Judgment Search Results Home > Cases Phrase: companies act 2013 section 292 exercise and control of company liquidator s powers Court: delhi Page 1 of about 13 results (0.195 seconds)

Neeraj Singal vs.union of India and Ors.

Court : Delhi

..... the special judge then noted: in view of this, while exercising powers u/s 167 cr pc r/w/s 436 (1) (c) of the companies act 2013, judicial custody of the accused is extended for 14 days i.e. ..... it is submitted that the arrest in this case is in exercise of the powers of the sfio under section 212(8) companies act and therefore, the custody of the... ..... petitioner and one other person in exercise of the powers under section 212(8) companies act. ..... petitioner appeared to have committed offences punishable under section 447 of companies act 2013 , the... ..... the special judge too noted that he was exercising his powers under section 167 cr pc read with section 436 (1) (c) of the companies act. ..... this investigation was pursuant to an order dated 3rd may 2016 issued by the ministry of corporate affairs ( mca ), government of india under section 212 (1) (c) of the companies act, 2013 ( companies act ) which directed investigation into not only the affairs of bsl and bspl but thirteen other group companies, twelve of bspl and one of bsl. ..... petitioner, in his individual capacity, without proceeding against the companies he was promoter of or was controlling, is not illegal since the definition of fraud in terms of the explanation to section 447 of the companies act contemplates any person committing such fraud against a company. ..... (crl) 2453/2018 page 23 of 35 and any ongoing investigation of proceeding initiated by the government and statutory authorities against the company facing liquidation. .....

Prem Kumar Aggarwal vs.serious Fraud Investigation Office

Court : Delhi

..... asj/special judge (companies act) had taken cognizance of the offences mentioned in the said complaint and directed issuance of summons for the offences under section 128, 129, 447, 448 of the companies act, 2013, section 209, 211 read with 628 of the companies act, 1956, and section 467, 468, 471 read with section 120-b ipc. ..... asj/special judge (companies act), dwarka courts, new delhi for offences under section 36(c), 89,90,128,129, 229, 447, 448 of the companies act, 2013, sections 209, 211 read with 628 of the companies act, 1956, and sections 409,467,468,471 read with 120-b of the indian penal code, 1860.2. ..... has been filed against the petitioner for the offences punishable under section 128, 129, 447, 448 of the companies act, 2013, section 209, 211 read with 628 of the companies act, 1956, and section 467, 468, 471 read with section 120-b ipc. ld. ..... stated above, the offences alleged in the said complaint against the petitioner are under section 128, 129, 447, 448 of the companies act, 2013, section 209, 211 read with 628 of the companies act, 1956, and section 467, 468, 471 read with section 120-b ipc. ..... counsel that twin conditions for grant of bail described under section 212(6) of the companies act, 2013 are not applicable for the purpose of adjudication of the anticipatory ..... it is a settled law that section 438 crpc being an extraordinary remedy has to be exercised sparingly and more so in cases of economic offences as these offences affect the economic fiber of the .....

Ashapura Minechem Ltd. Vs.union of India and Ors.

Court : Delhi

..... (c) 9674/2017 page 6 of 37 2003 and omission of sections 253 to 269 of the companies act, 2013; now, therefore, in exercise of the powers conferred by the sub-section (1) of the section 242 of the insolvency and bankruptcy code, 2016 (31 of 2016), the central government hereby makes the following order to remove the above said difficulties, namely:-"1. ..... 5 of 37 and, whereas, section 424d of the companies act, 1956 provided for review or monitoring of schemes that are sanctioned or are under implementation; and, whereas the companies act, 1956 has been repealed are re-enacted as the companies act, 2013 (18 of 2013) which, inter alia, provides for scheme of revival and rehabilitation, sanction of scheme, scheme to be binding and for the implementation of scheme under section 261 to 264 of the companies act, 2013; and, whereas, sections 253 to 269 of the companies act, 2013 have been omitted by eleventh schedule to the insolvency and bankruptcy code, 2016; and, whereas, clause (b) of section ..... liquidation of and their companies is handled by individual the high courts. w.p. ..... the code seeks to provide for designating the nclt and drt as the adjudicating authorities for corporate persons and firms and individuals, respectively, for resolution of insolvency, liquidation and bankruptcy. ..... insolvency professionals will assist in completion of insolvency resolution, liquidation and the code. .....

M/S Atv Projects (India) Ltd vs.union of India & Ors.

Court : Delhi

..... , difficulties have arisen regarding review or monitoring of the schemes sanctioned under sub-section (4) or any scheme under implementation under sub-section (12) of section 18 of the sick industrial companies (special provisions) act, 1985 (1 of 1986) in view of the repeal of the sick industrial companies (special provisions) repeal act, 2003 and omission of sections 253 to 269 of the companies act, 2013; the section 242 of now, therefore, in exercise of the powers conferred by the sub-section (1) of the insolvency and bankruptcy code, 2016 (31 of 2016), the central government hereby makes the following order ..... provisions contained in part via of the companies act, 1956; and, whereas, section 424d of the companies act, 1956 provided for review or monitoring of schemes that are sanctioned or are under implementation; and, whereas the companies act, 1956 has been repealed are re-enacted as the companies act, 2013 (18 of 2013) which, inter alia, provides for scheme of revival and rehabilitation, sanction of scheme, scheme to be binding and for the implementation of scheme under section 261 to 264 of the companies act, 2013; and, whereas, sections 253 to 269 of the companies act, 2013 have been omitted by eleventh schedule to the .....

Laguna Holdings Pvt. Ltd. and ors Vs. Eden Park Hotels Pvt. Ltd. and o ...

Court : Delhi

..... nageswara rao 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 the court with ..... reads as under:3a (ii) the parties agree that their rights and obligations in relation to the company including those in relation to (i) the shareholding in the capital of the company (ii) the operation, control and management of the company, and (iii) exercise of rights by the party in relation to their respective shareholding in the company shall be interpreted, acted upon and governed in accordance with the terms and conditions of the agreement it is agreed that as between the parties, the agreement shall prevail and have an overriding effect in so far as the contractual relationship between ..... davender kumar mittal & others 2001 (107) comp cas 527 in this context had noted as under:admission of a petition under section 433 of the act has very wide and serious ramifications including appointment of provisional liquidator, publication of citation etc. .....

Kamla Luthra vs.serious Fraud Investigation Office

Court : Delhi

..... a complaint has been filed against the petitioner for the offences punishable under section 447 of the companies act, 2013. ld. ..... asj/special 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. ..... (crl) no.3175/2019 page 5 of 11 it appears from the record that when the process server visited the petitioner s residence, he was informed by the security guard that the petitioner was not in town and therefore, the petitioner was not served with the summons issued against him directing him to appear before the special court on 14.10.2019.8. ..... the petitioner was intimated about the pendency of the complaint and issuance of summons for 14.10.2019 by one of the co-accused and on becoming aware about the same, the petitioner through counsel inspected the court records pertaining to the compliant and immediately filed two applications viz an application for cancellation of nbws and another application under section 438 cr.p.c. ..... it is further submitted that in connection with the same complaint, this hon ble court has already granted protection to co- accused shri brij 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. .....

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

Court : Delhi

Reported in : [2001]79ITD372(Delhi)

..... the learned counsel, shri mehrotra, pointed out that the depreciation claimed by the assessed was computed in accordance with section 205(2) of the companies act and this fact was disclosed by way of a note in accordance with the provisions of the companies act. ..... 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. ..... 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. ..... 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. ..... it is beyond the powers of the assessing officer to tinker the book profits computed in accordance with the provisions of law. .....

Bakeman'S Industries PVT LMT Vs. New Cawnpore Floor Mills And Ors.

Court : Delhi

..... the matter, accordingly, is transferred to the learned company judge to continue the further proceedings and to pass appropriate orders in accordance with law.at this stage, counsel appearing for m/s sicom states that the power and right of m/s sicom under section 29 of the state financial corporation act is an independent right which could be exercised by the said financial institution without any reference to the provisions of the companies act which is also so held in the decision of the supreme court in international coach builders ltd. v. ..... the right of a financial institution or of the recovery tribunal or that of a financial corporation or the court which has been approached under section 31 of the sfc act to sell the assets may not be taken away, but the same stands restricted by page 1045 the requirement of the official liquidator being associated with it, giving the company court the right to ensure that the distribution of the assets in terms of section 529a of the companies act takes place. ..... after all, the liquidator represents the entire body of creditors and also holds a right on behalf of the workers to have a distribution pari passu with the secured creditors and the duty for further distribution of the proceeds on the basis of the preferences contained in section 530 of the companies act under the directions of the company court. .....

Super Cassettes Industries Ltd Vs. Dy.Commissioner of Income Tax

Court : Delhi

..... is further stated in the counter-affidavit that the petitioner was required to provide depreciation under section 205 of the companies act and since it failed to do so it had suppressed material facts and in these circumstances the initiation of proceedings to reopen the assessment after the expiry of 4 years from the end of the relevant assessment year was permissible and in accordance with law. ..... it is submitted that section 205 of the companies act which provides for providing of depreciation before declaring dividend and under the aforesaid provision the companies are required not to distribute dividend without providing for ..... the aforesaid table it cannot be concluded, as now your are attempting to conclude, as a result of your change of opinion, that the rates of deprecation stated in the schedule xiv are statutory rate of deprecation under companies act and no balance sheet even for the purposes of section 115j(1a) can be prepared providing depreciation at per the schedule of deprecation under the income tax act. ..... the objections filed by the petitioner in the four writ petitions shall be disposed of by the assessing officer on or before 31st january, 2013 by appropriate orders passed in writing and those orders shall be served on the petitioner within reasonable time thereafter. ..... assessing officer also disallowed depreciation of `1,08,104/- claimed by the petitioner in respect of its building at bombay, which was held under power of attorney basis, without legal ownership. .....

In Re: Jvg Leasing (Securities and Finance) Ltd. and ors.

Court : Delhi

Reported in : [2008]144CompCas780(Delhi); (2006)2CompLJ242(Del); [2007]79SCL541(Delhi)

..... it was, thereforee, considered necessary to maintain necessary liquidity and for making it a statutory obligation to provide for this liquidity, companies (amendment) act, 1974 was enacted introducing section 58a and 58b of the companies act, 1956. ..... thereforee, once a company petition is filed, even under section 45mc of the rbi act, it was to be treated at par with any other winding up petition filed under the provisions of the companies act and once the provisions of the companies act relating to winding up of the company became applicable to such a petition, section 391 of the act was also attracted which enabled the propounder to come out with such a scheme.9. ..... to meet this situation and to prevent such unwanted growth of deposits outside the banking system, it was felt necessary to confer on the bank, being custodian to the monetary and credit system of the country, with necessary statutory powers enabling it to supervise, control and regulate deposits acceptance by such institutions. ..... : saroj g.poddar, (1996) 22 c.l.a.200, the court refused to sanction the proposed scheme after it was found that .the entire exercise undertaken by the sponsor with the support of the workers union was intended to acquire the land of the company for its exploitation. .....