Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 24 amendment of section 31 Sorted by: recent Court: company law board clb Page 10 of about 126 results (0.151 seconds)

Trade Links Ltd. and ors. Vs. Mount Shivalik Breweries Ltd. and

Court : Company Law Board CLB

Reported in : (1999)95CompCas150

..... such an interpretation would not serve the object and purpose of rectification provisions. shri ramachandran traced the history of the rectification provision up to the companies (amendment) act, 1988, under section 155 and later under section 111 and stated that it is an important power to maintain the purity of the register of members ..... has finally taken the present shape, namely, the depositories ordinance no. 4 (which was promulgated three times commencing from september, 1995), the depositories act, 1996, and the depositories (amendment) act, 1997.since the petition was filed on january 11, 1996, the law as it stood on that day has to be taken into the account ..... or records." 25. subsequent to the above ordinance on march 19, 1997, the amendments were legislated upon by both the houses of parliament and as such these amendments have also become part of the statute. the amendment act recognized the amendments with effect from january 15, 1997. thus we have the provisions of section 111a .....

All India Shaw Wallace Employees Vs. Shaw Wallace and Co. Ltd. and ors ...

Court : Company Law Board CLB

Reported in : (2000)102CompCas466

..... ; lending of money to subsidiaries without interest or waiving of interest, writing off huge amounts as bad debts, payment of unnecessary and exorbitant non-competition fee, exorbitant sales promotion expenses, unwarranted payments of consultancy and brokerage fee, etc. it is further alleged in the petition that due to its inability ..... satisfied that there were circumstances prevailing in the affairs of the company justifying appointment of government directors, that could do so. however, after the 1988 amendment, the central government can only make an application to the clb, seeking appointment of government directors and the clb, may, after making necessary enquiries, ..... on certain complaints made by the employees of the company on which the central government had earlier conducted an inspection under section 209a of the act. most of the allegations relate to financial transactions of various nature transacted by swc from 1990 onwards. these financial transactions, while according to the .....

Shree Cement Ltd. Vs. Power Grid Corporation Ltd. and

Court : Company Law Board CLB

Reported in : (1998)93CompCas854

..... of the procedure adopted in disposing of the petitions under that section. the apex court observed as follows (page 95): "now, under section 111 of the companies act as amended with effect from may 51, 1991, the company law board performs the functions that were theretofore performed by courts of civil judicature under section 155. it is empowered ..... which is to be kept in view is that the facility of section 111 is no longer available after september 20, 1995, in view of the amendment introduced by the depositories act, 1996, which was preceded by an ordinance in 1995. the ordinance however had no retrospective effect and as such resorting to section 111 of the ..... .however, it was only thereafter, that the petitioner chose to file the present petition in 1994. again it was the respondent who had to point out the amendment in the torts by which civil jurisdiction was also vested in the special court. it was the petitioner which gave its unqualified consent that the special court has .....

T.N.K. Govindaraju Chetty and Co. Vs. Kadri Mills (Cbe) Limited and or ...

Court : Company Law Board CLB

Reported in : (1999)96CompCas871

..... respect of the consent letters enclosed with the second petition. we also note the objection of counsel for the respondents, that with the amendments to section 111, brought through the depositories act, no matters other than transfer matters could be adjudicated by the company law board under section 111a. this objection has no relevance, ..... petitioners wrote to the company, with a copy to the registrar of companies, lodging their protest to the resolutions relating to the private placement and the amendment to the articles of association and consequent issue of convertible warrants to the promoters' group and, therefore, advised the company to drop these three proposals. in ..... the annual general meeting, the ninth petitioner gave a note to the chairman of the meeting suggesting that the resolution relating to the preferential allotment be amended to provide for pricing the issue at the market value, as per the recent guidelines issued by the reserve bank of india and the finance ministry. .....

Subhash Chand Agarwal and anr. Vs. Associated Limestone Ltd. and

Court : Company Law Board CLB

Reported in : (1998)92CompCas525

..... offshore suppliers and services ltd. [1992] 75,comp cas 583 (bom) and krishnanand agnihotri v. state of madhya pradesh, air 28. as regards the subsequent acts which form part of the amended petition, the following cases were cited : shanti prasadjain v. kalinga tubes ltd. [1965] 35 comp cas 351 (sc); palghat exports pvt. ltd, v. ..... shri mehta filed a catena of cases.27. apart from the above preliminary contentions, shri mehta also challenged the petition, in particular the amended petition, which deals with subsequent acts which have no linkage with the allegations in the main petition. he also further contended that the allegations in the petition are vague and ..... of a non-existing mole-hill and his basic nature of complaining perpetually he should not be allowed to act as a director.finally, the respondents have prayed for outright rejection of the amendment application as well as the original company petition on the basis of preliminary objections raised by the answering respondents .....

Shashi Prakash Khemka and ors. Vs. Nepc Micon Ltd.

Court : Company Law Board CLB

..... essential for us to recapitulate the position obtaining before the ordinance came into being.29. section 111 was recast by the companies (amendment) act, 1988, and came into effect from may 31, 1991. before the amendment, the provisions of this section were contained in two sections, namely, section 111 and section 155. while the provisions relating to ..... with the petition.24. when we asked him as to what would be the effect of the new amendments to section 111a on this petition, he submitted that in the absence of specific mention in the amendment act, the new provisions will have only prospective application and as such the instant petition cannot be saved before ..... , therefore, the proceedings before the munsif were with jurisdiction because they were not affected by the passing of the abolition act or the amending act 1953, regard being had to the provisions of section 6 of the u. p. general clauses act, in the first instance and more so in view of the provisions of section 23 of the .....

Dr. G.N. Byra Reddy and ors. Vs. Arathi Cine Enterprises Pvt. Ltd.

Court : Company Law Board CLB

Reported in : (1997)89CompCas745

..... by some of the members, directing respondents nos. 3 to 6 to rectify the register of members, the petitioners have approached this bench under the amended provisions of section 111 of the act for rectification of the register in respect of the impugned shares.5. according to respondents nos. 3 to 6, the petitioners have sold their shares to ..... is barred by limitation. as the company law board is a court for deciding the petition under section 111, the provisions of the limitation act would apply.7. the amendment to section 111 of the act conferring jurisdiction on the company law board took effect on may 31, 1991, till which time the high court of karnataka alone had the ..... not applicable to proceedings before the company law board and if a right to sue had become barred by the provisions of the limitation act then in force on the date of a new act or amendment, such a barred right is not revived by application of a new enactment. for this he relied on km, kr. kr. ramanathan chettiar .....

In Re: Thapar Agro Mills Ltd.

Court : Company Law Board CLB

Reported in : (1998)93CompCas170

..... was not followed by a specific penal clause. consequently, the penalty shall be the general penalty as prescribed under section 629a of the act.9. in addition to sub-section (3a), the amendment act, 1988 , also introduced sub-sections (9) and (10) to empower the company law board to take cognizance of any case of ..... serious lacuna and recommended suitable provision to take care of such a situation". thereafter, the companies (amendment) act, 1988, introduced sub-section (3a) to provide that "every deposit accepted by a company after the commencement of the companies (amendment) act, 1988, shall unless renewed be repaid in accordance with the terms and conditions of such deposits ..... , raised. as such, conclusions could be drawn based on the company's own financial position in isolation.8. section 58a was introduced in the companies act in 1974, as a measure of protecting the interest of the public depositors. the provisions, as introduced in 1974, were more oriented towards regulating the .....

Hemangini Finance and Leasing Vs. Tamilnad Mercantile Bank Ltd. and

Court : Company Law Board CLB

Reported in : (1996)86CompCas875

..... of the share does not commend itself to us. the words 'or otherwise' were inserted in sub-section (2) of section 111 of the act in 1960, and it is this sub-section so amended which is applicable to the facts of the instant case. sub-section (2) of section 111 does not confer any right but only casts a ..... for the first time, the provision relating to refusal of transfer of shares was inserted in the 1956 act, and, consequently, regulation 20 of the 1913 act has also been amended to read as regulation 21 with certain changes. perhaps there had been certain amendments to the articles of the company later, to fall in line with regulation 21 of table a of ..... the 1956 act. regulation 21 of table 'a' reads as follows : "the board may, subject to the right of an appeal conferred by section 111, decline to register : (a) .....

Padma Taparia Vs. Assam Brook Ltd. and ors.

Court : Company Law Board CLB

Reported in : (1997)88CompCas838

..... to "situations" in which a reference could be made by the central government as well. in our view, this is the most appropriate interpretation of the amendment in 1988. according to shri salve, the legislature has conferred on the company law board inquisitorial jurisdiction to prevent such situation as contemplated in sections 247 to ..... specified in the order".22. going through the history of this section , it is found that the powers of the central government were widened by the amendment in 1960 with the use of the words "or otherwise" which means that the central government had a very wide field to impose restrictions so long ..... important factors, namely : (a) these are enabling provisions conferring inquisitorial powers on the company law board to act in public interest and should, therefore, not be construed narrowly and pedantically ; (b) the provisions have undergone amendments and hence they cannot to be understood as being limited to their original context ; and (c) the overall .....