Judgment Search Results Home > Cases Phrase: companies act 1956 section 424k misfeasance proceedings Court: allahabad Page 1 of about 441 results (0.126 seconds)

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 .....

Arvind Kumar Gupta Vs. Tax Recovery Officer

Court : Allahabad

Reported in : (2005)199CTR(All)36; [2005]276ITR373(All)

..... on 3rd april, 1993 when he became a director from 9th february, 1992 the respondent no. 3 had already become a public limited company under section 43a of the companies act, 1956. he further stated that he was a director for namesake only and had signed the relevant forms regarding his appointment as director on the ..... is further alleged by the petitioner that m/s. shashank polyplast limited was incorporated on 20th november, 1984 as a private limited company. it became a public limited company under section 43a of the companies act, 1956 w.e.f. 9th february, 1992. the petitioner had resigned from the directorship of respondent no. 3 vide letter dated 20th september ..... [2002]253itr139(mad) .13. in the case of m. rajamoni amma (supra) the apex court has held that where the company has become deemed public company by virtue of section 43a of the companies act, 1956 with effect from october 1, 1975 and arrears sought to be recovered relate to assessment years 1977-78 to 1982-83 obviously, the .....

Thakur Dan Singh Bist and ors. Vs. Registrar of Companies

Court : Allahabad

Reported in : AIR1960All160; [1960]30CompCas405(All)

..... for criminal prosecution also.in (1934) 150 lt 254 (supra), maugham j., had before him a petition under section 372 of the english companies act of 1929 which corresponds to section 633 of the indian companies act of 1956. a certain director of the company in that case had acted as a director and performed the duties of that officer without possessing the required qualifications. during the period in ..... them before a magistrate charging them with offences punishable under those sections. the directors then applied to the high court under section 281 (2) of the companies act, 1913 for relief.that section corresponded to section 633(2) of the companies act of 1956. the case came up before balakrishna rao j. he felt satisfied that the applicants had acted reasonably and honestly but said that he could not grant .....

Official Liquidator Vs. Shri B.K. Modi and ors.

Court : Allahabad

Reported in : [2008]141CompCas438(All); [2008]85SCL148(All)

..... agarwal, learned senior counsel appearing for the opposite party no. 1,and sri s.k. saxena, official liquidator it is necessary to refer to certain provisions of the companies act, 1956.section 454 of the companies act, 1956 lays down as under:454. statement of affairs to be made to official liquidator.(1) where the court has made a winding up order or appointed the official liquidator ..... of the word 'officer', as given in sub-section (30) of section 2 of the companies act, 1956, the word 'officers' occurring in clause (a) of sub-section (2) of section 454 of the companies act, 1956, will include the directors of the company also.75. evidently, reading clause (a) of sub-section (2) of section 454 of the companies act 1956 with sub-section (30) of section 2 of the companies act, 1956, a person, who has been a director .....

Trackparts of India Limited and ors. and Smt. Radkhika Bhargava and or ...

Court : Allahabad

Reported in : 2000CriLJ310

..... was evolved by english courts. section 210 of the (british) companies act, 1948, and sections 459 to 461 of the (british) companies act, 1985, are akin to the provisions of sections 397 and 398 of the (indian) companies act, 1956. likewise section 433 of the (indian) companies act, 1956 is pari materia with section 222 of the (british) companies act, 1948 and section 517 of the (british) companies act, 1985. it would be found that section 44(g) of the indian ..... partnership act, 1932, provides for dissolution of .....

Maheshwari Khetan Sugar Mills (P.) Ltd. and ors. Vs. Ishwari Khetan Su ...

Court : Allahabad

Reported in : AIR1965All135; [1963]33CompCas1142(All)

..... declaratory relief from the courts of law shall not enable him to have the shares registered in his name. if we read section 34(3) of the indian companies, act 1913 and section 108 of the companies act 1956 in the above light, namely, that neither of the provisions are exhaustive, we can safely assume that the parliament had an ..... by making alterations in the register of members, it shall be necessary for the person to whom a share is allotted to move the court under section 155 of the companies act 1956, for rectification of the register and he shall be put to unnecessary inconvenience and expenses. similarly, if the actual owner of the shares standing ..... or authority acquires an interest in the property, by operation of law, without any voluntary act on his part.20. it shall be found that section 108 of the companies act, 1956, is not exhaustive, nor was section 34(3) of the amended indian companies act, 1913, exhaustive. they cover only two kinds of transfer of shares viz., under an .....

The Ing Vysya Bank Ltd. Vs. Shamken Spinners Ltd. and Others.

Court : Allahabad

..... companies act, 1956. the court further held that until the mandatory and complete process under the sica, 1985 is exhausted, no other authority or court would have jurisdiction to pass any order in respect of the sick industrial company, particularly such orders as to provide for its financial restructuring or for a compromise or arrangement with its members and creditors-something expressly covered by section ..... other words, in matters pertaining to a scheme proposed under sections 391-394 of the companies act and if proceedings are pending before the bifr, the company court would have no jurisdiction. in that case, the company had filed an application before the high court of bombay in terms of sections 391 of the 1956 act and a scheme was presented. the appellant before the supreme court applied .....

Shiromani Sugar Mills, Ltd., in Liquidation, (Through J.C. Mukerji and ...

Court : Allahabad

Reported in : AIR1945All354

..... to this principle of pari passu distribution, the preferential payments provisions are introduced by section 230 of the indian act, following section 264, companies act, 1929, and section 209, companies (consolidation) act, 1908. it is clear from sub-section (1) of section 230, indian companies act, which groups together revenue, taxes, cesses, rates, wages and salaries of clerks ..... provided nevertheless that this injunction shall be without prejudice to such application, if any, as the respondents may be advised to make under section 171, companies act, 1913, for leave to proceed with such recovery.17. the respondents must pay the petitioners the official liquidators of the shiromani sugar mills ..... of which we are capable, we have therefore formed the view, first, that the expression 'suit or other legal proceeding' in section 171, companies act, ought not to be given an artificially narrow construction by confining it to proceedings of the technical nature of a 'suit' and secondly .....

Shiromani Sugar Mills Ltd. (In Liquidation) Vs. Governor-general in Co ...

Court : Allahabad

Reported in : [1945]13ITR480(All)

..... . it is clear from sub-section (1) of section 230 of the indian companies act, which groups together revenue, taxes, cesses, rates, wages and salaries of clerks ..... identical with section 247 of the english act of 1929 and substantially reproduces section 186 of the companies (consolidation) act of 1908. as an express exception to this principle of pari passu distribution, the preferential payments provisions are introduced by section 230 of the indian act, following section 264 of the companies act, 1929, and section 209 of the indian act, following section 264 of the companies act, 1929, and section 209 of the companies (consolidation) act, 1908 .....

Modi Rubber Limited a Company Incorporated under the Companies Act, 19 ...

Court : Allahabad

Reported in : [2006]130CompCas32(All)

..... pendency of this appeal, and since an appeal is a continuation of the original proceeding, we are of the opinion that the appellant will get benefit of section 22 of the sick industrial companies act, 1985. as held by the supreme court in bai dosabu v. mathurdas : [1980]3scr762 , the appellate court can take into consideration events and changes ..... that it was registered on 4.2.2004 and hence the impugned order which was passed subsequently on 12.3.2004 was illegal as it violated section 22 of the sick industrial companies act.13. we do not agree. it may be that the reference application of m/s modi rubber limited was received on 4.2.2004 but ..... observation that it can also file an appeal against the winding up order.22. it may be mentioned that under section 17 of the sick industrial companies act 1985 the court has to make an enquiry under section 16 about the company through an operating agency, and then decide whether it is practicable to make its net worth exceed the accumulated .....