Court : Mumbai
Reported in : [1995]82CompCas342(Bom)
..... hence, the impact of these provisions on section 537 of the companies act, 1956, which is similar to section 232 of the indian companies act, 1913, could not have been considered by the supreme court. 8. ..... , the proviso to section 529(1) and section 529a, which are inserted in the companies act, 1956, by reason of the companies (amendment) act, 1985', make any difference to the position of a secured creditor with a right to sell the property directly without the intervention of the court. 9. ..... in view of the terms of the indenture of mortgage and further charge referred to above and the provisions of the state financial corporations act, 1951, the appellants took out a judges' summons before the company judge dated august 16, 1988, seeking leave under section 537 of the companies act, 1956, to proceed with the sale of the land, building, plant and machinery of the company situate at tarapur. ..... the indian companies act, 1913, did not have any provision equivalent to the amended section 529 or section 529a of the companies act, 1956. ..... the supreme court considered the words 'any sale held without leave of the court of any of the properties' in section 232 of the indian companies act, 1913, which provisions are equivalent to the provisions of the present section 537 of the companies act, 1956. ..... in these circumstances, leave is granted to the appellants under section 537 of the companies act, 1956, to sell the said properties, viz. .....
Tag this Judgment!Court : Mumbai
Reported in : [1980]50CompCas646(Bom)
..... 643(1)(b)(v) of the companies act, 1956, the supreme court after consulting the high court is entitled to make rules consistent with the cpc, 1908, generally for applications to be made to the court under the provisions of the companies act. ..... in any case, assuming that the two sections do apply, and that the petitioners will have no say in the conduct of litigation on behalf of the company, the only person who will be in charge of the conduct on behalf of the company will be sardar bakshi dalip singh who is to-day 90 years old and against whom a number of allegation have been made in the petition ..... is a moot point whether these two sections will apply in a case where the directors of the company have suits against the company which the company is required to defend. ..... 397 and 398 of the companies act basically the provisions of both these sections provide for relief in cases of oppression of minority shareholders and in cases where the affairs of the company are being conducted in a manner prejudicials to public interest or in a manner oppressive to any member or members ..... 561) : 'both under sections 397 and 398 the interests of the company are of paramount importance and the proceedings should not be conceived as a mere dispute between ..... powers are given under these sections to the court to pass an order which will be in the interests of the company. ..... 784, it is stated as follows : 'proceedings under sections 397 and 398 cannot be compromised in the same way as suits between private .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2008)216CTR(SC)102; [2008]300ITR251(SC); JT2008(5)SC529; 2008(6)SCALE659; 2008AIRSCW3407
..... 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 (3-a) 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 applicable. ..... the accounts have further been passed and approved by the general body of shareholders at the annual general meeting. ..... while so looking into the accounts of the company, an assessing officer under the income tax act has to accept the authenticity of the accounts with reference to the provisions of the companies act which obligates the company to maintain its account in a manner provided by the companies act and the same to be scrutinized and certified by statutory auditors and will have to be approved by the company in its general meeting and thereafter to be filed before the registrar of companies who has a statutory obligation also to examine and satisfy that .....
Tag this Judgment!Court : Kolkata
Reported in : [1968]38CompCas371(Cal),72CWN117
..... . sen's argument that to build a case under section 256(4) of the companies act, it is necessary to allege and establish the further fact that the annual general meeting which has not expressly resolved not to fill vacancy, stood adjourned till the same day at the same time and place in the next week and at the adjourned meeting also the vacancy was not filled up and the meeting had not expressly resolved not to fill the vacancy. mr ..... . sen has argued that the election of the office bearers of the council is to be held under the articles of the council and also under the provisions of the companies act, only at the annual general meeting at which the office bearers retire ; and such election has to be by show of hands, or by ballot if poll is demanded ..... . to facilitate the holding of the election, the committee of the council has framed certain rules, but the said rules cannot override the provisions of the articles or the companies act and as a safeguard against any such lacuna, the confirmation of such election is required at the annual general meeting ; and according to mr ..... mica export promotion council is a company incorporated under the companies act, 1956. ..... 1, mica export promotion council, hereinafter referred to as the council, was incorporated under the companies act, 1956, as a company limited by guarantee and the main objects of the council are to promote exports of mica and by-products of the mica industry. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1964Cal247,68CWN302
..... the provisions of the indian companies act (hereinafter referred to as the act) indicate, first, that at every annual general meeting held under section 166 there has to be under section 210 a balance-sheet as at the end of the period specified in sub-section (3) of section 210, and a profit and loss account for that period, and these accounts are to be laid before the company at every annual general meeting of the company held in pursuance of section 166. ..... section 166 of the act indicates that every company shall in each year hold in addition to any other meetings a general meeting as its annual general meeting, and shall specify the meeting as such in the notice calling it and not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next. ..... to sum up the provisions of the companies act are that section 210 provides that at every annual general meeting of a company held in pursuance of section 166, the board of directors of the company shall lay before the company, first a balance sheet for a period following the last accounts and secondly, the profit and loss account for that period. .....
Tag this Judgment!Court : Delhi
..... documents clearly show that there has been a falsification of the minutes of the annual general meeting (agm) as also of the board meetings; there has been a total noncompliance of the provisions of section 224 of the companies act. ..... the indian companies act, 1956, sections 153-c and 153-d were incorporated as sections 397 & ..... and others, (a judgment delivered under the companies act, 1913) had an occasion to discuss the scope of section 153-c (equivalent to section 397 of the companies act, 1956); relevant extract of which reads as under:the true scope of section 153-c is that whereas prior to its enactment the court had no option but to pass an order for winding up when the conditions mentioned in section 162 were satisfied it could now in exercise of the powers conferred by that section make an order for its management by ..... its recommendations had also noted that the discretion given to the court under section 210 of the english companies act, 1948 (section 397 of the companies act, 1956) is very wide and far reaching; the court may pass any order regulating the conduct of the companys affairs in the future and provide for the purchase of the share of any member by the another member of the company and also contrary to the existing rules of the company law. ..... (supra), a petition under section 210 of the english companies act, 1948 (section 397 of the companies act, 1956) along with section 222 (f) seeking winding up of the company (section 433 of the companies act) had been filed. .....
Tag this Judgment!Court : Delhi
..... judge (companies act) had taken cognizance of the offences mentioned in the said complaint and directed issuance of summons for the offences under section 447 of the companies act. ld. ..... has been filed against the petitioner for the offences punishable under section 447 of the companies act, 2013. ld. ..... asj-03 cum special judge(companies act), south west district, dwarka courts in criminal complaint no.770/2019 directing issuance of nbw issued against the ..... asj/special judge (companies act) for cancellation of nbws as well as for grant ..... asj/special judge (companies act) is contrary to law laid down by the hon ble high ..... asj/special judge (companies act) had also directed appearance of petitioner ..... asj/special judge (companies act) naming 287 persons ..... special judge (companies act) on 14.10. ..... judge (companies act). ..... judge (companies act). ..... judge (companies act).10. ..... judge (companies act). ..... judge (companies act). ..... judge (companies act). ..... orders, the ministry of corporate affairs had ordered an investigation into the affairs of various companies including bsl, by the serious fraud investigation officer. ..... becoming aware about the order dated 14.10.2019, the petitioner acted with urgency and conducted inspection through his counsel on 30.10.2019, ..... bhushan singhal (a-158) in bail petition no.2454/2019 vide order dated 10.10.2019 and petitioner is on a better footing than the above mentioned co-accused as he is not even alleged to be involved in the affairs of any of the companies under investigation.4. .....
Tag this Judgment!Court : Karnataka
..... 3642 of 2018 wp no.3829 of 2018 wp no.3943 of 2018 wp no.4381 of 2018 wp no.4671 of 2018 wp no.6074 of 2018 wp no.11889 of 2018 order the proceedings before the lix additional city civil and sessions judge, special court, under the companies act, 2013, bengaluru city, for offenses punishable under sections 36 read with section 448 and 447 of the companies act, 2013, and section 68 read with section 628 of the companies act, 1956, are challenged in these petitions. ..... therefore, the offence which was committed under the repealed act would not cease to be triable after the repeal of the act, and section 6 of the general clauses act will come into play enabling the continuation of proceedings, including the investigation, as if the repealing had not been passed.1) nar bahaddur bhandari (air1998sc2203;2) mohammed abdul raheemkalota -vs- union of india (2009) 2 scc13) justice k s ..... the offence u/s 68 of act, 1956 can be invoked against any person who meets the criteria outlined in the ..... in its order dated 16.06.2008 while sanctioning the scheme of arrangement observed as follows: i) by order dated 23, 2008 in ca no.208/2008, this court ordered the meeting of equity shareholders, secured and unsecured creditors to be convened. ..... vijay mallya, the meeting witnessed 98 equity shareholders, holding 9, 21, 68, 755 equity shares of rs.10 each fully paid up, vote in favor of the scheme, while 2 shareholders, representing 58 equity shares of rs.10 each fully paid up, voted against it, with 6 votes .....
Tag this Judgment!Court : Karnataka
..... 3642 of 2018 wp no.3829 of 2018 wp no.3943 of 2018 wp no.4381 of 2018 wp no.4671 of 2018 wp no.6074 of 2018 wp no.11889 of 2018 order the proceedings before the lix additional city civil and sessions judge, special court, under the companies act, 2013, bengaluru city, for offenses punishable under sections 36 read with section 448 and 447 of the companies act, 2013, and section 68 read with section 628 of the companies act, 1956, are challenged in these petitions. ..... therefore, the offence which was committed under the repealed act would not cease to be triable after the repeal of the act, and section 6 of the general clauses act will come into play enabling the continuation of proceedings, including the investigation, as if the repealing had not been passed.1) nar bahaddur bhandari (air1998sc2203;2) mohammed abdul raheemkalota -vs- union of india (2009) 2 scc13) justice k s ..... the offence u/s 68 of act, 1956 can be invoked against any person who meets the criteria outlined in the ..... in its order dated 16.06.2008 while sanctioning the scheme of arrangement observed as follows: i) by order dated 23, 2008 in ca no.208/2008, this court ordered the meeting of equity shareholders, secured and unsecured creditors to be convened. ..... vijay mallya, the meeting witnessed 98 equity shareholders, holding 9, 21, 68, 755 equity shares of rs.10 each fully paid up, vote in favor of the scheme, while 2 shareholders, representing 58 equity shares of rs.10 each fully paid up, voted against it, with 6 votes .....
Tag this Judgment!Court : Karnataka
..... 3642 of 2018 wp no.3829 of 2018 wp no.3943 of 2018 wp no.4381 of 2018 wp no.4671 of 2018 wp no.6074 of 2018 wp no.11889 of 2018 order the proceedings before the lix additional city civil and sessions judge, special court, under the companies act, 2013, bengaluru city, for offenses punishable under sections 36 read with section 448 and 447 of the companies act, 2013, and section 68 read with section 628 of the companies act, 1956, are challenged in these petitions. ..... therefore, the offence which was committed under the repealed act would not cease to be triable after the repeal of the act, and section 6 of the general clauses act will come into play enabling the continuation of proceedings, including the investigation, as if the repealing had not been passed.1) nar bahaddur bhandari (air1998sc2203;2) mohammed abdul raheemkalota -vs- union of india (2009) 2 scc13) justice k s ..... the offence u/s 68 of act, 1956 can be invoked against any person who meets the criteria outlined in the ..... in its order dated 16.06.2008 while sanctioning the scheme of arrangement observed as follows: i) by order dated 23, 2008 in ca no.208/2008, this court ordered the meeting of equity shareholders, secured and unsecured creditors to be convened. ..... vijay mallya, the meeting witnessed 98 equity shareholders, holding 9, 21, 68, 755 equity shares of rs.10 each fully paid up, vote in favor of the scheme, while 2 shareholders, representing 58 equity shares of rs.10 each fully paid up, voted against it, with 6 votes .....
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