Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 4 amendment of section 5 Court: company law board clb Page 13 of about 196 results (0.120 seconds)

Khounish Chowdhury Vs. Kero Rajendra Monolithics Ltd.

Court : Company Law Board CLB

..... to be 2 per cent, amounting to rs. 1 lakh indicating very clearly that the balance equity contribution has to come from indian promoters.further, when this approval was amended on 28-8-1991 by the govt. of india, the same percentage was kept intact except that the amount was increased to rs. 40 lakhs and rs. 5 lakhs ..... by the petitioner from kero gmbh in the company has been cancelled as the same was not in compliance with the provisions of section 108 of the companies act, 1956 ('the act'), that further shares to the extent of 5,83,937 shares had been issued to indian shareholders due to which the petitioners' holding in the company as ..... agreement, the respondents were to constitute the majority on the board and by appointing new directors, the respondents have gained majority and as such this cannot be an act of oppression against the petitioners.26.1 we have considered the pleadings and arguments of the counsel.before dealing with the merits, it is essential to narrate certain events .....

G. Venkitapathy Vs. Prakathi Spinners Private

Court : Company Law Board CLB

..... . a plain reading of section 3, in our view shows that a company cannot be incorporated as a private company after the commencement of the companies (amendment) act, 2000 unless its articles provide for the aforesaid prohibition. however, we find that no provision has been made in this behalf in respect of existing private ..... ramakrishnan, advocate appearing for the respondents 1 to 3, at the outset has raised the following preliminary objections:- (a) section 3(iii)(d) of the companies amendment act, 2001 which has come into effect from 14^th december, 2000 prohibits a private company from inviting or accepting deposits from persons other than its members, directors ..... january, 1995 as a private limited company within the meaning of section 3(1)(iii) of the act and accordingly its articles contain the relevant restrictive clauses as prescribed in that section. by virtue of the companies (amendment) act, 2000, with effect from 14.12.2000, section 3(1)(iii)(d) prohibits a private company .....

Premier Automobiles Ltd. Vs. Fiat India Private Ltd. and ors.

Court : Company Law Board CLB

Reported in : (2005)124CompCas14

..... directors who are not parties to the shareholders' agreement. further, in para 11(hh) of the petition, the petitioner has voiced its grievances relating to amendment to article 40, non issue of notices in terms of article 30 etc. in paragraph (jj), the petitioner has made certain allegations regarding the conduct of ..... of the foreign awards in india". this highlighted portion (by me) indicates that the parties have consciously agreed that the provisions of arbitration & conciliation act, 1996 are not applicable to the arbitration clause contained in these agreements except for the purposes of enforcing the foreign award. an arbitration agreement is always ..... matter of fact, the petitioner being aware that the disputes are covered by arbitration agreement, filed an application under section 9 of the arbitration &conciliation act before bombay high court seeking for certain interim reliefs. when the high court declined to grant any relief, the petitioner filed an appeal before the division .....

Ram Vasant Kotak Vs. Intermodal Transport and Trading

Court : Company Law Board CLB

Reported in : (2005)59SCL181

..... to press his point that the contention of the petitioner is incorrect that company law board is not a civil court:- "now, under section 111 of the companies act as amended with effect from 31 may, 1991, the company law board performs the functions that were performed by courts of civil judicature under section 155. it is empowered ..... of the company. f. the shareholding of both the parties as on date shall not be disturbed. g. articles of association of the company shall not be amended during the pendency of this case.22. with the above directions, the applications are disposed of and the petition is adjourned sine-die with liberty to apply to ..... be encouraged to agitate in different court simultaneously. in the present case the petition filed in july 2003 and in page no. 26, 29, 30 & 31 of amended petition, specific allegations have been made that shareholding have been reduced. the petitioner have filed a private complaint before the magistrate in 2004 and obtained an order under section .....

Shri T.A.M. Athavan Vs. Sun Freight Systems Private

Court : Company Law Board CLB

Reported in : (2004)4CompLJ593

..... of the third respondent. at the extraordinary general meeting said to have been held on 13.05.2002, attended by the petitioner, the articles of association was amended enabling the company to convene the board meeting at a short notice under section 171 and further m.s. karl marz was appointed as an additional director, which ..... meeting convened on 13.05.2002, when the petitioner was present, the articles of association of the company was amended enabling the company to convene the board meeting at a short notice under section 171 of the act. at the same meeting m.s. karl marz was appointed as an additional director to hold the office till ..... issued share capital of m/s sun freight systems private limited ("the company") has filed this company petition under sections 397 and 398 of the companies act, 1956 ("the act") alleging acts of oppression and mismanagement in the affairs of the company and seeking the following reliefs: (a) to declare that the removal of the petitioner as director .....

Shri Rajeev Kwatra Vs. Shri Sunil Khanna and Chandigarh

Court : Company Law Board CLB

Reported in : (2006)129CompCas373

..... . this is specially required in the circumstances, when the elections are sought to be conducted on the basis of vague list of members, prepared in anticipation of amendment of article of association and ineligible members are made voters, who would participate in the elections. the main points of law in the petition are that the respondent ..... member of the company.4. the learned counsel for the petitioner submitted that according to article 3 of the articles of association of the club, which was amended at the extra ordinary general meeting of the company held on 24^th jan.1998, the membership of the club was restricted to the maximum of 5000 ..... annual general meeting and the elections of the executive committee were held on 3,4.2004 and the acting executive committee has thought of covering up its mistakes during the annual genera meeting. the executive committee proposed to amend article 3 of articles of association whereby the maximum limit of total members is to increase to 7000 members .....

In Re: Jindal Vijayanagar Steel

Court : Company Law Board CLB

Reported in : (2006)129CompCas952

..... going to the state of maharashtra. the company failed to mention the conditions stipulated in the joint venture agreement and in particular the terms relating to amendments to the memorandum and articles of association and the restriction imposed on the shifting of registered office either in the circular resolution addressed to directors or ..... shifting its registered office from the state of karnataka to the state of maharashtra as approved by a special resolution passed in accordance with section 189 of the act by postal ballot.2. shri r. murari, the learned counsel representing the company submitted that the company with its registered office at p.o.toranagallu, ..... consent incorporate the provisions of the joint venture agreement, (ii) all the resolutions for the amendment to the memorandum and articles shall be passed in mutual consultation with each other and in accordance with the relevant provisions of the act, (iii) project shall be located at a site to be mutually agreed upon in .....

Sri M.S. Kumanan and Sri M.S. Vs. S.S.M. Processing Mills Ltd., Sri

Court : Company Law Board CLB

..... appointment of the fourth respondent as additional director, have invoked in the present company petition as amended in terms of c.a. no. 9 of 2006, the provisions of sections 235, 237, 397, 398, 402 & 403 of the companies act, 1956 ("the act") seeking the following among reliefs: (i) to declare that the board meeting held on ..... the petitioners continue to be directors of the company; (v) to remove the respondents 2 to 4 from the office director of the company; (vi) to amend the articles of association of the company and provide appointment of directors by proportional representation for the holding of the petitioners in the company; (vii) to appoint an ..... up will be prejudicial to the interests of the petitioners and other shareholders. hence, the petitioners are constrained to approach this board for appropriate reliefs against the acts of oppression and mismanagement perpetuated by the respondents 2 & 3. the powers of clb as held in shoe specialities private limited and ors. v. standard .....

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 .....

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) .....