Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 24 amendment of section 31 Court: company law board clb Page 6 of about 126 results (0.162 seconds)

Pearson Education Inc. (Formerly Vs. Prentice-hall of India Pvt. Ltd.,

Court : Company Law Board CLB

Reported in : (2004)56SCL365

..... proceedings indicate that they are not willing to associate the petitioner with the management of the company for the reason that the petitioner is having its own business in competition with that of the company and as such the petitioner has lost its right to appoint its and appointing its nominee on the board would result in conflict of ..... on the board even in the recent past. even otherwise, the petitioner has lost its right of appointing its nominee as it has started its own parallel business in competition with the company and as such if its nominee are appointed, they would use the company information for the benefit of their own business which would not be in ..... issues further shares with the view to reduce the shareholding of another member below 25 %, then it is an act of oppression. once the petitioner's holding is reduced to below 25%, the 2^nd respondent would be able to amend the article of association of the company as simultaneously his shareholding has gone up over 80%. in b.m. .....

R. Balakrishnan and ors. Vs. Vijay Dairy and Farm Products

Court : Company Law Board CLB

Reported in : (2005)125CompCas661

..... 03.2004. though the first petitioner along with his father and other relatives has incorporated a new company on 22.12.2003, yet never commenced any business in competition with the company in tune with the agreement dated 24.10.2003. the second respondent refused to settle the balance of consideration of rs. 85 lakhs and excluded ..... the matters complained of in the company petition can be brought to an end with the reliefs claimed by the petitioners which are as under: - (a) to amend the articles of association of the company to ensure that the petitioners would be entitled to proportionate voting rights in the general meeting of the company and to have ..... to resign from the board which led to his removal from the post of director by the respondents in accordance with the agreement. o the petitioners further started acting detrimental to the interest of the company by commencing similar business carried on by the company in violation of the terms of the settlement agreement, thereby liable to .....

Krishna Paul Vs. Calcutta Chemical Co. Ltd.

Court : Company Law Board CLB

Reported in : (2002)110CompCas336

..... ram manohar lal v. national building material supply, gurgaon, air 1969 sc 1267, wherein the court held that leave to amend pleadings should be given unless the court is satisfied that the party applying was acting mala fide. according to shri sarkar, the second petition consists of certain subsequent events after filing of the first petition, ..... petitions, that the acquisition of controlling interest by henkel is against the interest of ccl but he is only questioning the allocation made towards distribution rights/non-competition. as such, according to shri sen, the petition has been filed for collateral purpose to bring pressure on henkel to agree for a higher price for ..... been able to find fault with the valuation done for the shares. he also submitted that if henkel has to pay a large amount towards the non-competition agreement together with distribution agreement, assuming that the distribution agreement is not transferable as contended by shri sarkar, it is henkel which is going to be .....

Ultrafilter (India) Private Vs. Ultrafilter Gmbh

Court : Company Law Board CLB

Reported in : (2002)112CompCas93

..... has been filed by the petitioner seeking to restrain the respondent from interfering with the affairs of the company, restraining the respondent from any act which would be in competition directly or indirectly with the business of the company, restraining the respondents for claiming any right or do any business in india under ..... between the parties at annexure a-4 is styled as 'shareholders partnership agreement'. a reference to annexure r-13 would indicate that even while considering amendment to the articles, the stand taken by the respondent was that its interest should be protected as a partner in the joint venture company. all ..... into a 'name protection agreement' a 'distributor agreement', a 'trade mark registered user agreement' it also provided for amendment to the articles of the company. pursuant to this agreement, articles were amended providing for requirement of special resolution on certain matters, appointment of one-third of the directors by the respondent, requirement .....

Abp Private Limited, Manipal Vs. United News of India (Uni) and ors.

Court : Company Law Board CLB

Reported in : (2008)142CompCas688

..... and there could be no single majority with management control. it is to be noted that this company was incorporated by persons with similar businesses and in with competition with each other, yet, they started the company in a formal form. clause 3 of the memorandum of uni permits the company to publish newspaper which means ..... media west owns a visual media and the second is, even it does, since the article restricts the eligibility only to owners of newspaper, until the articles are amended, no one else can be admitted as a member. shri mookherjee pointed that even at present, there are members in uni who are not owners of news papers ..... held that the impugned allotment, even though it was against the provisions of the act, could not be considered to be illegal or an act of oppression.kaikhosrou k. framji consulting engineering services (india) limited and ors. cp no. 97/1997 order dated 14.3.2007 shri dave cited the judgment of delhi high court in delhi & district cricket association .....

In Re: Firebricks and Potteries

Court : Company Law Board CLB

Reported in : (2008)145CompCas106

..... conversion of 32500 rcps into equity shares be null and void for the reasons elaborated therein, upon which the petitioner was permitted by an order dated 12.01.2007 to amend the company petition in terms of the prayer made in c.a. no. 215 of 2006. the present sequence of events would show that the issue as ..... before me is whether the petitioner does qualify under section 399 to invoke the equitable jurisdiction of the company law board under section 397/398 of the act for the alleged acts of oppression and mismanagement in the affairs of the company. towards this end, it shall be seen whether the petitioner has fulfilled the minimum qualification, which ..... held by him, which is contrary to the materials on record.sangramsinh p. gaekwad v. shantadevi p. gaekwad larger interest of the company; and (b) directors have acted in good faith, without misusing the fiduciary duties and without any ulterior motive on their pail, the decision to issue shares cannot be struck down on the ground that it .....

Bhadresh Kantilal Shah Vs. Magotteaux International and

Court : Company Law Board CLB

Reported in : (2002)111CompCas220

..... [1984] 4 scc 679 ; air 1985 1156 at para. 51, shri diwan submitted that the supreme court, in interpreting section 3 of the foreign awards act as amended by act 47 of 1973 has held that it is the obligation of the court to stay the legal proceedings commenced by a party to a foreign arbitration agreement. in ..... the groups on certain matters. some of the terms of the jva were to be incorporated in the articles of the company. all these agreements, except the non-competition agreement, provided for arbitration more or less in the following terms : "notwithstanding clause . .. . any dispute, controversy claim arising out of or relating to this agreement ..... and the company and a sole distributor agreement between the second respondent and the company were entered into and were annexed to the jva. later, a non-competition agreement was entered into between the first respondent, the tenth respondent and the petitioner. a technical collaboration agreement was entered into on july 1, 1994, between .....

Aes Opgc Holding (Mauritius) and Vs. Orissa Power Generation

Court : Company Law Board CLB

Reported in : (2005)125CompCas299

..... policy of reform in the power sector, the orissa government decided to divest 49% shares in the company in favour of a strategic partner through international competitive bidding. by a detailed shareholders agreement between the government of orissa and aes corporation, delaware, usa, 41% shares were transferred to the petitioners and ..... managing director had been exercising commercial and financial powers. they have cited the instances of the managing director invoking arbitration, issuing of a circular relating to amendment of ta rules, etc., forgetting that this bench had already stayed the circular resolution relating to restraining managing director, in its order dated 13.11 ..... powers subject to the superintendence, control and direction of the board." 31.1 the amended article, while providing that the managing director shall be in charge of all day-to-day affairs of the company and shall act under the superintendence, has omitted the words 'control and direction of the board'. the .....

Shri Jai Pal Saini Vs. Mex Switch Gears Pvt. Ltd., Shri

Court : Company Law Board CLB

Reported in : (2006)134CompCas428

..... correspondences relied on the respondents in this connection are correspondence with the suppliers of raw materials and not with the customers of the company. therefore, his starting a competitive business is of no consequence as far as granting of relief when it has been established that he has suffered oppression at the hands of the respondents. i have ..... body meeting held on 31.10.2003. therefore, considering the fact that not only when he was a director in the company he acted against its interest, even after removal he has been carrying on a competitive business, the question of his re-instatement as a director does not arise.8. the learned counsel further submitted: even after filing ..... rs. 500/-in respect of board meetings and rs. 250/- in respect of general meetings.on 30.8.2003, the 2nd respondent sent a letter seeking to make amendments to the allotment of shares proposed in the earlier letter dated 26.8.2003. no board meeting was held on 30.8.2003 for making changes in the allotment .....

In Re: Gees Marine Products

Court : Company Law Board CLB

..... family concern, with family members as shareholders. the shareholders including the petitioners decided that it would be better to operate the vessels individually for better performance, maintenance and competition so as to benefit the company with good profit. the petitioners never objected to the mou, which came to be entered into with the knowledge of the fourth ..... impleaded as a party to the proceedings. mr. griffin kagoo, a chartered accountant, was to be in charge of the statutory requirements like income tax, companies act and other acts applicable to the industry, while the second respondent has been in charge of the operation mfv superna any mfv michel. the mou of august 1999, referred to ..... members. in this connection beneficial reference is invited to a judgement of the delhi high court in pearson education inc. v. prentice hall india private limited (2007) 136 cc 294 wherein it has been held that once oppression is established, reliefs could be granted under section 402 of the .....