Judgment Search Results Home > Cases Phrase: companies act 1956 section 581s matters to be transacted at general meeting Page 51 of about 610 results (0.153 seconds)

international Finance Corporation Vs. Bihar Sponge and Iron Ltd. and o ...

Court : Delhi

..... which arose in the case of kotak mahindra bank ltd, was whether on refusal of consent by the secured creditors, can bifr acting under the sick industrial company (special provisions) act, 1985 (sica) refer the matter to the company court for approval of a scheme for arrangement and composition under sections 391 to 394 of the companies act, 1956. ..... if a minority secured creditor cannot frustrate a scheme of composition under section 391 to section 394 of the companies act, 1956, there is no reason why a minority shareholder should be able to frustrate the revival and rehabilitation of a sick industrial company by refusing to accept a reduced amount and a statutory settlement which is brought about by approval of a rehabilitation scheme by bifr as per the proposal of the operating agency and arrived at after duly considering the suggestions and objections ..... the first aspect is that even when a company is not sick and proceedings are resorted to by the company under section 391 to section 394 of the companies act, 1956 to bring about a composition and settlement with its creditors, it is the majority of the secured creditors who do prevail, meaning thereby minority secured creditors cannot frustrate a scheme which is propounded by the majority of ..... was further contended that the secured creditors in the joint meeting dated 19.8.2002 before the oa had specifically raised this issue ..... when we drew the attention of the learned attorney-general to the concession made before the high court, .....

Calcutta Cosmopolitan Club Ltd. Vs. Bhanwarlal Bhandari and ors.

Court : Kolkata

Reported in : 2004(1)CHN498

..... was), sitting singly had occasion to deal with this question and hold that a suit relating to a company or a corporation is not maintainable in the city civil court at calcutta, while interpreting the meaning of the provision contained in item 10 of the first schedule read with section 5 of the city civil court act relying on the definition of corporation as given in section 2(7) of the companies act, 1956. ..... liability company incorporated under the provision of the companies act, 1956. ..... the companies act has been defined in section 2(7) of the companies act to include companies. ..... respondent had sought for an injunction permitting the plaintiff to participate in the annual general meeting (agm) and the extraordinary general meeting (egm) of the defendant/appellant sought to be held on 28th september, ..... section 2(7) of the companies act while defining corporation includes companies ..... 10 (i) precludes suits and proceedings under the indian companies act, 1913 or the banking companies act, 1949 or (ii) suits and proceedings relating to or arising out of constitution, incorporation, management or ..... plaint, failing to indicate the rising of cause of action within the jurisdiction, or otherwise pointing out to any legal incompetence to entertain a particular kind of suit are matters to be taken into consideration for the purpose of arriving at a conclusion with regard to the existence of a prima facie case. ..... transactions are for the management of the company ..... transacted in agm and egm of a company. .....

Ramnarayan Amarchand and anr. Vs. Emperor

Court : Mumbai

Reported in : AIR1919Bom111; 52Ind.Cas.481

..... the way in which the charge in respect of the balance sheet of 1913 has been explained by the learned advocate-general with reference to the items of depreciation, reserve fund, and the unpaid dividend accounts illustrates to my mind clearly that the acts said to have been done with reference to the charge under section 282 of the indian companies act are entirely distinct and have reference solely to the balance-sheet of 19.3. ..... i do not think that such a general purpose can afford any justification for treating the different acts attributed to the accused as forming part of the same transaction within the meaning of sections 235 and 239 of the code. ..... under sections 235 and 239 of the code of criminal procedure, the charges that could be tried must arise out of acts committed in the same transaction or so connected together as to form the same transaction. ..... ' if we were to take those words an covering a case of this kind, it would lead us to treat the same acts of misconduct or fraud, however often repeated, as constituting the same transaction, if there was the same general purpose underlying the repeated acts. ..... one only has to think over the matter, a little carefully, however, to see that this idea of a conspiracy covers a very great deal that cannot be included in the idea of the same transaction. .....

Webcity Infosys Ltd. Vs. Registrar of Companies (Delhi and Haryana)

Court : Delhi

Reported in : 2007(98)DRJ710

..... alleging violation of sub-section (1) and sub-section (2) of section 205-a of the companies act 1956, complaint in question was filed beyond a period of 6 months from the date when the offence was completed i.e. ..... whereas petitioners urge that by virtue of sub-section (8) of section 205-a of the companies act the offence being punishable with only fine, limitation would be 6 months by virtue of section 468(2)(a) of the code of criminal procedure 1973, prosecution states that though limitation would be 6 months but since it is a continuing cause of action, complaint is not barred by limitation.4. ..... only difference being that word used in sub-section (1) of section 162 is 'default' and the word used in sub-section (8) of section 205-a of the companies act is 'failure'.11. ..... contrasted with the language of sub-section (8) of section 205 of the companies act, it be noted that the 2 provisions are pari materia. ..... the ratio of law declared in deokaran nanshi's case (supra) as followed and elaborated by the division bench of the calcutta high court in national cotton mills' case (supra) requires this court to hold that offence under section 205-a of the companies act, as punishable under sub-section (8) thereof, is not a continuing offence. ..... a division bench of the calcutta high court considered section 162 of the companies act which deals with a failure to submit returns. .....

Baishnab Charan Bagudai Vs. Official Liquidator, Puri Bank Ltd.

Court : Orissa

Reported in : AIR1961Ori67

..... of 1958, the judgment-debtor one baishanab charan bagudai is the petitioner for setting aside an ex parte decree passed against him by this court on april 26, 1957 purported to have been made under section 45-d of the banking companies act, 1949, mainly on the ground that the summons was not served on him and that the said decree was passed without his knowledge and that he had, on merits, a good defence to the ..... and further that this court has got no jurisdiction to condone the delay under section 5 of the limitation act on the ground that the said section is not applicable to the present proceedings, the judgment-debtor appears to rely on the petition,-- supported by authority,-- that in equity no length of time will run td protect or screen fraud -- the right of the party defrauded to have the transaction set aside is not affected by lapse of time, so long as he ..... the note that the summons under order 5, rule 20 had been served properly as reported by the process server and hence the service was considered sufficient.in due course the matter came up before this court for hearing and an ex parte decree was passed as aforesaid. ..... 50 of 1956 on july 20, 1956 at his home address, ..... 50 of 1956 and there was indeed sufficient cause by which he was prevented from appearing on the date fixed for hearing as he did not receive the summons ..... 50 of 1956 in which the ex parte decree was passed.it is not that there was any motive on the part of the bank in choosing a particular course of service .....

In Re: Sjk Steel Plant Limited, a Company Incorporated Under the Provi ...

Court : Andhra Pradesh

Reported in : [2008]143CompCas161(AP)

..... sjk steel plant limited under sections 100, 391 and 392 of the companies act, 1956 (the act, for brevity), seeks sanction of the court to the scheme of compromise/arrangement proposed by the petitioner with their shareholders.on 16th march 1993, the petitioner company was incorporated as sujana metal india limited, as per certificate of incorporation. ..... it was held therein as under.it is well settled that under section 391 of the companies act, the court is invested with very wide powers to approve or sanction any scheme of amalgamation, arrangement, compromise or reconstruction. ..... the court has power to sanction all matters which for their effectuation require a special procedure to be followed under the companies act. ..... 5,000/-(rupees five thousand only) to the assistant solicitor general for the central government.the petition shall stand disposed of accordingly. ..... the power is intended to protect the interest of these categories of persons and in a given case where the secured creditors and shareholders unanimously accept and agree to the scheme in the meeting convened as ordered by this court, the objections on the ground of contravention or breach of provisions of the act, notwithstanding the scheme can be sanctioned by the court. ..... it was also observed therein that broad and general principles in any compromise or settlement should be kept in mind while examining scheme of arrangement. .....

Shanti Prasad JaIn Vs. Kalinga Tubes Ltd. and ors.

Court : Orissa

Reported in : AIR1962Ori202

..... section 173 of the indian companies act, 1956, requires that where any items of business are to be transacted at such meeting, there snail be annexed to the notice of the meeting a statement setting out all material facts concerning each such item of business. ..... the managing director of the company in his reply dated march 20, 1958 pointed out that the matter was to be decided by the general meeting of the shareholders and did not express any opinion in the matter. ..... the interest of the company or mala fide, the statutory right of the existing shareholders to acquire the new shares continues till the time limited has expired and that right ..... the object of section 81 is to prevent discrimination amongst shareholders and prevent the directors from offering shares to outsiders before they are offered to the shareholders; so long as these two requirements are complied with, the action of the directors in selecting the time when they will issue the shares as also the proportion in which they should be issued is a matter left to their discretion; this is of course subject to the general exception that the directors are not to act against .....

Maharashtra Power Development Corporation Limited Vs. Dabhol Power Com ...

Court : Mumbai

Reported in : AIR2004Bom38a; [2003]117CompCas651(Bom); [2004]50SCL440(Bom)

..... the court was concerned with section 202 of the companies act, 1913 in that matter which is by and large pari materia with section 483 of the companies act, 1956. ..... against the decision of the company law board in such a matter an appeal is available under section 10-f of the companies act to a single judge of the high court. ..... in aggrawal's case, the apex court had held overruled the preliminary objections and held that the order passed by the company judge under section 397 or section 398 was one which was passed in lieu of winding up and hence it was in the matter of winding up and, therefore, it was appealable under section 483 of the companies act. ..... the order of an application under section 397 would be an order made or decision given in the matter of winding up of a company and appealable under section 483 of the companies act. ..... nicolle # 1922 (1) ac 284 to the following effect:# where general words in a latter act are capable of reasonable and sensible application without extending them to subjects specially dealt with by earlier legislation, that earlier and special legislation is not to be held indirectly repealed, altered, or derogated from merely by force of such general words, without any indication of a particular intention to do so.#13. ..... the full bench has observed that the settled legal position is that a prior particular or special law is not readily held to be repealed to a latter general enactment. .....

Life Insurance Corporation of India Vs. Asia Udyog (P) Ltd. and ors.

Court : Delhi

Reported in : [1984]55CompCas187(Delhi); [1984]145ITR520(Delhi)

..... the life insurance corporation was that as section 15 of the act of 1971 laid down that no court shall have jurisdiction to entertain any suit or proceeding in respect of the eviction of any person who is in unauthorised occupation of any public premises or for recovery of rent or for damages, the said act of 1971 conferred exclusive jurisdiction on the authorities under the said act to deal with matters of public premises and, thereforee, section 446 of the companies act being a general act could not control those proceedings. ..... same is the position of unsecured creditors under the companies act, 1956, see sections 528, 530. ..... ) the act of 1971 would be treated to be a general provision applicable to all public premises while section 446 of the companies act will be treated to be a special provision when public premises are occupied by companies under winding up. ..... (1) the question referred to the full bench is whether before initiating proceedings under section 4 and 7 of the public premises (eviction of unauthorised occupants) act 1,971 (hereinafter to be called the 1971 act) the life insurance corporation (hereinafter referred to as lic) is required under law to seek leave of the winding up court under section 446 of the companies act 1956 (2) winding up proceedings were started against m/s. ..... the only effect of sub-section (2) of section 537, thereforee, is that the completed transaction whether by way of sale or in execution proceedings do not become void. .....

S. Viswanathan and anr. Vs. East India Distilleries and Sugar Factorie ...

Court : Chennai

Reported in : AIR1957Mad341

..... of association may be altered under section 12 of the companies act to enable the company to sell or dispose of the whole or any part of the undertaking of the company or to amalgamate with any other company or body "of persons (see section 12 (1) clauses (f) and (g)) ..... of very strong grounds, is to be entitled to set up its own view of the fairness of the scheme in opposition to so very large majority of the share-holders who are concerned.accordingly, without expressing a final opinion on the matter, because there may be special circumstances in special cases, i am unable to see that. ..... on this argument it is sufficient to say that section 153-b does not require that the transaction should be in the interest of the public; it is sufficient if the prescribed majority of ..... existing law in so far as it imposes, or prevent the state from making any law, imposing, reasonable restrictions on the exercise of any of the rights conferred by the said sub-clauses cither in' the interests of the general public or for the protection of the interests of any scheduled tribe. ..... entitled to participate in the dividends or to vote at an election, of directors or to participate in the meetings of the company it is because the statute enables them to do so. ..... by them on or before the 27th march 1956, the court thought fit to order otherwise, the ..... gave notice to the petitioners that upto 24-2-1956 the offer had been approved by the holders of not less than three-fourths in value of the ordinary shares of .....