Court : Kolkata
..... by any of the measures referred to in sub-section (4) of section 13 taken by the secured creditor may make an application before the debts recovery tribunal (for short drt) upon payment of the prescribed fees and, within the prescribed time limit. mr.banerjee accordingly points out that even the petitioners fall within the ..... of security interest, admittedly by the predecessors in the property of the present petitioners cannot be treated to be an exception disqualifying the application of the 2002 act under section 31(e) thereof. mr.banerjee therefore submits that the enforcement of the security interest of the bank qua the said premises is required to follow ..... in the process of taking steps under section 13 of the securitisation and reconstruction of financial assets and enforcement of security interest, 2002 (for short the 2002 act).mr.mitra submits that the respondents/sbi has no legal claim against the petitioners qua the said premises since, admittedly, there is no privity of contract .....
Tag this Judgment!Court : Kolkata
..... fresh enquiry as regards source of funds in layers through which share capital at premium was infused. the assessee failed in their appeal before the income tax appellate tribunal. we have already examined legality of an order of such nature in our judgment delivered in success tours and travels private limited & anr. versus income tax officer ..... and consequential tax liability was recomputed on the basis of disclosure of rs.24,000/- as miscellaneous income. the order under section 263 of the income tax act was passed by the commissioner primarily addressing the question of infusion of share capital at high premium. in his order, the commissioner had directed, in substance, ..... year was not accounted for inadvertently. in such circumstances, there was re- assessment upon service of notice under section 148 and section 143(2) of the act. in the order of reassessment dated 31st december, 2011, there is reference to raising of share capital at premium but that issue was not addressed to in .....
Tag this Judgment!Court : Kolkata
..... to raise such plea. if a party chooses not to raise the objection under section 16(2) of the act before the arbitral tribunal then there will be deemed waiver of such objection under section 4 of the act. the conduct of the petitioners warrants an inference of the relinquishment of a known right. if the right to ..... dispute. enough opportunities were given to the petitioners to appear before the arbitrator. the plea of fraud has to be raised before the tribunal. even in a proceeding under section 8 or 11 of the act if such plea is not raised, it has to be assumed that the party has not objected to the jurisdiction of the ..... or illiterate person. the petitioner no.1 is a juristic entity. the arbitration and conciliation act is a complete code. decide its jurisdiction. the act empowers an arbitrator to nothing prevented the petitioner to object to the jurisdiction of the arbitral tribunal before the commencement of the arbitration proceeding or during the pendency of the said proceeding. the .....
Tag this Judgment!Court : Kolkata
..... when the show cause notice suffers from an incurable infirmity. (iv) when the show cause notice is contrary to judicial decisions or decisions of the tribunal. (v) when there is no material justifying the issuance of the show cause notice. in this connection, the petitioner relied on a decision of ..... .-subhas sindhi cooperative housing society, jaipur, (2013) 5 scc427wherein at paragraph 27 of the judgment it was held that executive instruments which have no statutory force, cannot override the law. hence, any notice, circular, guidelines etc.which run contrary to statutory laws cannot be enforced. (e) although, the high ..... and sight-testing instruments. cth9018931 specifically pertains to renal dialysis equipment (artificial kidneys, kidney machines and dialysers).(28) chapter 84 of the customs tariff act has the caption nuclear reactors.boilers.machinery and medical appliances; parts thereof. heading 8421 under chapter 84 pertains to centrifuges, including centrifugal dryers.filtering or .....
Tag this Judgment!Court : Kolkata
..... bench to decide as to whether intra court appeal under clause 15 of the letters patent could be included within the meaning of section 34 of the armed forces tribunal act, 2007 for being transferred to the tribunal. . in the light of above reference, this came up for consideration before the larger bench. we have heard learned counsel, sri pradip tarafdar for the appellant and ..... bench, division bench opined, since union of india had set up a tribunal to deal with disputes including service matters pertaining to armed forces personnel, in the light of section 34 of the armed forces tribunal act of 2007 (for short hereinafter referred to as aft act of 2007), whether the matter needs to be transferred to armed force tribunal or could be decided by this court. in this regard, the .....
Tag this Judgment!Court : Kolkata
..... section 22. the apex court held, the suit contemplated under section 22 would apply only to proceeding in civil court and not any proceeding before any tribunal including debt recovery tribunal.10. zenith infotech limited vs. union of india: the division bench of the delhi high court relied on rishabh agro (supra) and foremost industries ( ..... be read in the context of the factual scenario involved therein. in rishabh agro, on the date of reference the order of winding up was not in force that would clearly be apparent from paragraph 1 and 2 where facts were briefly stated. the decisions in the case of smith stanistreet (supra) being a ..... court, they were trying to initiate proceedings before board for industrial and financial reconstruction (herein after referred to as bifr .) established under the sick industrial companies act, 1985 (hereinafter referred to as sica). the official liquidator took charge of the assets and proceeded to sell the same by public auction. the learned company judge .....
Tag this Judgment!Court : Kolkata
..... purpose which it sets out to achieve or a particular remedy that it seeks to provide. the overwhelming consideration of section 11 of the 1996 act is to ensure that an arbitral tribunal is put in place, by removing the roadblocks that may have been placed, unwittingly or by design, by the various stakeholders.if such is ..... 13, 14 and 15 carry an unmistakable flavour of the provisions thereunder coming into play after the appointment or constitution of the arbitral tribunal has effectively taken place. sections 12 and 13 of the act provide for the grounds and procedure for challenging the appointment of an arbitrator and pre-suppose the concerned arbitrator taking up and pursuing ..... to concur in a suggested appointment. but it does not appear, on a reading of section 11(5) of the 1996 act, that when there is an agreed procedure for appointment of the arbitral tribunal, a party to the arbitration agreement is called upon to approach the other party upon the agreed procedure failing. it is simply .....
Tag this Judgment!Court : Kolkata
..... that case contained an overriding clause that read: notwithstanding anything to the contrary in this agreement, the shareholders shall at all times act in accordance with the companies act and other applicable acts/rules being in force, in india at any time. the award-debtor, the american party to the joint venture agreement, lodged a suit before a ..... to use the courts process to compel the production of documents and oral evidence from third parties. such application was also dismissed by the arbitral tribunal. the arbitral tribunal thereafter made an award dealing with the costs of the hearing of the jurisdictional challenge, the advance on costs and the defendants disclosure application ..... justice to discover some obscure principle to found a judgment that would be opposed to the stated policy; even if it is to shield or aid an arm of the state that is the petitioner in the present proceedings. the new york convention is based on reciprocity which demands that adopting states and the .....
Tag this Judgment!Court : Armed forces Tribunal AFT Regional Bench Kolkata
sadhankumar gupta, member (judicial) initially, the writ petition was filed before the honble high court at calcutta. thereafter, due to the advent of the armed forces tribunal act, 2007, the said writ petition was transferred to this bench by the order of the ld. single judge of the high court and it was re-numbered as ta 77 ..... pension, opinion of the medical board should normally be final and must be accepted provided, of course, there is clear evidence to the effect that the medical board did not act properly. so far as the applicant is concerned, it appears that he was placed before the medical board and such board gave its opinion, which is in the record. it .....
Tag this Judgment!Court : Armed forces Tribunal AFT Regional Bench Kolkata
sadhankumar gupta, member (judicial) 1. initially, the writ petition was filed before the honble orissa high court by the applicant. it was subsequently transferred to this tribunal, as per provisions of the armed forces tribunal act, 2007 and re-numbered as ta 194 of 2010. 2. the case of the applicant is that he entered into the military service on 7.3.87 and was discharging ..... not allowed to cross-examine the witnesses, nor was he afforded any opportunity to produce evidence on his side. on the contrary, the applicant has claimed that he was compelled/forced to sign some papers, which were converted to be the statement of defence of the applicant and on the basis of that, the finding of guilt was passed by the .....
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