Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 24 amendment of section 31 Court: company law board clb Page 3 of about 126 results (0.551 seconds)

Shri Kaikhosrou K. Framji Vs. Consulting Engineering Services

Court : Company Law Board CLB

Reported in : (2008)3CompLJ146

..... par to the directors of the company, by which the worth of cesim has come down. in view of these new allegations, when the petitioner sought to amend the petition to challenge the earlier allotments in both the companies as also the transfer of shares held by cesim, the parties had agreed to resolve the disputes ..... and that by allotting maximum number of shares to themselves at par, these respondents have enriched themselves. on this basis he has also alleged that the directors have acted in breach of their fiduciary responsibilities. to determine these allegations, the history of past allotments has to be looked into to find out whether the company has ..... issuing shares, the board of directors discharge fiduciary responsibilities and as such if the shares are issued with the sole objective of benefiting themselves, the same is an act of oppression. the supreme court has also held similarly in dale & carrington case.11. he further submitted: in so far as delay in the valuation is concerned .....

The Bank of Rajasthan Ltd. Vs. Rajasthan Breweries Ltd. and ors.

Court : Company Law Board CLB

Reported in : (2008)1CompLJ160

..... inspection and the scope of investigation is entirely different. inspection does preclude investigation. section 209a of the act has been introduced in the place of sub-section (4), clauses (b), (c)(d) of section 209 by companies amendment act (xli) of 1974) with effect from 1.1.1975 to strengthen the law suitably. inspection under ..... this section could not be effective unless the inspector is given power to compel production of books, and to examine on oath, etc., as an income tax officer has under section 131 of the income tax act. ..... investigation by going deep into the contents investigated. on the other hand inspection under section 209a only triggers investigation. violations of the provisions of the companies act inspected under section 209 a only strengthen the ground for investigation. investigation alone can reveal the true state of affairs. in fact, inspection under section 209a .....

Sh. Rajendra Kumar Tekriwal Vs. Unique Construction Pvt. Ltd. and

Court : Company Law Board CLB

..... the arguments of the counsel for the r-3 on merits are also considered.10. the petitioner's ca no. 433/07 seeking amendment to the memo of parties is hereby dismissed as not pressed.11. now, coming to the r-1 and r-2's recent ..... company application no 432/07 under section 8 of the arbitration and conciliation act, 1996 filed on 28.9.2007, to remove defect in their plea that matter be referred to the arbitration, to which the petitioner has objected as ..... however, appeal in the hon'ble high court of madhya pradesh, indore is pending; company law board's interim order dated 2.8,2007 was ex-parte, without notice, without hearing, without jurisdiction; the c.p. no.111/07 is not maintainable against r-3 and ..... 8. i have considered the pleadings and the arguments of the parties which were heard in compliance with the order dated 29.8.2007 of the hon'ble high court of gujarat at ahmedabad. however, the parties were unable to conclude their arguments within the scheduled time .....

Sh. Amrik Singh Hayer Vs. Hayar Estates Pvt. Ltd. and ors.

Court : Company Law Board CLB

..... of association and articles of association; (i) closing old bank account of the companies and opening new accounts. replying on the reply to the amended petition, it was reiterated that these acts were justified being consequential to the operation of the mou.24. replying to the petitioner's allegation regarding oppression and mismanagement, it was argued that ..... person recognized by the company as having any title to or interest in such shares. it was pointed out that the articles of association have not been amended and the existing shareholders had a right of pre-emption over the allotment of any new shares. it was contended that the petitioner continues to be a ..... order to make sure that investment of respondent no. 3 was safe, respondent no. 2 was retained. respondent no. 3 in the meeting held on 28.03.2007 was relieved of his responsibilities as a director.22. pointing to the malafide of the petitioner, shri singh argued that various technical pleas regarding notice have been raised .....

Pik Securities (P.) Ltd. Vs. United Western Bank Ltd.

Court : Company Law Board CLB

..... contained in article 46 are void as section 88 prohibits issue of shares with differential rights. it rnay be noted that this section has been omitted by amendment act, 2000). in the present case, the general body has approved the increase in the authorized capital and, therefore, there is compliance with this article. article ..... he decided to withdraw the resolution, he should have obtained the approval of the members before doing so. further, before the starling of the meeting, certain amendments were proposed in relation to the first resolution but nothing was said about the withdrawal of the fourth resolution. the withdrawal was only on account of the apprehension ..... shares are of the denomination of rs. 10 per share. the bank convened an extraordinary general meeting on 7-8-2000 to transact the businesses relating to amendment to articles, issue of bonus-cum-right shares. in all, there were 4 proposals to be considered as special resolutions.the second item was to increase the .....

V.S. Krishnan and ors. Vs. Westfort Hi-tech Hospital

Court : Company Law Board CLB

Reported in : (2007)136CompCas699

..... any disobedience to its requirements must lead to the nullification of the action taken by the member. the special resolution on further issue of shares cannot be amended at the meeting thereby approving the issuance of rights shares. the minutes do not show whether the resolution approving the issue of shares was moved as special ..... director related to his status as director and not as a shareholder, the petitioner would not be entitled for any relief under section 210 of the companies act. (english companies act) re bellador silk ltd (1965) 1 all e.r. 667 - to show that the presentation of the petition in order to bring pressure for ..... (i) irregularities in relation to the investigation center in the hospital premises of the company etc.. invoked the provisions of sections 397 and 398 of the companies act. 1956 ("the act") seeking the following reliefs: b) leasing/licensing the area earmarked for the investigation centre: and c) realizing the outstanding amounts due from the respondent nos. .....

C.G. Holdings Private Limited and Vs. Cheran Enterprises Private Ltd.

Court : Company Law Board CLB

Reported in : (2007)75SCL534

..... the interests of the company.3. i have considered the arguments advanced for the parties. the issue that arises for my consideration is whether the prayer for amendment of the company petition is justified in the facts and circumstances of the present case. while the petitioners seek to implead oarc, being proper and necessary party to ..... of the company so as to invoke the jurisdiction of section 397/398. there are no pleadings either in the petition or the proposed amendments that oarc is in any way responsible for any acts of oppression or mismanagement. this defect can neither be cured nor the lacuna filled up by other evidence, oral or documentary. o ..... this fundamental term of the jv agreement by the second respondent and oarc, the company could not carry on any business. it has, therefore, become necessary to amend the company petition to implead oarc, as the sixth respondent to the present proceedings. o the second respondent is a mere investment vehicle of oarc and in reality .....

G.L. Dalmia and ors. Vs. Bateli Tea Company Limited,

Court : Company Law Board CLB

Reported in : (2007)1CompLJ450

..... the records of the company from the first floor wherein the registered office is located to the 3rd floor. in addition, the petitioners have also started a competitive business in the same location where belgachi and new terai gardens are located. when the petitioners paid rs. 5 lacs for clearing pf dues of belgachi, ..... questioned. in so far as establishment of ground for just and equitable ground is concerned, it is evident from section 397(2)(a) of the act that once act of oppression is established, the consequence is that the company has to be wound of on just and equitable grounds and that such winding up would ..... 399 providing for certain numerical or shareholding strength is to prevent disgruntled shareholders with insignificant shares from invoking the beneficial provisions of section 397/398 claiming to act in a representative capacity and not with a view to prevent voicing against genuine grievances of oppression and mismanagement. therefore technicalities relating to proper format of .....

M. Thimme Gowda and ors. Vs. Spr Sugars Private Limited, K.M.

Court : Company Law Board CLB

Reported in : (2008)142CompCas152

..... as to allow the passing of special resolutions in respect of the matters specified supra and that the articles of association of the company shall accordingly be amended. any grievance in connection with convening of an extra ordinary general meeting arising out of the contractual obligations covered under the spa including d.k. group ..... petitioner and idbi nominee, it was resolved to convene an extra ordinary general meeting of the company on 29.09.2005, for passing necessary special resolution to amend the articles of association, in terms of the spa. the board resolutions passed at the above board meetings clearly recognised the entitlement of respondents 2 & 3 ..... and would have no say in the running of the company and further provides that the articles of association would be amended restricting the rights of the petitioners, in accordance with section 106 of the act. d.k. group and petitioners would furnish guarantee in proportion to their share holding in the company and therefore, .....

Aidqua Holding (Mauritius) Inc. Vs. Tamil Nadu Water Investmant

Court : Company Law Board CLB

Reported in : (2008)142CompCas497

..... the specific stand of the applicant's nominee is that the board meeting at tirupur has been convened in violation of article 190. the beleted amendment to the minutes dated 27.04.2007, in my view, is perhaps to circumvent the strong objections consistently being raised by the applicant's nominee that no decision was taken by ..... the board of directors on the venue of the next board meeting on 27.07.2007. section 193(1) of the act mandates that every company shall cause minutes of all proceedings of every meeting of its board of directors to be kept by making within thirty ..... company. m/s gopal & murthy, chartered accountants are the statutory auditors of the company, which is not however under dispute. in this connection, section 224 of the act, dealing with appointment and remuneration of auditors assumes relevance, according to which every company shall, at each annual general meeting, appoint an auditor or auditors (emphasis supplied) to .....