Judgment Search Results Home > Cases Phrase: companies act 1956 section 424k misfeasance proceedings Court: kolkata Page 1 of about 1,095 results (0.084 seconds)

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 .....

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 .....

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, .....

In Re: National Sugar Mills Ltd. (In Liquidation)

Court : Kolkata

Reported in : [1978]48CompCas339(Cal)

..... received more than rs. 3,000 as remuneration for doing the work. in conclusion he says in his report from the statement of affairs filed by the management under section 454 of the companies act, 1956:' i am at a loss to understand how the management could compile the facts, figures and data as stated therein when the date of the statement was up ..... ajay k. basu, j.1. this is an application by the official liquidator under section 543 of the companies act, 1956, against various directors who have been made respondents in this application. of course some of the directors are government directors and government officials but none of the directors, though duly ..... expense. it appears to be a fictitious entry and the managing director must have made a personal gain out of these transactions.'10. coming to the responsibility of the directors, section 543 of the indian companies act gives power to the court to assess damages in the case of delinquent directors. if in the course of winding up of a .....

Official Liquidator Vs. Dr. Sailendra Nath Sinha and ors.

Court : Kolkata

Reported in : [1973]43CompCas107(Cal)

..... the death of a plaintiff or defendant shall not cause the suit to abate if the right to sue survives should be made applicable to misfeasance proceedings under section 543 of the companies act, 1956. in mulla's code of civil procedure, 12th edition, at page 934, it is observed :'the true doctrine is that whenever you find that the ..... or restore ' or be guided by the foundation of liability of the persons charged under it. a director is in the position of a trustee. under section 543 of the companies act, 1956, he is proceeded against for offences in the nature of a breach of trust and the losses occasioned, if any, by such breach ought to be restored ..... place and stead of the deceased and for other incidental and ancillary reliefs. the official liquidator instituted the misfeasance proceedings on the 2nd january, 1963, under section 543(1) of the companies act, 1956, which runs thus :' power of court to assess damages against delinquent directors, etc.--(1) if in the course of winding up a .....

Mamchand and Co. and ors. Vs. Commissioner of Income-tax, West Bengal ...

Court : Kolkata

Reported in : AIR1969Cal431,[1970]76ITR217(Cal)

..... : [1967]63itr638(sc) . 11. the learned advocate general relies strongly on the case of barium chemicals ltd. v. company law board : [1967]1scr898 . that was a case under section 237(b) of the companies act, 1956. under that provision, of law, if in the opinion of the central government then, were circumstances suggesting that the business of ..... a company was being conducted with intent to defraud its creditors, members, or any other person, or otherwise, for ..... circumstances and did not bring the matter within the scope of section 237(b) of the companies act. the faulty administration of the affairs of the company resulting in losses did not establish fraud or any intention to defraud the creditors of the company or the members nor did it amount to misfeasance or other .....

In Re: Indo Burma Industries Ltd.

Court : Kolkata

Reported in : AIR1956Cal648

..... not a defence to this application. even though it is made on the last date of limitation, the liquidator has the whole period granted by section 235, indian companies act within which to move.20. the application for the removal of the liquidator does not make this application bad. the application for the removal of ..... some contributors made an application for leave to be granted to the liquidator to require manindra, kanai and sudhangsu to file their statements of affairs under section 177a, indian companies act. the application was made by profulla kumar chakraborty and others. thereafter on 20-8-1949 an application was made by manindra nath ghosal and kiron ..... 1951. it is now 1956; four years have passed. that application still remains unmoved. the liquidator, after the public examination was over, presented this petition on 28-3-1952 noting it as made on that date.7. it is the liquidator's case that since the public examination under section 196, indian companies act, sudhangsu kumar basu, .....

Jameshedpur Cements Ltd and anr. Vs. the Official Liquidator

Court : Kolkata

..... no. 32 was filed with the registrar of the companies on 22nd january 1996. it was taken on record by the registrar of companies only on 30th march 2000. the company was wound up on 14th january 2003. a summons for misfeasance under section 543 of the companies act 1956 was taken out by the official liquidator on 19th december ..... 2007. on 7th april 2009 this summons was taken out by the applicant for being discharged from this proceeding. generally, after a company is wound up an enquiry is made by the ..... authorities. i will formulate the exception, after narrating the relevant facts. 29. the petitioner resigned on 28th december 1995. section 303 of the companies act enjoins the company to file with the registrar of companies a return of such resignation in a prescribed format within 30 days of such resignation. the format prescribed by the central .....

Dr. Sailendra Nath Sinha and anr. Vs. State and anr.

Court : Kolkata

Reported in : AIR1955Cal29,[1954]24CompCas539(Cal),1955CriLJ790,59CWN1

..... that the complainant was not a proper and competent person or on the ground that such a complaint requires any prior sanction of the company court under section 237 (1) of the companies act or under section 179(a) of the companies act. authorities like -- 'air 1937 all 714 (d)'; -- ' : air1953cal153 ' and -- ' : air1953mad595 , support the same conclusion.51. this conclusion is in accord with the viewsexpressed by ..... for prosecution of delinquent directors by liquidators under direction of the company court as provided therein continued in the english companies consolidation act of 1908 and in the english companies act of 1929. section 237(1) of the indian companies act of 1936 reproduces section 277 of the english companies act of 1929 on this point.in england however the companies act of 1929 was modified by the statutes of 1947 and 1948 .....