Court : Karnataka
- 1 - CMP No.599 of 2022 and connected matters IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE30H DAY OF SEPTEMBER, 2022 BEFORE THE HON'BLE MR JUSTICE SURAJ GOVINDARAJ CIVIL MISC. PETITION No.599 OF2022C/W CIVIL MISC. PETITION NOS. 57/2022, 62/2022, 63/2022, 71/2022, 72/2022, 73/2022, 74/2022, 78/2022, 81/2022, 82/2022, 85/2022, 88/2022, 93/2022, 99/2022, 600/2022, 603/2022, 605/2022 AND6082022 CIVIL MISC. PETITION No.599 OF2022BETWEEN: CATERPILLAR FINANCIAL SERVICES INDIA PRIVATE LIMITED A COMPANY INCORPORATED AND REGISTERED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT:6. H FLOOR, TOWER B PRESTIGE SHANTINIKETAN THE BUSINESS PRECINCT, WHITEFIELD MAIN ROAD, BENGALURU, KARNATAKA-560 048. PETITIONER (BY SRI ABHINAV R., ADVOCATE FOR SRI THAKUR RISHABHA RAJ, ADVOCATE) AND:1. RADHESHYAM SINGH S/O SURESH SINGH, KAJUR, GAYA, BIHAR - 805131, PHONE No.8757775745.2. SITARAM SINGH S/O SURESH SINGH, KAJUR, GAYA, BIHAR 805131. RESPONDENTS (RESPONDENTS - SERVED) - 2 - CM...
Tag this Judgment!Court : Guwahati
J.N. Sarma, J. 1. These cases raise the question of legality, validity and constitutionality of Recovery of Debts Due to Banks and Financial Institution Act, 1993 (hereinafter called 'the Act'), and other actions related to the Debt Recovery Tribunal at Guwahati constituted under the Act ('Tribunal' hereinafter). 2. In all 350 cases were filed before the Debt Recovery Tribunal at Guwahati and out of such proceedings 211 writ petitions were filed before this court and stay was granted in those cases. There are some cases five in number arising out of cases filed by co-operative banks for recovery of their dues. The Debt Recovery Tribunal entertained them. The borrowers/ debtors have challenged this action on the ground that the Tribunal does not have the power to decide a suit filed by a co-operative bank, as the definition of 'bank' in the relevant Act does not cover a co-operative bank. These cases are separated from this bunch and they have been heard separately and separate judgm...
Tag this Judgment!Court : Kolkata
Reported in : [1973]43CompCas107(Cal)
Sankar Prasad Mitra, J.1. This is an application by the official liquidator of the Ballygunge Real Property & Building Society Ltd. (in liquidation) for an order that (a) leave be given to the applicant to continue the misfeasance proceedings against the heirs and legal representatives of the respondent No. 1, Dr. Sailendra Nath Sinha, since deceased, and (b) for substitution of the said heirs and legal representatives in the place and stead of the deceased and for other incidental and ancillary reliefs. The official liquidator instituted the misfeasance proceedings on the 2nd January, 1963, under Section 543(1) of the Companies Act, 1956, which runs thus :' Power of Court to assess damages against delinquent directors, etc.--(1) If in the course of winding up a company, it appears that any person who has taken part in the promotion or formation of the company, or any past or present director, managing agent, secretaries and treasurers, manager, liquidator or officer of the company-- (...
Tag this Judgment!Court : Andhra Pradesh
Reported in : AIR1995AP302
ORDERD.H. Nasir, J.1. The appellant, A.P. State Financial Corporation (for short 'the Corporation') in O.S. No. 18 of 1994 has challenged the order passed on 10-12-1993 by the learned single Judge (Sri S. Dasara-dharama Reddi, J.) of this Court in C.A. No. 122 of 1993 in R.C.C. No. 6 of 1991, by which the following conditions were imposed: 1. The petitioner should undertake to discharge its liability due to the workers, if any, under Section 529(A) of the Companies Act. 2. The petitioner shall intimate, at least 10 days in advances before the date fixed for receipt of tenders, to the Official Liquidator about the the proposed sale of the properties of the company, and 3. The petitioner shall also obtain the permission of the Court before finalising the tenders.2. C.A. No. 122 of 1993 was filed by the Corporation under Section 446 (I) of the Companies Act, 1956 read with Sections 29 and 46B of the State Financial Corporations Act, 1951 (for short 'the SFC Act') read with Rule 9 of the ...
Tag this Judgment!Court : Delhi
Reported in : [2008]144CompCas780(Delhi); (2006)2CompLJ242(Del); [2007]79SCL541(Delhi)
A.K. Sikri, J.1. Reserve Bank of India (in short the 'RBI') filed three winding up petitions against JVG Leasing Ltd. (CP No. 266/98), JVG Securities Ltd. (CP No. 267/98) and JVG Finance Ltd. (CP No. 265/98) seeking winding up of these companies under the provisions of Section 45MC of the Reserve Bank of India Act, 1934 (in short the 'RBI Act') read with Section 433 of the Companies Act. All the three companies (hereafter referred to as the 'Companies') were classified as Non-Banking Finance Companies (NBFC). As these companies were accepting fixed deposits and other borrowings from banks, corporate institutions and the public, in the year 1997 the Reserve Bank of India Act was amended, first by issuing Reserve Bank of India (Amendment Ordinance), 1997 which was replaced by Reserve Bank (Amendment) Act 1997 and Section 45-IA was introduced as per which, it became obligatory on the part of such NBFCs to obtain necessary license from the RBI in order to carry out/continue their non-banki...
Tag this Judgment!Court : Mumbai
Reported in : AIR1963Bom40; (1962)64BOMLR532
1. I am afraid this suit will have to be dismissed on the preliminary issue that is raised on behalf of the 1st defendant company in consequence of a notice given by it to the plaintiffs and the issue is as to whether this Court has Jurisdiction to entertain this suit, The reason why this is raised is that the subject-matter of the suit has been valued by the plaintiffs at R.s. 1,300/- and obviously, therefore, this Court will have no. jurisdiction to entertain this suit.2. The suit is filed by the plaintiffs for rectification of the register of members maintained by the 1st defendant company, alleging that the latter had wrongfully refused to register in their names certain shares in respect of which they had submitted to the company a duly completed transfer form. It is not necessary for me to set out the various allegations that have been made by the plaintiffs in the plaint in support of their contention that they are entitled to call upon the 1st defendant company to rectify the r...
Tag this Judgment!Court : Delhi
Reported in : [2009]176TAXMAN448(Delhi)
Rajiv Shakdher, J.1. The revenue has preferred an appeal under Section 260A of the Income-tax Act, 1961 (hereinafter referred to as the 'Act') against the judgment of the Income-tax Appellate Tribunal (hereinafter referred to as the 'Tribunal') passed in ITA No. 889/D/2004, in respect of, the assessment year 1990-91. The only issue raised by the revenue in the appeal, and which was considered by the Tribunal, in the impugned judgment was; whether the assessee could be permitted to deduct depreciation pertaining to the current year, amounting to Rs. 16,47,417, which is not, debited to the profit and loss account, while arriving at 'book profits' under Section 115J of the Act. Accordingly, by our order dated 28-11-2008, we had framed the following substantial question of law:Whether the Income-tax Appellate Tribunal was correct in law in allowing depreciation of Rs. 16,47,417 in computation of book profits under Section 115J, even though it was not debited in the profit and loss account,...
Tag this Judgment!Court : Kolkata
Reported in : AIR1969Cal158
P.N. Mookerjee, J.1. This Rule raises an important question.2. The point, which requires consideration in this case, is whether the executing court, before whom execution is pending, it having been transferred to that court by this Court, exercising Company jurisdiction, would have jurisdiction to entertain and decide a claim in relation to the said execution under Order 21 Rule 58 of the Code of Civil Procedure, in a case, where a banking company in liquidation is involved.3. The relevant facts lie within a short compass and are as follows:4. Opposite Party No. 1, Noakhall Union Bank Ltd., went into liquidation sometime in the year 1949 and winding up proceedings are still pending in this Court. In the meantime, it obtained a decree on May 13, 1953, in Suit No. 2650A/3 of 1950 from this Court on its original side for Rs. 4,100/- with costs against Opposite Party No. 2, Tulsi Charan Paul. This decree was, eventually, transferred for execution to Ali-pore. In course of this execution, w...
Tag this Judgment!Court : Delhi
Reported in : AIR1978Delhi169; [1978]48CompCas419(Delhi); 14(1979)DLT124; ILR1978Delhi267; 1978RLR137
Yogeshwar Dayal, J.1. Company Appeals Nos. 2, 3, 4 and 8 of 1969 have been placed before the Full Bench in view of the order of reference dated Oct. 17,1974 passed by S. N. Shankar and T.P.S. Chawla JJ.2. These appeals arise out of the order Dt. 4-2-1969 passed by the learned Company Judge (S. N. Andley, J. as his Lordship then was) in Company Petitions Nos. 70, 71, 68 and 69 of 1967 respectively.3. This order will dispose of all the four appeals as common question of law is involved.4. The facts of Company Petition 70 of 1967 alone are being stated here as they are sufficient to illustrate the common question of law arising in the aforesaid appeals.5. Majestic Finance Private Limited was ordered to be wound up by the order off the High Court of Punjab (Circuit Bench at Delhi) in Civil Original 31-D of 1964 by order dated 11-12-1964 passed by S. B. Capoor, J. The Official Liquidator filed a petition under S. 446(2)(b) of the Companies Act on 14-6-1967 for the recovery of Rs. 1,11,866.3...
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1960SC12; [1959]29CompCas367(SC); [1960]1SCR200
S.K. Das, J.1. These are seven appeals on behalf of different Banks working in this country, some incorporated in India and some outside India. It is necessary that we should very briefly state the background of the industrial dispute which has given rise to these appeals. It is now well-known that there was a sharp rise in the prices of commodities during and after World War No. II. This rise in prices very seriously affected salaried employees belonging to the middle class including such employees in the banking industry. In or about the year 1946 trade unions of bank employees presented demands for higher salaries and allowances and better conditions of service. In some cases notices of threatened strike were also served on the employers. The unrest became particularly acute in the provinces of Bombay, the United Provinces, and Bengal as they were then known. The local Governments of those provinces referred these industrial disputes for adjudication : this resulted in some regional...
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