Court : Kerala
Reported in : AIR1961Ker14; [1960]30CompCas501(Ker); 1961CriLJ75
..... in this petition:'the court may be pleased(a) by virtue of the powers under sections 477 and 478 of the companies act, i of 1956, and section 45g of the banking companies act, to summon before it the counter-petitioners and publicly examine them as to the conduct of the business of the company and as to their conduct and dealings as officers thereof;(b) by virtue of the powers under section 543 of the companies act, i of 1956, and section 4511 of the banking companies act, 1949 as amended by act 52 of 1953, to examine the conduct of the counter-petitioners in relation to the ..... on 18-9-1958 another order was passed by the court.in that order it was found that the liquidator's report discloses a prima facie case of fraud by counter-petitioners 13, 14 and 15 who were working as officers of the company, 13th counter-petitioner as the general manager of the company and counter-petitioners 14 and 15 as agents of the alleppy office of the company. ..... the question of the public examination of counter-petitioners 1 to 8 who were the directors of the company and counter-petitioners 12 and iv who were respectively the general manager of the bank and the agent of its kuthiathode office, was deferred to be considered at a later stage. .....
Tag this Judgment!Court : Delhi
..... or inquiry stand abated under this clause may make a reference under part vi-a of the companies act, 1956 (1 of 1956) within one hundred and eighty days from the commencement of this act in accordance with the provisions of the companies act, 1956; (ii) which had become a sick industrial company as defined in clause (46-aa) of section 2 of the companies act, 1956 (1 of 1956), before the commencement of the companies (second amendment) act, 2002 (11 of 2003) may make a reference under part vi-a of the companies act, 1956 within one hundred and eighty days from the commencement of the ..... companies (second amendment) act, 2002 or within sixty days of final adoption of accounts after such commencement, ..... have to exercise caution for these are legislations relating to economic policies and such legislations have to be judged by the generality of the provisions and not by its crudities or equities or by possibility of abuse of any of the provisions. ..... not identity of treatment is enough and meet the requirements of equality. .....
Tag this Judgment!Court : Karnataka
Reported in : [1967]37CompCas511(Kar)
..... beginning of sub-section (2) of section 45-o, reference to section 543 of the companies act, 1956, and the earlier reference to section 235 of the indian companies act,1913, would be redundant and wholly unmeaning full if an application under section 543 of the companies act, 1956, or section 235 of the companies act,1913, by the liquidator cannot be regarded as an application on behalf of the company. ..... shareholders at the ensuing annual general body meeting of the shareholders. ..... exercised by the head office over its branches was inadequate; (ii) the books of account and records of the bank were not maintained properly; many important books of account including the general ledgers did not appear to have been checked by any official in the bank and contained errors and over-writings; (iii) the cash balance of the head office did not appear ..... directors did not exercise any effective supervision over the affairs of the bank or even made any effective enquiries, that no general rules were laid down for the guidance of the agent in making advances, that though they passed a resolution at a board meeting that the deposits should be reduced and that unsecured loans should be curtailed, they did not even enquire in the ..... of improper conduct on the part of the directors in obtaining excessive loans for themselves which the directors were not called upon to meet should be kept out of view in determining the liability of the directors for making good losses due to shortage of cash and .....
Tag this Judgment!Court : Jharkhand
..... 3652 of 2000 (r) m/s bihar ruffia industries a company incorporated under the companies act, 1956 having its factory at vth phase, adityapur, industrial area gamharia through one of its director, sri suresh agarwal, son of late r.d. ..... jamshedpur well pack industries a company incorporated under the companies act, 1956, having its factory at adityapur industrial area, gamharia through one of its director, sri naresh agarwal, son of late r.d. ..... of bihar 6.the general manager cum chief engineer, jamshedpur area electricity board, bistupur, jamshedpur 7.the electrical executive engineer (commercial & revenue) bihar state electricity board, electric supply circle, jamshedpur coram: the hon ble mr. ..... of bihar 6.the general manager cum chief engineer, jamshedpur area electricity board, bistupur, jamshedpur 7.the electrical executive engineer (commercial & revenue) bihar state electricity board, electric supply circle, jamshedpur ... ... ... .... ..... of bihar 6.the general manager cum chief engineer, jamshedpur area electricity board, bistupur, jamshedpur 7.the electrical executive engineer (commercial & revenue) bihar state electricity board, electric supply circle, jamshedpur ... ... ... .... ..... of bihar 6.the general manager cum chief engineer, dhanbad area electricity board, combined building dhanbad 7.the electrical executive engineer (commercial & revenue) bihar state electricity board electric supply circle, dhanbad 8.the electrical superintendent engineer, bihar .....
Tag this Judgment!Court : Jharkhand
..... 3652 of 2000 (r) m/s bihar ruffia industries a company incorporated under the companies act, 1956 having its factory at vth phase, adityapur, industrial area gamharia through one of its director, sri suresh agarwal, son of late r.d. ..... jamshedpur well pack industries a company incorporated under the companies act, 1956, having its factory at adityapur industrial area, gamharia through one of its director, sri naresh agarwal, son of late r.d. ..... of bihar 6.the general manager cum chief engineer, jamshedpur area electricity board, bistupur, jamshedpur 7.the electrical executive engineer (commercial & revenue) bihar state electricity board, electric supply circle, jamshedpur coram: the hon ble mr. ..... of bihar 6.the general manager cum chief engineer, jamshedpur area electricity board, bistupur, jamshedpur 7.the electrical executive engineer (commercial & revenue) bihar state electricity board, electric supply circle, jamshedpur ... ... ... .... ..... of bihar 6.the general manager cum chief engineer, jamshedpur area electricity board, bistupur, jamshedpur 7.the electrical executive engineer (commercial & revenue) bihar state electricity board, electric supply circle, jamshedpur ... ... ... .... ..... of bihar 6.the general manager cum chief engineer, dhanbad area electricity board, combined building dhanbad 7.the electrical executive engineer (commercial & revenue) bihar state electricity board electric supply circle, dhanbad 8.the electrical superintendent engineer, bihar .....
Tag this Judgment!Court : Jharkhand
..... 3652 of 2000 (r) m/s bihar ruffia industries a company incorporated under the companies act, 1956 having its factory at vth phase, adityapur, industrial area gamharia through one of its director, sri suresh agarwal, son of late r.d. ..... jamshedpur well pack industries a company incorporated under the companies act, 1956, having its factory at adityapur industrial area, gamharia through one of its director, sri naresh agarwal, son of late r.d. ..... of bihar 6.the general manager cum chief engineer, jamshedpur area electricity board, bistupur, jamshedpur 7.the electrical executive engineer (commercial & revenue) bihar state electricity board, electric supply circle, jamshedpur coram: the hon ble mr. ..... of bihar 6.the general manager cum chief engineer, jamshedpur area electricity board, bistupur, jamshedpur 7.the electrical executive engineer (commercial & revenue) bihar state electricity board, electric supply circle, jamshedpur ... ... ... .... ..... of bihar 6.the general manager cum chief engineer, jamshedpur area electricity board, bistupur, jamshedpur 7.the electrical executive engineer (commercial & revenue) bihar state electricity board, electric supply circle, jamshedpur ... ... ... .... ..... of bihar 6.the general manager cum chief engineer, dhanbad area electricity board, combined building dhanbad 7.the electrical executive engineer (commercial & revenue) bihar state electricity board electric supply circle, dhanbad 8.the electrical superintendent engineer, bihar .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1956P& H210
..... on behalf of the accused, and it was that under the companies act a complaint of this type by a private individual was not competent, as under the regulations made by the appropriate government under section 248, sub-section (2) indian companies act the registrar of joint stock companies, or a person duly authorised by him, were the only persons ..... conceded, that if the indian companies act provides a special manner for enquiry into, or trial of, offences under the indian companies act, then those provisions would override the general provisions of the criminal procedure ..... well-recognised principle generalia specialibus non derogant, that is to say, the general law does not override the special law in respect of any particular matter.the offences which have been created by the indian companies act are not punishable under the indian penal code. ..... mean that the registrar or a person duly authorised by him is alone competent to initiate proceedings and a member of the general public cannot (as he can under the indian penal code in respect of offences punishable under the indian penal code) initiate proceedings ..... the lord chief justice said in that case :'for instance, if an act provided that the attorney-general was to sue for a penalty, no one-else could sue for it; it is obvious that if everyone could sue for the penalty the attorney-general could sue for it, so that on that view of the statute the clause enabling him to sue would be unnecessary and useless'.reference was also made by .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1993)47ITD154(Mum.)
..... it is therefore, apparent that the rates of depreciation prescribed in schedule xiv of the companies act are applicable to working out profits of a company for the purpose of dividend to be paid out of such profits, & (ii) section 350 of the act prescribes mode of ascertainment of depreciation and as has been discussed above, it provides that the amount of depreciation to be deducted in pursuance of section 349(4)(k) of companies act, 1956 shall be the amount calculated with reference to the written down value of the assets as shown by the books of the assessee at the end ..... there is no dispute to the fact that schedule xiv of the companies act, 1956 provides for rates of depreciation in the context of provisions of sections 205 and 350 of the companies act, 1956. ..... a note forming part of annual account had also been duly given as a disclosure. ..... the rates have been clarified to be only the minimum rates but higher rates are permissible on the basis of a bonafide technological evaluation and after a proper disclosure by way of note forming part of annual accounts. ..... however, if on the basis of a bonajide technological evaluation, higher rates of depreciation are justified, they may be provided with proper disclosure by way of a note forming part of annual account.13. .....
Tag this Judgment!Court : Company Law Board CLB
Reported in : (2004)54SCL585
..... the learned counsel has further submitted that a past and concluded transactions cannot be set aside in a petition under section 397 of the companies act, 1956 as the petitioner has tried to do so in the instant petition because her letter of resignation dated 1.8.2001 duly considered by the respondent company and subsequently submitted before the registrar cannot be set aside as prayed for by the petitioner.6. ..... these averments have to be examined on the basis of the facts but for the purpose of eligibility under section 399 of the companies act, 1956 the petitioner has approached the company law board as a shareholder in terms of under section 397 & 398 of the companies act, 1956 and not as a director. ..... to judgment read as under:- "an order under section 397 of the companies act, 1956 granting relief against oppression on the application of some of the members of the company can be made by the court only if the court is satisfied, that the company's affairs are being conducted in a manner oppressive to any member or members, and, secondly, that the facts of the case are such that it would be "just and equitable" to make an order for winding up of the company, but the making of such an order .....
Tag this Judgment!Court : Chennai
Reported in : [1997]89CompCas732(Mad); 1997(1)CTC382
..... who is hereinafter referred to as the complainant in this order, had filed 32 complaints against various companies alleging that some of them have violate section 159 of the companies act and some of them have violated section 220 of the companies act; both offences are punishable under section 162 of the companies act. ..... of various other high courts, some holding that the offences under sections 159 and 220 of the companies act are continuing offences and some holding the contra view. ..... the view of the learned magistrate that the offences under sections 159 and 220 of the companies act, are not continuing offences and once an offence is done it is completed for all practicable purposes on that day itself, is opposed to at least three rulings ..... section 159 of the companies act is also made punishable under section 162 of the companies act ..... section 220 of the companies act is made punishable in section 162 of the companies act ..... consideration, some of the complaints relate to violation of section 159 of the companies act and some of the cases relate to violation of section 220 of the companies act. ..... however, on going through the records, i find that since that order is one of dismissal under section 203 of the code of criminal procedure, 1973, there is no need to order notice to any other ..... one judgment of this court holding that in such circumstances in a case of dismissal of the complaint under section 203 of the code of criminal procedure, 1973, the accused is not entitled to notice. .....
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