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Ramakrishna Raja Vs. Registrar of Companies

Court : Chennai

Reported in : [2005]123CompCas319(Mad)

..... 603 of 2002 is under section 63 of the companies act, 1956. in e.o.c.c. no. ..... 606 of 2002, the allegation against the accused is on the same set of facts for offences said to have been committed under section 62(1) of the companies act on the ground that the statement made by the company referred to above was false and the same was made with an intent to defraud the public to whom the shares and debentures were offered.6. ..... 603 of 2002, the allegation is that the petitioner has committed an offence punishable under section 63(1) of the companies act for the reason that the company had issued a prospectus dated december 22, 1995, filed with the complainant on december 2, 1995, in respect of a public issue of 14,40,000 equity shares of rs ..... 604 of 2002 is concerned, the offence is one under section 628 of the companies act, for which punishment is five years or with fine of rs ..... for offence under section 628 of the companies act, only damages can be ordered under section 63 of the companies act.9. ..... for offence under section 62 of the companies act, the punishment is two years and also fine ..... 604 of 2002, the complaint has been made on similar set of facts that the company has committed offence punishable under section 68 of the companies act.4. in e.o.c.c. no. ..... under section 63 of the companies act, the punishment for the alleged offence is two years or with fine of rs ..... it is the general rule that the act of an agent does not bind his principal unless it is within the authority given to him. .....

Maheshwari Khetan Sugar Mills (P.) Ltd. and ors. Vs. Ishwari Khetan Su ...

Court : Allahabad

Reported in : AIR1965All135; [1963]33CompCas1142(All)

..... when a new law was passed in 1956 a different provision was made in section 108 of the companies act, 1956 instead of laying down that 'it shall not be lawful for the company to register' the legislature provided that 'a company shall not register' when the parliament did not follow the wording of the english companies act, 1948, and departed from the corresponding provision of the indian companies act, 1913, as amended undei the companies (amendment) act, 1936, they can be deemed to have had in mind not to declare ..... (3) on an application under this section, the court, (a) may decide any question relating to the title of any person who is a party to the application to have his name entered in or omitted from the register, whether the question arises between members or alleged members on the one hand and the company on the other hand; and (b) generally may decide any question which it as necessary or expedient to decide in connection with the application for rectification. 6. ..... this is based upon the general rule- that no one can be permitted to derive undue advantage of a fraudulent or illegal act of his and, parties must be relegated to the position they occupied before the fraudulent or illegal act was done unless under the law the improper act can be condoned. ..... question of burden of proof generally loses importance where both the parties adduce their evidence. .....

The State of Gujarat Vs. O.L. of Kengold (India) Ltd. (In Liqn.) and a ...

Court : Gujarat

Reported in : [2009]149CompCas625(Guj)

..... & 151 of the bombay land revenue code on the one hand and the amended provisions contained in sections 529, 529a and 530 of the companies act, 1956 on the other hand, the companies act, 1956 being later in point of time and also being central statute, must prevail upon the bombay land revenue code in view of article 254 of the constitution of india which states that if any provision of ..... is having a precedence over any other debt, demand or claim whatsoever under section 137 of the bombay land revenue code, the same is repugnant to the provisions contained in sections 529a & 530 of the companies act, 1956 which specifically state that notwithstanding anything contained in any other provisions of this act, or any other law for the time being in force, in the winding up of a company, (a) workmen's dues and (b) debts due to secured creditors to the extent ..... a clear provision, the companies act cannot be held to give way to another act providing for recovery only leaving the rights and liabilities of the parties to be dealt with under a general law.34. ..... out an exception and says that nothing contained in this sub-section shall debar the liquidator from parting with such assets or properties for the purpose of payment of the tax payable by the company or for making any payment to secured creditors whose debts are entitled under law to priority of payment over debts due to government on the date of liquidation or for meeting such costs and expenses of the winding up of the company. .....

P.Elango Vs. Sundaran Finance Ltd.

Court : Chennai

..... the provision so enacted probably did not meet with the requirement with the result that the committee appointed for examining comprehensive amendment to the companies act in its report recommended that a suit by or against a company in winding up should notwithstanding any provision in law for the time being be instituted in the court in which the winding-up proceedings are ..... though sale is effected through court, still it can be challenged by the company under section 446 of the companies act, as it is open to the company court to entertain any claim by or against the company in liquidation.14. ..... the absence of a provision like section 446(2) under the repealed indian companies act, 1913, the official liquidator in order to realise and recover the claims and subsisting debts owed to the company had the unenviable fate of filing suits ..... section 171 of the indian companies act, 1913, the predecessor of section 446(1) did not contain any provision similar or identical to that of section ..... the fasciculus of sections included in part vii of the companies act bears the heading ..... the provisions of section 446(2) of the companies act have been interpreted by the hon'ble supreme court, in sudarsan chits (i) ltd., ..... court in the companies act is defined in section 2(11) to mean with respect to any matter relating to a company (other than any offence against this act), the court having jurisdiction under the act with respect to that matter relating to that company, as provided in section 10. .....

In Re: Calcutta City Bank Ltd.

Court : Kolkata

Reported in : AIR1957Cal508,62CWN39

..... - vate and public examinations under sections 195 and 196 of the old companies act, 1913 (corresponding to sections 477 and 478 of the new companies act, 1956) were not considered sufficient to deal with this situation that the special statute of the banking companies act made this special provision.10. ..... whole object of this legislation to say that such public examination under the special provisions of section 45g of the banking companies act was intended to be nothing more than the ordinary public examination provided for under section 196 of the old companies act, 1913 or the corresponding section 478 of the new companies act, 1956. ..... i am, therefore, satisfied with the special statute in this case and the special provisions made in this particular section 45g of the banking companies act, that it would be wrong to apply the doctrine of fraud and the prima facie proof of fraud and the particulars suggested in the two english decisions of the ..... but that such facts must be found by the official receiver as suggested fraud against the person incriminated; and that there must be an individual person incriminated; it is not enough that there is a general finding that fraud must have existed somewhere, which would mean nothing; but there must be an individual person pointed to and in respect of whom all these different provisions, for his protection as well ..... is the editor of an evening daily newspaper called free lance and the managing director of general orders and publishers ltd. .....

The Ing Vysya Bank Ltd. Vs. Shamken Spinners Ltd. and Others.

Court : Allahabad

..... has been raised to the maintainability of the application under section 391-394 of the companies act for convening a meeting of the secured creditors of the company for approving the proposed scheme of arrangement between the company and mr. ..... other hand, on behalf of the appellant and respondent no.2, it is sought to be contended that merely because there is no appeal provided under section 483 of the companies act, would not oust the jurisdiction of this court to entertain an appeal under rule 5 chapter viii of the allahabad high court rules. ..... that an intra-court appeal would lie against an order, the only issue is, whether considering that the companies act has only provided for an appeal under section 483 in a category of cases, that would oust the jurisdiction of the court in entertaining the appeal under other orders passed under the companies act, which may not be under sections 397 and 398 of the companies act. ..... the court noted the provisions of the companies act, the amendment in the companies act in section 483 and then observed that where appeal has been decided from an original order by a single judge, no further appeal has been provided and that power which used to be there under the letters ..... high court held that the provisions of sica have overriding effect on other acts, which would include the companies act, 1956. ..... was issued by the governor-general under section 229 of the government of india act, 1935. 12. ..... general hospital ..... deciding the petition is generally a judgment. .....

Bank of Rajasthan Limited Vs. State of Bihar and anr.

Court : Patna

..... 437 of 1997, under section 113(2) of the companies act, 1956, now pending before the judicial magistrate, first class, ranchi. 2 ..... from a perusal of the definition of court as defined under section 2(11) of the act read with section 10e of the companies act, it is manifest that irrespective of any matter relating to company other than any offence against this act, the court constituted and vested with the power under section 10e shall have the jurisdiction to decide and adjudicate the matter relating to company. ..... it is alleged that the limitation of time for issuing such certificate as has been prescribed under section 113 of the companies act, is two months after the date of application for registration of the transfer of shares. ..... term 'court' has been defined under section 2(11) of the companies act. ..... in this connection learned counsel referred to sections 10e and 10f of the companies act. ..... learned counsel submitted that the criminal court has no jurisdiction to entertain a complaint for the offence under section 113(2) of the companies act. ..... thereafter the complainant was examined and then summons was issued to the accused persons for answering the charge punishable under section 113(2) of the companies act. 4. mr. b.v. ..... been sent by the accused persons evidencing transfer of the shares in the name of the complainant nor has he received any reply in spite of reminders and, thereby the accused persons have committed an offence as prescribed under section 113(2) of the companies act. 3. .....

Official Liquidator, Nagpur Glass Works Ltd. Vs. (In Liquidation) V.D. ...

Court : Mumbai

Reported in : (1971)73BOMLR333; [1971]41CompCas524(Bom); 1970MhLJ686

..... pestonjee jamasjee padshah it was held in respect of section 214 of the indian companies act, 1882, which corresponded to section 235 of the indian companies act, 1913, and now corresponds to section 543 of the companies act, 1956, that section 214 of the indian companies act, 1882, gave no new rights but simply provided a summary mode of enforcing rights which must otherwise have been ..... lord justice bowen had described the power under section 115 of the english companies act, 1862, which corresponds to section 477 of the companies act, 1956, as inquisitorial power in in re north australian ..... 88) on the question relating to examination of officers of the company or other persons are substantially the same as section 477 of the indian companies act, 1956, and the principles laid down by the superior courts in england, which have been assimilated in the practice of company winding up by the court in india are useful in determining the nature ..... a company, unless the contrary is established, must under section 477 of the companies act, 1956, be always deemed a person who will be in a position to furnish information, inter alia, about his conduct with regard to the management of the company and concerning its trade, dealings, property, books or affairs of the company. ..... held that the fact that a misfeasance summons is taken out against a person under section 543 of the companies act, 1956, which is pending, does not prevent private examination of such person under section 477 of the act. .....

Dy. Cit Vs. U.P. Straw and Agro Products Ltd.

Court : Delhi

Reported in : [2001]79ITD372(Delhi)

..... for the purposes of section 115-j, book profit will be the net profit as shown in the profit and loss account prepared in accordance with the provisions of the vith schedule to the companies act, 1956 after certain adjustments.11. ..... he made a reference to section 205(1)(b) of the companies act, 1956. ..... shri malik also read out the provisions of section 205(1)(a) of the companies act, 1956.9. ..... our attention was also invited on the provisions of section 205(1)(a) of the companies act, 1956. ..... the assessing officer found that the profit and loss account of the assessed for the relevant previous year was not in accordance with the provisions of parts ii & iii of schedule vi to the companies act, 1956, in as much as the assessed debited arrears of depreciation to the extent of rs. ..... the profits were computed in accordance with the provisions of parts ii & iii of schedule vi to the companies act, 1956. ..... the explanationn to sub-section (1) of section 115-j gives the definition of the 'book profit' by the incorporating the requirement of section 205 of the companies act in the computation of the book profit. ..... reference was made to the provisions of section 205 of the companies act which prescribed that past losses or unabsorbed depreciation, whichever is less, are allowed to be set off against the book profits of the current year for determining profits for the purpose of declaring dividend. .....

Shiromani Sugar Mills, Ltd., in Liquidation, (Through J.C. Mukerji and ...

Court : Allahabad

Reported in : AIR1945All354

..... with deference we must say that we cannot see the justification for placing so restricted a general definition on the words 'suit, or other legal proceedings' in section 171, companies act, as to confine them to ' proceedings ejusdem generis' (with a suit) that is to say, original proceedings in a court of first instance, analogous to ..... the final question whether a revenue proceeding taken in pursuance of section 46, income-tax act, 1922, is an 'other legal proceeding' at all within the meaning, of section 171, companies act, we are unable to hold that the assessment of 25th february 1943, constitutes a debt which is protected from the general scheme for the distribution of the assets in the winding ..... of jurisdiction, the proceedings in pursuance of section 46, income-tax act, are still in accordance with the law for the time being in force, notwithstanding the winding up of the company, on the ground that neither the general prerogative of the crown to prefer its own debt to the debt of the subject, nor its particular rights under section 46 have been taken away by anything in the companies act, 1913. ..... so, it would lead to the extraordinary conclusion that, if the winding up jurisdiction of this court had been conferred under section 3, companies act, on the district court of cawnpore that court as a winding up court, could decide whether the income tax department was acting in the matter of the collection of the tax in accordance with the law for the time being in force, whereas .....