with an individual or in connection with a class. Naturally it became more than difficult to assure a sense of aliveness in this connection. Many aspects of activities emerged because the law is an instrument of Social Engineering which has to be alive for the felt necessities of time. These aspects increased the responsibility of the Writ Courts which no longer could afford to be strangers to the situation. The function of the Writ Court naturally got concerned with the conditions of Jail, with under-tri...
Ceat Tyres of India Ltd. Vs. Union of India (Uoi)
Court: Mumbai
Decided on: Nov-11-1993
Reported in: 1994(69)ELT206(Bom)
S.H. Kapadia, J.1. The facts mentioned hereinafter indicate a sorry state of affairs in matters in which huge stakes are involved and the revenue is lost on account of sheer negligence on the part of the Government in not taking steps to explain the delay of 20 days for more than three years. Even objections raised by the Office of this Court have not been removed for unduly long period despite the fact that Government was directed as far back as 26-2-1990 by the Supreme Court to explain the delay. In the process, it is the revenue which has suffered. The facts indicative of the callousness are as follows :(a) On 16th June 1976, the Central Government issued a Notification No. 198 of 1976 under Central Excises and Salt Act, 1944, giving substantial relief to various products including tyres and tubes. The Notification was to remain in force till 31st March 1979.(b) By Notification No. 141 of 1978 issued by the Central Government on 14th July 1978, the product in question, viz. tyres an...
Banco Products Vs. Collector of Customs
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: Nov-09-1993
Reported in: (1994)(74)ELT933Tri(Mum.)bai
1. The Misc. Applications have been moved by the importers for implementing the final order of this Bench No. 1533/37/93/WRB, dated 30-8-1993. In the aforesaid order this Bench allowed reshipment of the consignments declared to be brass scrap but on examination were found to be containing serviceable used brass sheets and nails. This Bench, while passing the aforesaid order took note of the undisputed factual position as below: 2. Both the importers are actual users, who have placed orders only for import of brass scrap, which is required for manufacture of export goods and these consignments have been imported against DEEC licences held by them. We also took note of the factual position recorded in the order that it is for the first time the consignments contained the serviceable material and these importers have not come to any adverse notice previously. It is also observed from the order that there is no evidence to show that the importers have deliberately imported the serviceable...
Kumari Vimal Ramchandra Meshram and anr. Vs. S.D. Date and ors.
Court: Mumbai
Decided on: Nov-09-1993
Reported in: 1994(3)BomCR368
B.U. Wahane, J. 1. Both these contempt petitions are decided by the common Judgment as the question involved in both of them is one and the same.2. Rule for contempt was issued by my learned brother Shri Justice Deshpande calling upon the respondents to show cause why they should not be dealt with for Contempt of Court for having violated the orders passed by the learned School Tribunal on 14.11.1991 in Appeal No. 86/1992-A (In Contempt Petition No. 180/92 filed by Purushottam Pawar) and another order passed by the School Tribunal on 17.8.92 in Appeal No. 136/1992-A (in respect of Ku. Vimal Meshram the petitioner in Contempt Petition No. 179/92), staying the operation and execution of orders of terminations issued by the respondents 1 and 2- the contemners. 3. The facts leading to the Rule are, in brief, as follows:The petitioner Ku. Vimal Meshram (the petitioner in Contempt Petition No. 179/92) was appointed as a Asst. Teacher since the beginning of the Academic Sessions of 1990-91 i....
Mahmoodali Umravali Sayed Vs. Collector of Customs (P)
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: Nov-08-1993
Reported in: (1994)(69)ELT552Tri(Mum.)bai
1. This appeal is directed against the Order-in-Original No. S/10-5/92 Prev. dated 24-2-1992 of the Additional Collector of Customs, Bombay, ordering absolute confiscation of the entire consignment claimed by the appellant as his unaccompanied baggage, vide Section lll(d) of the Customs Act, and also imposing personal penalty of Rs. 10,000/- on the appellant vide Section 112 of the Act.2. Stating that he had returned to India on 18-11-1991, on permanent basis, the appellant filed Unaccompanied Baggage Declaration on 6-1-1992 and also claimed the benefit under the Transfer of Residence Rules. The bona fide of the claim was however doubted and hence the appellant was initially interrogated vide Section 107 of the Act on 9-1-1992, when, he, though gave details about the items, reportedly failed to furnish the details about make, model number, colour and some other description of some of the items said to have come as unaccompanied baggage. On examination of goods, it appeared that though...
Shanudeep Ltd. Vs. Deputy Commissioner of Gift-tax
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: Nov-08-1993
Reported in: (1994)49ITD69(Mum.)
1. This appeal by the assessee is directed against the order of Commissioner of Gift-tax (Appeals)-XVII, Bombay, and pertains to the assessment year 1989-90.2. The assessee is a private limited company. The Chairman of the assessee-company is Shri R.N. Mafatlal. The assessee is in construction business. It had constructed flats in Altamount property. This construction work was completed in the year 1983. The occupation certificate for the first eight floors was received on 15-12-1983.Thereafter, the flats were sold to various parties. Three flats numbering 701, 801 and 702 were left vacant. These flats were sold during the relevant year of assessment. Flat No. 702 was occupied by the assessee. Flat Nos.701 and 801 were let out on tenancy basis in the year 1985 at a monthly rent of Rs. 5,000 each to M/s. Anudeep Chemicals and SAP Chemicals. These are associated concerns of the assessee-company. All the shares in the two companies are held by Mrs.Shaileja C. Parikh and Miss Anuradha R. ...
Central Bank of India Vs. Radhakishan Jagdishprasad and Others
Court: Mumbai
Decided on: Nov-08-1993
Reported in: 1994(4)BomCR623; (1994)96BOMLR405; [1995]82CompCas661(Bom)
M.S. Rane, J.1. Both the chamber summons are being disposed of with common judgment as the same arise out of execution proceedings by way of warrant of attachment levied under the same application and under the same decree. Further, the applicant in the Chamber Summons No. 843 of 1991 is the son and applicant in Chamber Summons No. 844 of 1991 is his father who is defendant No. 6 in the suit against whom decree has already been passed. 2. To appreciate the merits of both these applications, a brief appraisal of the facts would be necessary. 3. The plaintiff herein is a bank and they have filed a suit against the defendants for recovery of a certain amount. As far as defendants Nos. 1 to 5 were concerned the claim related to the credit facilities granted to them and defendant No. 6 who has taken out a second application was the carrier of certain goods entrusted to him for delivery to the particular party to whom the sixth defendant was to deliver goods on payment. However, defendant No...
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