Court : Rajasthan
Reported in : 1988CriLJ1452; 1987(1)WLN238; 1989WLN(UC)502
..... the word 'property' used in section 630 of the companies act includes within its purview both the movable as well as immovable property and there are no words express or implied in this section which can restrict the application of the word property to only movable property. ..... garg is that section 630 of the companies act is only applicable with respect to movable property because sub-section (2) of the said section used the words 'deliver up' or'refund' and these words, according to him, can relate only to movable property. ..... for suspension of the sentence and also of the order passed by the chief judicial magistrate under sub-section (2) of section 630 of the companies act.3. ..... along with this sentence, the chief judicial magistrate also passed an order under sub-section (2) of section 630 of the companies act ordering the petitioner to deliver up the said quarter to m/s. ..... these words are, on the other hand, indicative of he fact that the immovable properties are also covered in the scope of section 630 of the companies act.4. ..... consequently jaipur udhyog ltd filed a criminal complaint against the petitioner in the court of the chief judicial magistrate, sawai madhopur for the offence under section 630(l)(b) of the companies act. ..... 1, 1978 when despite his retirement from the employment of the company, he did not deliver the possession of the quarter which had been allotted to him. ..... gives discretionary power to the appellate court and the discretion has to be exercised judicially. .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1962Raj118; [1961]31CompCas77(Raj)
..... , the court can direct notwithstanding the fact that the offence is one for which the offender may be criminally liable.section 45-h of the banking companies act further lays down that where an application is made to the high court under section 235 of the indian companies act, 1913, against any such person and the applicant makes out a prima facie case against the person concerned, the high court shall make an order against ..... , should repay the above sums together with interest to the bank.as against the other three directors the case put forward was that they rendered themselves liable under section 235 of the companies act, 1913 because in their capacity of directors they either abetted or connived at the conduct of shri vastulal in mis-using the above sums belonging to the bank. ..... not been reopened in the appeals before us and, therefore, it is not necessary to advert to them.the only question which falls to be decided is the question of fact; whether the liquidator has succeeded in making out a prima facie case under section 235 of the indian companies act, 1913, read with section 45-h of the banking companies act of 1949 against the respondent vastulal. mr. ..... directing the officer to repay or restore the assets, unless the person concerned proves that he is not liable to make the repayment or restore the property.the court had to be armed with such summary power in order to protect and pursue the assets of the bank under liquidation which otherwise may be irretrievable. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1987]61CompCas744(Raj)
..... the word 'property'used in section 630 of the companies act includes within its purview both movable as well as immovable property and there are no words, express or implied, in this section which can restrict the application of the word 'property' to only movable property. ..... garg is that section 630 of the companies act is only applicable with respect to movable property because sub-section (2) of the said section used the words ' deliver up ' or 'refund' and these words, according to him, can relate only to movable property. ..... along with the appeal, he filed an application under section 389, criminal procedure code, for suspension of the sentence and also of the order passed by the chief judicial magistrate under sub-section (2) of section 630 of the companies act. 3. ..... along with this sentence, the chief judicial magistrate also passed an order under sub-section (2) of section 630 of the companies act ordering the petitioner to deliver up the said quarters to m/s. ..... these words are, on the other hand, indicative of the fact that immovable properties are also covered in the scope of section 630 of the companies act. 4. ..... filed a criminal complaint against the petitioner in the court of the chief judicial magistrate, sawai madhopur, for the offence under section 630(1)(b) of the companies act. ..... section 389, criminal procedure code, gives discretionary power to the appellate court and the discretion has to be exercised judicially. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1974]44CompCas445(Raj); [1974]95ITR488(Raj); 1973()WLN567
..... 35 a question arose before the supreme court that in view of the provisions of section 49e of the indian income-tax act, 1922, the tax due to the department must get priority over other unsecured creditors in spite of the provisions of sections 228 and 229 of the companies act of 1913, which are analogous to section 530 of the companies act, 1956. ..... the commissioner of income-tax (central), new delhi, and the income-tax officer, central circle iii, jaipur, have filed this special appeal under section 483 of the companies act, 1956, read with section 18 of the rajasthan high court ordinance, 1949, against the order of the learned company judge dated 22nd march, 1972. ..... if any dispute regarding the affairs of the company arise during the course of the pendency of the winding-up proceedings then such a dispute under the scheme of the companies act should be settled by the company judge under section 446 of that act so that agencies not knowing the true state of affairs of the winding-up of the company may not interfere with the functioning of the liquidator who has to wind up the company under the direct supervision of the winding-up court. ..... it is with this view that the legislature has centralised the power of supervision in the company judge and a statutory ban is put on the institution of suits or initiation of legal proceedings without the leave of the court. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1994]81CompCas50(Raj)
..... so, however, that the total period shall not exceed seven years in the aggregate,(4) any declaration made under sub-section (3) with respect to a sick industrial company shall have effect notwithstanding anything contained in the companies act, 1956 (1 of 1956), or any other law, the memorandum and articles of association of the company or any instrument having effect under the said act or other law or any agreement or any decree or order of a court, tribunal, officer or other authority or of any submission, settlement or ..... there has been under any scheme under this act an amalgamation of a sick industrial company with another company, the provisions of section 72a of the income-tax act, 1961 (43 of 1961), shall, subject to the modifications that the power of the central government under that section may be exercised by the board without any recommendation by the specified authority referred to in that section, apply in relation to such amalgamation as they apply in relation to the amalgamation of a company owning an industrial undertaking with another company. ..... the purpose of winding up of the sick industrial company, the high court may appoint any officer of the operating agency, if the operating agency gives its consent, as the liquidator of the sick industrial company and the officer so appointed shall for the purpose of the winding up of the sick industrial company be deemed to be, and have all the powers of, the official liquidator under the companies act, 1956 (1 of 1956). .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)199CTR(Raj)305; [2006]281ITR177(Raj)
..... (i) and (ii)] attributable to the business, the profits from which are eligible for deduction under section 80hhc or section 80hhd; so however, that such amounts are computed in the manner specified in sub-section (3) or sub-section (3a) of section 80hhc or sub-section (3) of section 80hhd, as the case may be; or(iv) the amount of the loss or the amount of depreciation which would be required to be set off against the profit of the relevant previous year as if the provisions of clause (b) of the first proviso to sub-section (1) of section 205 of the companies act, 1956 (1 of 1956), are ..... referred by the tribunal by holding that the ao cannot question the correctness of the p&l; a/c prepared by the assessee-company and certified by the statutory authorities as having in accordance with the requirements of part ii and part iii of the schedule vi.the court clearly stated that ao while computing the income under section 115j has only the power of examining whether the books of account are certified by the authorities under the companies act as having been properly maintained in accordance with the ..... the provision does not give any authority to any instrumentality functioning under the act to probe into finding book profit de hors what has been shown in the audited books of account which are placed before agm and approved by the shareholders and certified by the registrar of companies when the same is filed with him. .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2009(4)Raj3162
..... amalgamation under section 394 of the companies act on 16-6-1999.secondly, at that relevant time, the definition of the word 'conveyance' as contained in section 2(xi) of the rajasthan stamps act did not include an order passed by a high court under section 394 of the companies act.thirdly, the definition was amended on 27-5-2004 and by way of amendment, the definition of the word 'conveyance' was enlarged to include 'every order made by the high court under section 394 of the companies act, 1956, in respect ..... whether an amendment in law can be given a retrospective effect so as to include an order passed by a high court?2) whether the original definition of word 'conveyance' included an order passed by high court under section 394 of the companies act or not?3) whether the definition of the word 'conveyance', which was amended on 27-5-2004, was by way of clarification or whether the amendment created a tax liability for the first time?4) whether the order passed ..... by a high court under section 394 of the companies act is compulsorily registrable under the provisions of section 17 of the registration act, 1908 or not?5) whether the learned collector and the learned board have committed an illegality while retrospectively applying the amended definition of the word 'conveyance ..... amending the provision-a power which does not rest .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1988Raj16; [1988]64CompCas334(Raj); 1987(1)WLN627
..... the parliament has enacted the companies act and under the companies act elaborate rules have been framed by the supreme court after consultation with the high courts, in exercise of the power conferred by sub-sections (1) and (2) of section 643 of the companies act, 1956 and part iii of the rules commencing from rule 95 makes provisions for winding ..... proceedings specified provisions have also been enacted under the companies act, 1956, which are sections 442 and 443. ..... notification in the official gazette, declare that an industrial undertaking specified in the notification, whether started, acquired, or otherwise taken over, by the state government, or in respect of which a notified order under section 18a of the industries (development and regulation) act, 1951 (central act 65 of 1951) is in operation, and carried on, or proposed to be carried on, by itself, or under its authority or to which any loan guarantee, or other financial assistance has been provided by the state government shall, with effect from ..... acts coming under this entry--sections 45a-b of the banking companies act, ..... the legislation made by the state legislature is to make law in relation to the subjects falling under entries 23 and 33 although incidentally, it also just impinges upon the proceeding of winding up, which are regulated by the companies act, enacted by the parliament under entry 43 of list 1. ..... include legislation providing for the amalgamation of companies, but not the regulation of their functions. 2. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1990]69CompCas248(Raj)
..... in both the petitions, an application has been filed under section 391(2) of the companies act, 1956, for sanctioning a scheme of compromise and arrangement between the creditors and the company, sahu minerals and properties ltd. ..... (hereinafter referred to as 'the company') under section 395(5) read with section 433(c) of the companies act, 1956. ..... it is also contended that the winding-up petition was filed under section 439(5) read with section 433(c) of the companies act and section 433(c) provides that if a company does not commence its business within a year from its incorporation or suspends its business for a whole year, then the said company may be ordered to be wound up by the court on an application filed by the registrar of companies and such application should be filed by the registrar only after obtaining the previous sanction from the regional director ..... , company law board, and, since no such sanction was obtained by the registrar .....
Tag this Judgment!Court : Rajasthan
Reported in : [2009]148CompCas843(Raj); [2007]76SCL157(Raj)
..... of the explicit provisions of section 20(4) of sica, available only with bifr ..... upon hon'ble company court, as long as the company was not wound up, the hon'ble supreme court held that the act of the company court was invalid.given the concept of limited jurisdiction of high court, under section 20(4) of sica as against section 536(2) of companies act, hon'ble supreme court held, that on a correct reading of the companies act, 1956, the company court cannot be accepted to be possessed with the power to order sale, and that by law, prior to the winding up of the company, the power of sale, was by virtue .....
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