Judgment Search Results Home > Cases Phrase: companies act 1956 chapter 2 directors Page 1 of about 51,492 results (0.117 seconds)

i.T.i. Ltd., Naini Officers Association and anr. Vs. Union of India (U ...

Court : Allahabad

Reported in : 2002(4)AWC3162; (2003)ILLJ1130All; (2002)3UPLBEC2324

..... chapter ii of the indian companies act, 1956, deals with directors and constitution of board of directors. ..... section 291 of the companies act, 1956, gives the general power of the board of a company, and it lays down that subject to the provisions of the act, the board of directors of a company shall be entitled to exercise all such powers and to do all such acts and things as the company is authorised to exercise and do. ..... the companies act makes elaborate provision regarding appointment and retirement of directors and their powers and the manner of exercise of power. ..... of heavy industries and public enterprises, it was clearly provided that the proposal for roll back of age of superannuation from 60 years to 58 years covered by the office memorandum dated 9.5.2000, which is duly approved by the board of directors of the company and also the minister-in-charge of the administrative ministry, need not be brought before the cabinet. ..... section 292 of the aforesaid act enumerates the powers which the board of directors of a company shall exercise on behalf of the company with the rider that they will do so only by means of a resolution passed at meetings of the board. ..... section 252(3) of this act provides that the directors of a company collectively are referred to as the 'board of directors'. .....

Rakesh Malhotra and Others Vs. Rajinder Kumar Malhotra and Others

Court : Mumbai

..... meeting of trans-auto to consider the agenda item for removal for removal of the existing directors and for appointment of new directors; (b) orders directing sipl, unique and rcc (transautos subsidiaries) to similarly call extraordinary general meetings to remove their respective existing directors and to appoint rkms nominees as new directors; (c) orders and directions under sections 397, 398 and 402 of the companies act, 1956 to end acts of mismanagement; (d) orders of disclosure of payments made by trans-auto to third parties, encumbrances ..... . it is one thing to say that disputes validly covered by chapter vi of the companies act, 1956 and, specifically, section 402, cannot be referred to arbitration because they are, by their very nature, and having regard to the source of power, not arbitrable ..... ? there is nothing in chapter vi of the companies act, 1956 that permits the clb to delegate this dispute-resolution judicial function in this manner ..... . it is whether that dispute falls within chapter vi of the companies act, 1956 ..... . it must therefore follow that where a petition under chapter vi of the companies act, 1956 seeks reliefs some of which are in the nature of reliefs in rem and others that are in personam, then it is not possible or permissible to sever one from the other and disassemble such a petition. mr .....

Khetan Industries Pvt. Ltd. and Others Vs. Manju Ravindraprasad Khetan

Court : Mumbai

Reported in : AIR1995Bom43; 1994(4)BomCR370; (1994)96BOMLR53

..... (1) which is the principal civil court for bombay for the purpose of proceedings for removal of the trustees under chapter 7 of the indian trusts act, 1882 and whether a civil suit lies for removal of directors of a private limited company incorporated under the companies act, 1956.2. ..... it was also contended that in view of the provisions of the companies act, 1956, which deals with the entire gamut of appointment, functioning and removal of directors and more particularly the provisions c of s. ..... from a careful perusal of the scheme of the companies act, particularly chapter ii of part vi thereof, it is clear that the appointment of directors, their working, their removal etc. ..... so far as the second contention is concerned, the submission of the counsel is that the appointment and removal of the directors is specifically governed by the provisions of the companies act and that being so, the specificremedy provided under that act has to be availed of by a person seeking relief on that score and no suit can lie to the civil court in that regard. ..... halliwell (1950) 2 all er 1064 moreover, the right to appoint and/or remove the directors of a company being a creature of the companies act which itself provides a machinery for the enforcement of the said right, the civil court's jurisdiction is impliedly barred.9. .....

S.M.S. Pharmaceuticals Ltd. Vs. Neeta Bhalla and anr.

Court : Supreme Court of India

Reported in : AIR2005SC3512; 2005(2)ALD(Cri)595; 2005(5)ALLMR(SC)1118; IV(2005)BC425(SC); 2005(3)BLJR2108; [2005]127CompCas563(SC); (2005)6CompLJ144(SC); 2005CriLJ4140; 2005(5)CTC65; 123

..... 'director' is defined in section 2 of the companies act 1956 as under:' 'director' includes any person occupying the position of director, by whatever name called' ;there is a whole chapter in the companies act on directors, which is chapter ..... , the andhra pradesh high court noted that there was a consensus of judicial opinion that ' a director of a company cannot be prosecuted for an offence under section 138 of the act in the absence of a specific allegation in the complaint that he was in charge of and responsible to the company in the conduct of its business at the relevant time or that the offence was committed with his consent ..... [2] notwithstanding anything contained in sub-section (1), where any offence under this act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to, any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also he deemed to be guilty of that offence and shall be liable to be proceeded against and ..... held that 'the purpose of section 141 of the negotiable instruments act would appear to be that a person who appears to be merely a director of the company cannot be fastened with criminal liability for an offence under section 138 of the negotiable instruments act unless it is shown that he was involved in the day-today affairs of the company and was responsible to the company. .....

Parthasarathy and K. Chockalingam Vs. Lachman

Court : Chennai

Reported in : [2007]137CompCas780(Mad)

..... the word 'director' is defined in section 2(13) of the companies act, 1956 as under:2. ..... filed by the petitioners herein.2.the brief facts of the case are as follows:the respondents filed a private complaint against the petitioner and eight others for the offence under section 138 of negotiable instruments act on the ground that when the cheques issued by a2, the managing director of the company were presented, they got bounced and therefore, the company as well as the directors are liable for punishment under section 138 of negotiable instruments ..... case, as noted above, the document form 32 would reveal that the second petitioner was not the director who was in-charge of and responsible for the affairs of the company during the relevant period and as such, the proceedings as against the second petitioner are liable to be quashed and accordingly quashed.law is well settled that persons who were not directors of the company or who were not in charge of the day to day affairs of the ..... therefore, it is clear that these petitioners were not the directors of the company either at the time of borrowal of the money or at the time of issuing of the cheques by a2.7. ..... what emerges from this is that the role of a director in a company is a question of fact depending on the peculiar facts in each case. ..... there is a whole chapter in the companies act on directors, which is chapter ii. .....

Commissioner of Income-tax Vs. Smt. Shanti Devi and ors.

Court : Orissa

Reported in : (1992)104CTR(Ori)111; [1993]199ITR800(Orissa)

..... 'salaries' ( chapter iv-- sub-head 'a') is only entitled to general deductions as is envisaged under section 16(i) of the act, he made a reference to the companies act, 1956, to explain the situation of a managing director or a director who, as such, enjoys dual capacity as a director and also as an employee of the company. ..... is extracted hereunder : ' if any director is called upon to perform services or to make any special exertion for any of the purposes of the company, the company shall remunerate such director either by a fixed sum or otherwise, as will be determined by the board of directors and such remuneration may be either in addition to or in substitution of his remuneration for attending meetings subject to the provisions of section 315 of the companies act, 1956, and in addition to the provision made ..... company registered under the companies act, 1956 ..... to the extent that it throws light on a situation of supervisory control and in respect of some sort of powers being exercised on the director by the company ; the matter ended there and that was not enough to make outthe relationship of employer and employee. 12. ..... (1) of the income-tax act, 1961, for our decision is : ' whether, on the facts and in the circumstances of the case, the relationship between the assessees and the company in which he/she acted as a director can be said to be that of an employee and employer so that the assessees would be entitled to deduction under section 16(i) of the income-tax act, 1961?' 2. .....

Prabhakaran and ors. Vs. T.P.S.H. Selva Saroja and ors.

Court : Chennai

Reported in : [1978]48CompCas503(Mad)

..... it was submitted that the provisions of chapter vi of the companies act, 1956, gave ample powers to pass appropriate orders restraining the department from seeking to recover the tax liabilities from the applicant ..... to this petition, the applicant's mother and the managing director of the company has filed a counter-affidavit. ..... on september 26, 1973, the managing director of the company in which the applicant is a shareholder wrote to him claiming a sum of rs ..... and for the protection of the interest of the applicant by removing the managing director and placing the management of the company in the hands of an administrator. ..... according to the applicant he had been kept away from the management of the affairs of the company and his mother, the managing director, had manipulated the account showing large sums as being due from him to the company. ..... applicant is a shareholder of the said company and the managing director is his mother.2. ..... the hearing of the application, the learned counsel for the applicant submitted that the present application arose as a result of mismanagement of the affairs of the company, and that the tax dues were mainly the result of certain transactions which went only to the benefit of the managing director. ..... it is alleged that the managing director has secreted the funds of the company and is in possession and enjoyment of the movable properties and that the applicant could not be held liable until the properties and assets in her possession were proceeded against .....

T. P. Sokkalal Ram Sait Factory (P.) Ltd., in Re Prabhakaran and Other ...

Court : Chennai

Reported in : [1978]113ITR625(Mad)

..... it was submitted that the provisions of chapter vi of the companies act, 1956, gave ample powers to pass appropriates orders restraining the department from seeking to recover the tax liabilities from the ..... recovery officer, tirunelveli, sent a notice of demand and a copy of a certificate issued under section 226(3) of the income-tax act, 1961.according to the applicant he had been kept away from the management of the affairs of the company and his mother, the managing director, had manipulated the account showing large sums as being due from him to the company. ..... the applicant is a shares holder of the said company and the managing director to his mother.on january 24, 1974, the income-tax officer wrote a letter regarding the tax arrears in the case of ..... it is alleged that the managing director has secreted the funds of the company and is in possession and enjoyment of the movable properties and that the applicant could not be held liable until the properties and assets in her possession were ..... on september 26, 1973, the managing director of the company in which the applicant is a shareholder wrote to him claiming a sum ..... prayer in the application is to stay all further proceedings in pursuance of the certificate issued by the income-tax officer, central circle ix, madras-600034, and to appoint an interim receiver to take charge of accounts and management of the company.to this petition, the applicants mother and the managing director of the company has filed a counter-affidavit. .....

Deputy Commissioner of Income-tax Vs. R.L. Kalathia and Co.

Court : Gujarat

..... all the assets and liabilities of the firm upon its registration as a company under chapter ix of the companies act, 1956 came to be taken over by m/s. ..... it was further contended that no capital gains had occurred when it had converted the firm into a joint stock company as in view of the provisions of chapter iv of the companies act, the act of declaring a firm as a company did not amount to transfer. ..... the commissioner (appeals) noted that the assessee had contended that as per the provisions of chapter ix of the companies act, the act of declaring a firm as a company does not amount to transfer and observed that the taxation of capital gains is governed by the provisions of the income-tax act. ..... the assessee replied that under chapter ix of the companies act, the firm has been registered as m/s. ..... it may be noted that in the facts of the said case, while all the assets and liabilities of the firm came to be transferred to the company as a going-concern, it was not a case where the firm came to be converted into a company under chapter ix of the companies act. 18. ..... therefore, viewed from any angle, it is difficult to accept the contention of the revenue that capital gains accrued to the assessee on its conversion into a joint stock company under chapter ix of the companies act. 19. ..... and the shares to the extent of revaluation had been allotted to the partners in the firm or the directors of the limited company. .....

inder Sen Roy Vs. State of Maharashtra

Court : Mumbai

Reported in : (1975)ILLJ359Bom

..... it is true that under the companies act, 1956, it is now obligatory on the private companies to appoint directors, and it may be now enough to prosecute and punish directors in case of private companies and not make share-holders liable for such prosecutions. ..... of the shareholders thereof, may be prosecuted and punished under this chapter for any offence for which the occupier of the factory is punishable : provided that the company may give notice to the inspector that it has nominated a director or in the case of a private company, a share-holder, who is resident in either case within india, to be the occupier of the factory, for the purpose of this chapter, and such director or share-holder, as the case may be, shall, so long as he is so resident, be deemed ..... factory is punishable : provided that the firm or association may give notice to the inspector that it has nominated one of its members, residing within india to be the occupier of the factory for the purposes of this chapter, and such individual shall, so long as he is so resident, be deemed to be the occupier of the factory for the purposes of this chapter, until further notice cancelling his nomination is received by the inspector or until he ceases to be a partner or member of the firm or association. .....