Judgment Search Results Home > Cases Phrase: appropriation railways vote on account act 2005 Court: gujarat Page 1 of about 11 results (0.030 seconds)

In Re: Mafatlal Industries Ltd.

Court : Gujarat

Reported in : [1995]84CompCas230(Guj)

..... 209 and was quoted with approval by the supreme court of india in the case reported in 88 itr 44 as under : 'if the asset takes the form of fully paid shares, the valuation will take into account not only the terms of the agreement but a number of other factors, such as prospective yield, marketability, the general outlook for the type of business of the company which has allotted the shares, the ..... the transfer to the transferee company of the whole or any part of the undertaking, property or liabilities of any transferor company; (ii) the allotment or appropriation by the transferee company of any shares, debentures, policies, or other like interests in that company which, under the compromise or arrangement, are to be allotted or appropriated by that company to or for any person; (iii) the continuation by or against the transferee company of any legal proceedings pending or against any ..... which may arise in matters of this nature where two different high courts are moved for appropriate orders under section 391 and section 394 of the said act for sanction and approval to the scheme of amalgamation, with or without modification, is very ..... the court would, of course, take into account the fact that it has been approved by a big majority vote, but it would not shirk its duty to scrutinise the scheme, especially when it involves amalgamation of large companies in ..... pacific junction railway co ..... junction railway co. ..... junction railway co. ..... orleans texas and pacific junction railway co. .....

Gas Authority of India Ltd. Vs. the State of Gujarat and ors.

Court : Sales Tax Tribunal STT Gujarat

..... t(sic) that authority, so above discussed law and submission of both(sic) sides reveals that by notification issued by the government of india dated 17/03/2005, no central sales tax appellate authority is constituted as provided under section 19 of the central sales tax act but by that notification authority for advance ruling was empower to settled issue arising out of section 6a and section 9 of the central sales tax ..... natural justice are stated to have been violated it is open to the appellate authority in appropriate cases to set aside the order and require the assessing officer to decide the case de ..... (1) where the commissioner has reason to believe that the dealer has evaded the tax, he may, after taking into account all relevant materials gathered by him and after giving the dealer a reasonable opportunity of being heard, provisionally assess to the best of ..... so above discussed fact and legal position will shows that goods is not move on account of agreement entered into by the appellant with the customer.so above discuss fact and legal position clearly and categorically shows that example 2nd will apply ..... from the consumer prices collected and the same shall be credited to the gas pool account to continue to compensate oil for concessional gas price in the north east to continue providing a marketing margin to gail to compensate gail/oil for increases in the operating cost on account of inflation and for utilisation on r & d for exploration and exploitation of small fields .....

Oil and Natural Gas Corp. Ltd. Vs. Talukapanchayat and anr.

Court : Gujarat

Reported in : (2006)2GLR987

..... 4.4 section 4 provides that the proceeds of the education cess and penalties (other than fines) recovered under this act, shall first be credited to the consolidated fund of the state and after deduction of the expenses of collection and recovery therefrom shall, under appropriation duly made by law in this behalf, be entered in, and transferred to, a separate fund called the state education cess fund.4.5 section 5 provides levy of surcharge on agricultural lands and section 7 provides surcharge ..... to pay land revenue.2.15a he has also relied on section 48 of the code which also reads as under:section 48 ' manner of assessment and alteration of assessment - (1) the land revenue leviable on any land under the provisions of this act shall be assessed, or shall be deemed to have been assessed, as the case may be, with reference to the use of the land -(a) for the purpose of agriculture;(b) for the purpose of residence;[c] for the purpose of industry;d. ..... section 191 of the act reads as follows:s191 levy of fifty paise cess on every rupee of land revenue (1) the state government shall levy, on the conditions and in the manner hereinafter described, a cess at the rate of fifty paise on every rupee of -[a] every sum payable to the state governmnent as ordinary land revenue except sums payable on account of any of the charges mentioned in sub-section (2) and except sums payable on account of any charge which may be notified by the .....

C.i.T.-iii Vs. the Baroda Peoples Co-op. Bank Ltd.

Court : Gujarat

Reported in : (2005)198CTR(Guj)1; [2006]280ITR282(Guj)

..... high court answered the same by stating :the reasoning which has commended itself to us for holding that the interest earned on statutory reserves under section 67(1) of the gujarat co-operative societies act cannot be said to be profits and gains of banking activity applies with much greater force to the voluntary reserves.13.3 the aforesaid reasoning relatable to statutory reserves has categorically been overruled by the ..... sections 80a to 80b)b : deduction in respect of certain payments(sections 80c to 80ggc)c : deductions in respect of certain incomes(sections 80h to 80tt)d : other deductions ( sections 80u to 80vv) section 80a(1) of the act provides that in computing total income of an assessee, there shall be allowed from gross total income, the deductions specified in sections 80c to 80u, in accordance with and subject to the provisions of this chapter viz. ..... out of working capital (including voluntary reserves) has been credited in profit and loss account and have been utilised for meeting various banking expenses debited in the profit and loss account and surplus has merged with the working capital available for carrying on the banking business ..... appropriated to the contingencies reserve, in securities authorised under the indian trusts act,1882 and income derived by way of interest therefrom was attributable to profits and gains of the business of the assessee for the purposes of section 80i of the act. ..... railway ..... if the same have not been specifically enumerated.9.8.2005.52. .....

Amreli Municipality Vs. Gujarat Pradesh Municipal Employees Union

Court : Gujarat

Reported in : (2004)3GLR1841; (2005)ILLJ592Guj

..... notice has been frivolously or vexatiously given or that it would be inexpedient so to do, make a reference under this subsection notwithstanding that any other proceedings under this act in respect of the dispute may have commenced :provided also that where the dispute in the relation to which the central government is the appropriate government, it shall be competent for the government to refer the dispute to a labour court or an industrial tribunal, as the case may be, constituted ..... upon wherein it is held that all such porters/workers who may have been initially engaged through co-operative societies and who had been continuously working in the railways for the last 10 years or more on different assignments shall be regularised and absorbed by the railways subject to being found medically fit and being below the age of superannuation (58 years).6.1.13 learned counsel also cited a decision in the case of gujarat agricultural ..... it was further directed that the petitioners would not be entitled to arrears of monetary benefits on this account of the past service, but they should be placed in the appropriate scale while issuing orders of regularisation.6.1.28 decision of the punjab and haryana high court in the case ..... municipality shall forthwith be transferred from that municipality by the state government if a resolution to that effect is passed by the municipality with not less than two-thirds of the total number of councillors of the municipality voting in favour of such resolution .....

Gujarat Lease Financing Ltd.

Court : Gujarat

Reported in : [2005]62SCL511(Guj)

..... decided that the company, bank of india and central bank of india may jointly move this court to allow the appropriation of amount lying in escrow account to the member banks equitably and the said appropriation was approved by all the members. ..... , it was recorded that based on company's application having been allowed the appropriation of the amount lying in escrow account was effected in favour of the member bankers equitably. ..... the said agent or the company, as the case may be, shall arrange to deposit the said realization in a separate escrow account, and after making provision for the expenses incurred for the said recovery, shall apportion and allocate the balance amount to the beneficiaries in the ration ..... the board of directors of the petitioner company has thought it appropriate to present a revised proposal of compromise for the consortium of banks and accordingly, the company took the decision to propose a scheme of compromise between the company and the consortium of banks on the broad ..... the dissenting members of the consortium who have cast their votes against the proposed modified scheme have chosen not to ..... this petition is filed under section 391 of the companies act, 1956 for sanction of a scheme of compromise with the consortium of 16 banks being the secured ..... sent individually to all the consortium of the bank as required by the order together with copy of scheme of compromise and the explanatory statement required under section 393 of the act and a form of proxy. .....

The State of Gujarat Vs. O.L. of Gstc Ltd. and anr.

Court : Gujarat

Reported in : [2009]152CompCas456(Guj); [2008]84SCL457(Guj)

..... court is of the view that since the state government has discharged the liability of the mills company towards secured creditors and labourers and there is still surplus fund with the official liquidator in the account of gstc and since the state government has undertaken to discharge the liabilities, if any, that may arise in future, there may not be any objection on the part of the official liquidator in handing over possession ..... entrusted to the company, and to run textile mills taken over by the central government on payment of the reserve price or on reconstruction under the provisions of the cotton textile companies (management of undertaking and liquidation or reconstruction) act, 1967 and entrusted to the gstc for management, and to lend money to textile mill or guarantee loans secured by textile mills for scheduled banks, industrial finance corporation, industrial development bank or any other financial institution ..... amount shall have to be handed over to the state government and the appropriate order in this regard will be passed after submission of accounts before the court under separate report. 48. ..... the assets of new jahangir vakil mills, bhavnagar and sarangpur cotton mills as well as silver cotton mills, ahmedabad and the said applications were decided in favour of the state government vide order dated 23.12.2005 and 17.7.2006 respectively and the possession of the immovable assets of the mills companies were handed over to the state government for public purposes. .....

Uti Bank Ltd. Vs. Shree Rama-multitech Ltd.

Court : Gujarat

Reported in : [2005]126CompCas15(Guj); [2005]58SCL328(Guj)

..... initiated by the petitioner-bank before the debt recovery tribunal under the recovery of debts due to banks and financial institutions act, 1993 prior to the filing of the winding up petition, the petition deserves to be dismissed as the petitioner had already chosen a forum of recovery, that is, before the debt recovery tribunal, it was not appropriate to exercise the summary and equitable jurisdiction available under section 433 and 434 of the companies ..... (b) it would throw out of employment numerous persons and result in gross hardship to the members of families of the employees; (c) loss of revenue to the state by way of collection of taxes which otherwise should have been collected, on account of customs, excise duties, sale tax, income tax etc. ..... public policy in regard to commercial morality has, likewise, to be taken into account before determining the winding up issue. ..... from the detailed statements, accounts and explanations submitted before the court during the course of arguments, it can hardly be said that the financial crunch sustained or suffered by the company is ..... had intended that on account of the fact that a suit or proceeding has been filed in another court, the court in seisin of the winding up application will stay that proceeding on that ground alone, there would have been a provision to that effect in the companies act. ..... ready and willing to fulfill its liability and make the payments of the amount that is lawfully due and payable as per its books of accounts. .....

O.L. of Aryodaya Spg. and Weaving Mills Co. Ltd. Vs. Charansingh Dhups ...

Court : Gujarat

Reported in : [2005]125CompCas765(Guj); [2004]56SCL133(Guj)

..... under section 446 of the act, the legislative intent to permit the high court from initiating proceedings straightway as if they were proceedings of the court of an appropriate jurisdiction is clear; that there should be no impediment in the way of the liquidator, necessitating his getting involved in unnecessary litigation as there is public accountability after a winding-up order has been passed to determine the liquidation proceedings as expeditiously as possible, and tenants of companies under winding-up cannot stretch the winding-up proceedings to suit ..... shah, learned advocate, contended that :(a) this application is not competent and not maintainable and the applicant has to institute suit in appropriate court; (b) this court has no jurisdiction to entertain this application; (c) it is clear from the decree dated 18-12-1978 passed in civil suit no. ..... therefore, the period of seven years commencing from 1983 upto 05-05-1990 would have to be excluded by operation of provision of section 458-a of the act; but as the default had taken place in 1986 the period of limitation of twelve years which would have commenced from the said date, would now commence from 05-05-1990 and would expire on 05-05-2002. .....

Core Healthcare Limited Vs. Nirma Limited

Court : Gujarat

Reported in : [2007]138CompCas204(Guj); [2007]79SCL47(Guj)

..... as its articles of association, subject to the provisions of sections 78 and 100 of the act, the petitioner-company is authorised to use its share premium account for the said purpose.2.16 accordingly, the board of directors of the petitioner-core resolved in their meeting held on 25th october, 2005 that subject to the approvals of the shareholders and lenders and subject to directions and sanctions of the appropriate courts, as may be required under the law, and/or any other regulatory authorities ..... , as may be prescribed under the act, and subject to the such permission of the ..... disadvantages with the scheme, given the relative benefits which the scheme conferred on scheme claimants compared with their position in the absence of the scheme, the fact that the meeting resulted in a unanimous and significant vote in favour of the scheme, and the care that had been taken to inform fully all former policyholders of the scheme, the scheme was approved, subject to the giving of two undertakings to cover certain possible ..... in the case of alabama, new orleans, texas and pacific junction railway co .....