Judgment Search Results Home > Cases Phrase: companies act 1956 section 424k misfeasance proceedings Page 1 of about 14,706 results (0.276 seconds)

P.A. Tendolkar and ors. Vs. Official Liquidator and ors.

Court : Karnataka

Reported in : AIR1964Kant75; AIR1964Mys75

..... decide any dispute and therefore is not a judgment. the appeal purports to be one brought under section 202 of the act read with section 483 of the companies act, 1956, section 45-n of the banking companies act, 1949 and section 4 of the mysore high court act, 1961. section 483 of the companies act, 1956, corresponds to section 202 of the article it is not disputed that the matter is governed by the indian ..... companies act, 1913 since the winding up was commenced before the commencement of the companies act of 1956. section 45-n of the banking companies act, 1949 .....

Official Liquidator, Aryodaya Ginning and Manufacturing Mills Ltd. Vs. ...

Court : Gujarat

Reported in : [2003]114CompCas654(Guj); (2003)4GLR276

..... case, it is necessary to make a brief reference to the principles enunciated by the apex court in the matter of misfeasance proceedings. section 235 of the companies act (old act) contained provisions analogous to section 543 of the companies act, 1956. in p.k. nedungadi v. malayalee bank ltd. (in liquidation), air 1971 sc 829 ; [1972] 42 comp cas 120, ..... 1986-87 and annual returns within the statutory limits and therefore the penalties, etc., which may be levied by the registrar of companies, courts, etc., within the purview of section 543 of the companies act, 1956. (ii) from the scrutiny of accounts for the years 1984-85 to 1986-87 it appears that the management had shown suppressed ..... sustained loss as a direct consequence. therefore, the directors were not liable for any misfeasance or misappropriation or breach of trust under section 543 of the companies act, 1956.'20. it is thus clear that merely charging less interest or writing off certain sums due from the employees or to advance sum .....

Union of India (Uoi) Through the Secretary, Ministry of Finance Vs. P. ...

Court : Allahabad

Reported in : I(2008)BC608

..... -union of india and shri arun kumar for respondent- p.k. pandey son of shri manager pandey.2. the proceedings have been initiated under section 45(11)(2) of the banking regulation act, 1949 read with section 543 of companies act, 1956 for recovery of rs. 167.81 lakhs along with interest from the respondent-p.k. pandey, the ex-director of the kashinath seth bank ..... the losses, which were the cause of collapse of the bank.16. the object of proceeding under section 543 of the companies act, 1956 is to assess damages against delinquent directors. under section 543(i)(b) the court can compel then director, manager, liquidator or officer of the company, to repay or restore the money or the property or any part thereof respectively with interest at .....

A. Stock and Co. (In Liquidation) and Official Liquidator Vs. Dilip Ku ...

Court : Kolkata

Reported in : AIR1994Cal1,[1996]87CompCas139(Cal)

..... by the respondents.'and for other reliefs.2. it was contended by the learned advocate appearing for the official liquidator that the respondents in an application under section 543(1) of the companies act, 1956 have no right to file affidavit-in-op-position but may contest the proceedings by filing their points of defence only after the points of claim had been filed ..... appearing for the official liquidator that the official liquidator is empowered under section 543 of the companies act, 1956 to take appropriate steps against the delinquent director for the acts of misfeasance and/or breach of trust and for beneficial winding op of the company as also for causing investigation into the affairs of the company to find out the reasons of such winding up as also .....

British India Steels Ltd. and anr. Vs. Prof. Suresh Chandra Kuchhal an ...

Court : Kolkata

..... debts payable to banks and financial institutions and there can be no interference by the company court under section 442 read with section 537 or under section 446 of the companies act, 1956. in respect of the monies realised under the rdb act, the question of priorities among the banks and financial institutions and other creditors can ..... by the tribunal under the rdb act and in accordance with section 19 (19) read with section 529-a of the companies act, and in no other manner. the provisions of the rdb act, 1993 are to the above extent inconsistent with the provisions of the companies act, 1956 and the latter act has to yield to the provisions ..... -liquidation, proceedings regarding which were also pending before the debts recovery tribunal. the distribution had to be made under section 529a of the companies act, 1956, while the debts recovery tribunal and the company court were empowered to sell the assets in their respective jurisdiction. but, the court said that there should be .....

P.A. Tendolkar Vs. Official Liquidator and ors.

Court : Karnataka

Reported in : [1967]37CompCas511(Kar)

..... and the relevant statutory provisions. 54. section 235 of the indian companies act, 1913, provides for misfeasance proceedings against directors and officers of a company. the corresponding provision in the new act, namely, the companies act, 1956,is section 543. 55. though the indian companies act, 1913, is repealed by section 644 of the companies act, 1956, section 647 of the new act provides that, where the winding up of a company has commenced before the commencement of ..... the new act, the provisions of the new act with respect to winding up, except section 555(7) shall not .....

Dewrance Macneill and Co. Ltd. (In Liquidation) Vs. Padam Kumar Khaita ...

Court : Kolkata

Reported in : [2010]97SCL236(Cal)

..... 2004 and other consequential reliefs.2. ca no. 604 of 2004 is an application taken out by the official liquidator of this court under section 543 of the companies act, 1956 ('the act') by the judge's summons dated 1-10-2004. he took out the application initiating misfeasance proceedings against all the seven respondents named in ..... the judge's summons as the erstwhile directors of dewrance macneill & co. ltd., the company-in-liquidation. the winding up proceedings in which the ..... 6, that makes the provisions of the code, so far as applicable, applicable to all proceedings initiated under the provisions of the act and the companies (court) rules. his argument is that section 543 proceedings which are always decided by holding a trial on evidence are definitely demurrable, based on the provisions of order 7, .....

Alak Prokash JaIn Vs. Union of India (Uoi) and ors.

Court : Kolkata

Reported in : [1973]43CompCas68(Cal)

..... to appreciate the rival contentions of the parties it is necessary to refer to the relevant provisions in act no. 17 of 1967. section 2 provides that on the commencement of the act the companies tribunal constituted under section 10a of the companies act, 1956, shall stand abolished. sub-section (3) of section 3 runs as follows : ' (3) save as otherwise provided in sub-rsection (1) and sub-rsection (2 ..... appellant that the central government having delegated its powers to the board of company law administration (hereinafter referred to as ' the board '), could not make the reference under section 388b of the act. the board was created under section 10e of the act, which was introduced in the companies act, 1956, by the companies amendment act of 1963. section 10e provides that the board is to exercise and discharge such powers .....

Jaipur Vastra Vyopar Sangh Ltd. (In Liquidation) and anr. Vs. Shyam Su ...

Court : Rajasthan

Reported in : AIR1970Raj91; 1969()WLN223

..... the argument that because the jaipur companies act of 1942 and indian companies act of 1913 were repealed on the coming into force of the-indian companies act, 1956, the applicant lost any right he had to make an application under section 235 of the repealed acts or section 543 of the companies act, 1956. the learned counsel made repeated reference to section 6 of the general clauses act to support his argument. it is ..... restoration under order 9, rule 9, c. p. c., but it was dismissed for default of appearance on january 16, 1959, the question is whether the present application under section 543 of the companies act, 1956, is maintainable in these circumstances in spite of the provisions of order 9, rule 9, c. p. c.?19. it is quite apparent that, on the admitted facts .....

Official Liquidator, Nagpur Glass Works Ltd. Vs. (In Liquidation) V.D. ...

Court : Mumbai

Reported in : (1971)73BOMLR333; [1971]41CompCas524(Bom); 1970MhLJ686

..... jurisdiction. in the case of kumarpuram sheshadri doraswamy v. pestonjee jamasjee padshah it was held in respect of section 214 of the indian companies act, 1882, which corresponded to section 235 of the indian companies act, 1913, and now corresponds to section 543 of the companies act, 1956, that section 214 of the indian companies act, 1882, gave no new rights but simply provided a summary mode of enforcing rights which must otherwise ..... grounds for revocation. in my opinion, such an order would also be for a collateral purpose. lord justice bowen had described the power under section 115 of the english companies act, 1862, which corresponds to section 477 of the companies act, 1956, as inquisitorial power in in re north australian territory co., the use of such inquisitorial power to find materials for the misfeasance summons if the .....