Court : Punjab and Haryana
Reported in : AIR1956P& H210
..... language of sections 137 and 141, indian companies act, which sections, however, deal with an entirely different matter. in air 1948 cal 42 (e) it was made quite clear that there was no regulation made in bengal ..... that the proceedings pending in the court ol the learned magistrate be quashed.khosla, j.a criminal complaint by the respondent massey was filed under sections 31, 31a and 36, indian companies act against the all india anglo-indian association, its president frank anthony and its secretary g. w. russel. a preliminary objection to this complaint was ..... as bhagirath chandra v. emperor, air 1948 cal 42 (e). neither decision is, however, of any assistance, because it appears that in bengal no regulation under section 248, indian companies act, has been framed, in connection with such a matter.in ilr (1940) 1 cal 575 :- (air 1940 cal 232) (d) the argument rested on the .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1962P& H433; [1963]33CompCas1043(P& H)
..... desired to lead any further evidence they could do so, but no further evidence has been led in this case. (9) the present petition is now under section 543 of the companies act, 1956, on behalf of the first national bank limited, in liquidation, through the official liquidator and is against eight respondents. the first respondent was the manager ..... when such evidence as respondents nos. 2, 3 and 5 may wish to lead on their behalf with a view to meet the petitioner's case under section 543 of the companies act will be recorded. further arguments will be heard after the conclusion of the additional evidence of these three respondents. (on the application coming on for hearing ..... of the respondents. by way or abundant caution, i allow the official liquidator to amend the plaint by indicating in the heading that it is also under section 543 of the indian companies act, 1956. the requisite court-fee may also be paid. (7) lest respondents nos. 2, 3 and 5 should feel that they have been prejudiced .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1956P& H1
..... it was also argued that investigation under the companies act can be made while the company is a going concern under section 137, companies act but once the company goes into liquidation then section 137 automatically ceases to be applicable and proceedings can be taken only under section 237, indian companies act. it was then argued that in any ..... such a possibility should not lead this court to prevent the police from making the necessary investigation, particularly if the investigators appointed under section 138, indian companies act, have already reported against the petitioners and others.7. the question that now remains to be considered is whether the questions of law ..... and, therefore, fit one for appeal. it is true that numberof questions of law have been argued in this caseinvolving construction of various sections of theindian companies act, criminal procedure codeand the indian penal code, but by itself this isnot sufficient, as conceded by the learned counsel for the petitioners, .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1961P& H87
..... 1956, under section 185 of the indian companies act; 2. c. o. 39 of 1956, under section 185 of the indian companies act; 3. c. o. 57 of 1956, under section 185 of the indian companies act; 4. c. o. 7 of 1957, under section 185 of the indian companies act; and 5. c. o. 81 of 1957, under sections 195/196 of the indian companies act. it was ..... for the official liquidator has frankly conceded that in view of the decision of the full bench, his petition is not maintainable under sections 436 and 438 read with section 647 of the companies act of 1956.9. the main controversy which emerges from the arguments of the learned counsel for the parties centres on the question, ..... :the district judge, delhi, sent a communication dated 9th of march, 1956, to the high court stating that in view of the provisions of section 10 of the companies act, 1956, if it was desired that the district judge, delhi, should have jurisdiction, the central government might be moved to issue the appropriate notification under .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1962P& H101; [1962]32CompCas125(P& H)
..... provisions of article 20(3) of the constitution of india, the respondent should not be examined till the criminal case pending against him is decided.(2) section 185 of the indian companies act, 1913 provides:-'185. power to require delivery of property--the court may, at any time after making a winding up order, require any contributory for ..... anyone, that he has committed an offence on the basis of the above reasoning mr. khanna argued, with some justification, that when an application under sec.185 of the indian companies act, 1913, is made, the respondent is not the accuser and there is no investigation as to the commission of any offence.the supreme court in ..... to my mind, is stretching the language of article 20(3) far beyond its legitimate scope.in view of the limited scope of the proceedings under sec.185 of the indian companies act, 1913, it cannot be said that in these proceedings the respondent is being prosecuted for commission of any offence. it cannot be argued, that the .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1961P& H550; [1961]31CompCas333(P& H)
..... am, therefore, satisfied that this court has jurisdiction to entertain the petition and to pass appropriate order in view of the provisions of section 392 of the companies act read with section 391.7. it is hardly necessary to point out that even if jurisdiction vested in the subordinate courts, this court had in exercise ..... winding up of the banking company'.5. section 45-k was omitted by section 31 of the banking companies (amendment) act (no. xxxiii of 1959). the reason for this omission is that section 392 of the companies act, 1956, had incorporated section 45-k of the banking companies act which is in ipsissima verba. this provision of the companies act was new and did ..... also maintains that the scheme of arrangement is an alternative mode of winding up and, therefore, such powers as the high court possesses under section 45-d of the banking companies act, 1949, will also entitle it to exercise the same powers for enforcement of the scheme of arrangement etc. he has rested his argument .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1986]59CompCas279(P& H)
..... this court. the learned judge, while dealing with the matter, observed as follows (p. 304):' the object of enacting section 38 of the indian companies act of 1913, which is analogous to section 155 of the companies act of 1956, was to provide a summary remedy in non-controversial matters or in matters where a quick decision was necessary ..... following preliminary issue :' whether the petition is liable to be dismissed as it involves disputed questions of fact which cannot be decided in summary proceedings under section 155 of the companies act, 1956 ?'9. before dealing with the factual aspect, it will be appropriate to deal with the legal position. in s. bhagat singh v. pier ..... ., as he then was, observed that the law seems to be well-settled that the remedy provided in section 155 of the companies act is summary. it can be invoked in non-controversial matters requiring quick decision. section 155 is not meant to be used for deciding disputes, requiring investigation. in the case of a dispute .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2005]124CompCas201(P& H); (2004)4CompLJ288(P& H); [2004]55SCL165(Punj& Har)
..... rules were framed. while determining the issue in hand, the apex court traced out the legislative history of the companies act, commencing from the enactment of the joint stock companies act of 1850, till the addition of section 58a to the companies act, 1956 [inserted through the companies (amendment) act, 1974]. the court also noticed the fact, that the government of india had appointed a committee in 1950, under ..... deposits maturing in a year the same would be deprivatory and therefore arbitrary.. . . but as noticed in the statement of objects and reasons while introducing the 1974 amendment act which incorporated section 58a in the companies act, it was designed to meet cases of abuse or distortion of system, which have, of late, assumed comparatively serious proportion, and stringent measure of control has become .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1950]18ITR951(P& H)
..... was that this court had no jurisdiction to issue an injunction at the stage that it did. he drew my attention to section 169 of the companies act and his submission was that this section applied at a stage previous to the winding-up order and is not applicable to a stage after the winding-up order is ..... allahabad high court restrained the income-tax officer and the collector from proceeding further, but left the income-tax officer free to make an application under section 171 of the companies act, with leave to proceed with such recovery, and an appeal was taken against that order to the federal court, and in appeal one of ..... this court will be exercising original jurisdiction when it exercised any powers under the companies act and i must, therefore, hold that under the companies act the jurisdiction this court exercises is original jurisdiction within the meaning of section 226 of the constitution act.the next question which arises is whether the determination of the amount of income- .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1954P& H21; [1954]24CompCas58(P& H)
..... 4-8-1950. in order to determine this a reference may here be made to certain provisions of the indian companies act and indian banking companies act.33. section 155, companies act prescribesthe mode of winding up as follows: '155(1) the winding up of a company may be either-(i) by the court; or (ii) voluntary; or (iii) subject to the supervision of the ..... and its interruption, and it was held that in computing the period of limitation if time expired within or after this perio_d of one year provided by section 45f, indian banking companies act that year should be excluded but where time has already run out before this period of one year there was no revival of the cause of action. ..... in the result i would hold that the suit when filed was within time and it is not necessary to discuss the other question raised, as to whether section 45a, banking companies act prohibits the institution of a suit in a court other than the high court. as the point is rather a novel one, i would leave the parties .....
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