Judgment Search Results Home > Cases Phrase: depositories act 1996 22 of 1996 section 5 services ofdepository Court: supreme court of india Page 1 of about 47 results (0.201 seconds)

Ptc India Financial Services Ltd. Vs. Mr. Venkateshwarlu Kari

Court : Supreme Court of India

..... the reasoning that prior notice under section 176 of the contract act would interfere with transparency and certainty in the securities market and render civil appeal no.5443 of 2019 page 72 of 86 fatal blow to the depositories act and the 1996 regulations is farfetched as it fails to notice that the right of the pawnee is to realise money on sale ..... section 2(1)(j): registered owner means a depository whose name is entered as such in the register of the issuer; 68 section 2(1)(a): beneficial owner means a person whose name is recorded as such with a depository; civil appeal no.5443 of 2019 page 44 of 86 agreement with the depository for availing its services ..... , in the subsequent paragraphs, the learned single judge in tendril financial services (supra) does examine the position if section 176 were to apply and had not been complied with. ..... the effect of the ratio in tendril financial services (supra) is to enact an entirely new jurisprudence on the law of pledge, annulling and re-writing the well-established law of pledge, which gives two options to the pawnee when pawnor is in default, just because ..... (2000) 5 scc122 civil appeal no.5443 of 2019 page 25 of 86 amounted to negligence in service under the consumer protection act, 1986. ..... the case 2.1 the appellant ptc india financial services limited,3 is an existing company under the companies act, 2013. ..... the decision in tendril financial services (supra) also notices another decision of the single judge bench of the delhi high court in .....

The State Of Maharashtra Vs. 63 Moons Technologies Ltd

Court : Supreme Court of India

..... , - (a) the industrial development bank of india, (b) a state financial corporation, (c) any financial institution specified in or under section 6a of the industrial development bank of india act, 1964, or (d) any other institution that may be specified by the government in this behalf; (v) amounts received in the ordinary course of business by way of, - (a) security deposit, (b) dealership deposit, (c) earnest money, (d) advance against order for goods or services; (vi) any amount received from an individual or a firm or an association of individuals not being a body corporate, registered ..... the expression deposit is defined in section 2(c) of the mpid act in the following terms: (c) deposit includes and shall be deemed always to have included any receipt of money or acceptance of any valuable commodity by any financial establishment to be returned after a specified period or otherwise, either in cash or in kind or in the form of a specified service with or without any benefit in the form of interest, bonus, profit or in any other form, but does not include (i) amount raised by way of share capital or by way of debenture .....

Shakti Yezdani Vs. Jayanand Jayant Salgaonkar

Court : Supreme Court of India

..... accordingly, the following questions were formulated for decision in the appeals: (i) whether a nominee of a holder of shares or securities appointed under section 109a of the companies act, 1956 read with the bye-laws under the depositories act, 1996 is entitled to the beneficial ownership of the shares or securities subject matter of nomination to the exclusion of all other persons who are entitled to inherit the estate of the holder as per the law of succession?. ..... . the appellants case is grounded in the interpretation of the term vest in section 109a of the companies act, 1956 and bye-law 9.11.1 under the depositories act, 1996, and according to them, the use of the term vest indicates the intent to bestow page 30 of 43 ownership of the securities upon the nominee on the shareholder s death ..... securities in trust and in a capacity as a beneficiary for the legal representatives who are entitled to inherit securitie or shares under the law of inheritance?. (iii) whether a bequest made in a will executed in accordance with the inidan succession act, 1925 in respect of shares or securities of the deceased supersedes the nomination made under the provisiosn of sections 109a and bye law no.9.11 framed under the depositories act, 1996?.11 ..... it was also the appellants contention that nominations made under/in jayant shivram salgaonkar s mfs/shares were made as per section 109a & 109b of companies act, 1956 and bye-law 9.11.7 of the depositories act, 1996. .....

63 Moons Technologies Ltd (Formerly Known as Financial Technologies In ...

Court : Supreme Court of India

..... 237(b) is a discretionary power the first requirement for its exercise is the honest formation of an opinion that the investigation is necessary and the further requirement is that there are circumstances suggesting the inference set out in the section; an action not based on circumstances suggesting an inference of the enumerated kind will not 54 be valid; the formation of the opinion is subjective but the existence of the circumstances relevant to the inference as the sine qua non ..... was also the vice-chairman of nsel, the eow of mumbai police, has since filed a chargesheet against shri jignesh shah under various sections of indian penal code and also the maharashtra protection of interest of depositors (mpid) act, 1999, before the hon ble sessions judge, special court under mpid act, mumbai which vindicates the stand already taken by the commission in its order dated 17th december, 2013 pertaining to the role ..... . but as the tasks of the government multiplied with the advent of the welfare state, it began to be increasingly felt that the framework of civil service was not sufficient to handle the new tasks which were often specialised and highly technical in character and which called for flexibility of approach and quick decision making ..... ., (1996) 8 scc407[ new bank of india employees union ] .....

Rahuta Union Co-op. Bank Ltd. and anr. Vs. Union of India (Uoi) and or ...

Court : Supreme Court of India

Reported in : 2004(5)ALLMR(SC)1004; 2004(4)AWC3455(SC); II(2004)BC574; [2004]120CompCas184(SC); (2005)5CompLJ73(SC); 110(2004)DLT229(SC); 2004(74)DRJ419; JT2004(3)SC198; 2004(2)SCALE805;

..... other company before commencing banking business in india, shall apply in writing to the reserve bank for a licence under this section :provided that in the case of a banking company in existence on the commencement of this act, nothing in sub-section (1) shall be deemed to prohibit the company from carrying on banking business until it is granted a licence in pursuance of this section or is by notice in writing informed by the reserve bank that a licence cannot be granted to it:provided further that the reserve bank ..... carry on banking business in india; or(ii) if the company at any time fails to comply with any of the conditions imposed upon it under sub-section (1); or(lll) if at any time, any of the conditions referred to in sub-section (3) and sub-section (3a) is not fulfilled :provided that before cancelling a licence under clause (ii) or clause (iii) of this sub-section on the ground that the banking company has failed to comply with or had failed to fulfill any of the conditions referred to therein, the ..... incorporated outside india, the reserve bank may require to be satisfied by an inspection of the books of the company or otherwise that the conditions specified in sub-section (3) are fulfilled and that the carrying on of banking business by such company in india will be in the public interest and that the government or law of the country in which it is incorporated does not discriminate in any way ..... in 1996 rbi pointed out certain operational deficiencies in the working of .....

Ganesh Bank, Kurundwad Ltd. and ors. Vs. the Union of India (Uoi) and ...

Court : Supreme Court of India

Reported in : I(2007)BC296; 2006(6)BomCR98; [2006]133CompCas371(SC); JT2006(8)SC132; (2007)146PLR429; 2006(8)SCALE588; (2006)10SCC645; [2006]71SCL167(SC)

..... federal bank submitted as follows:the procedure, process and yardsticks envisaged under section 45 of the act for the amalgamation of a financially unviable bank with a stronger bank, cannot be the same as are applicable ..... good reasons' in sub-section (1) of section 45 is a term of wide amplitude and it will not be correct to restrict it only to the actions mentioned under sub-section (2) of section 45 of the act as is contended by ..... the rejection of the proposal of saraswat bank is vitiated on account of misunderstanding of section 56(zb) of the act and on account of a failure to consider the interest of shareholders whose interest would continue ..... good reasons' for the rbi to apply to the central government for the moratorium which led to the impugned order dated 24th january, 2006, the concept of 'good reasons' contemplated under section and as to how the rbi justifies its decision on the basis of the yardstick applied by it. ..... in fact concerned with sensitive, non- justiciable areas, for example, foreign affairs, but some are reviewable in principle, including the prerogatives relating to the civil service where national security is not involved. ..... minister for the civil service 1984 (3) all.er.935 (commonly ..... the civil service this ..... said that powers conferred by the royal prerogative are inherently unreviewable but since the speeches of the house of lords in council of civil service unions v. ..... lord diplock in council of civil service unions v. ..... the bank for exercising banking services. .....

Sree Bank Ltd. Vs. Sarkar Dutt Roy and Co.

Court : Supreme Court of India

Reported in : AIR1966SC1953; [1965]35CompCas881(SC); [1965]3SCR708

..... said: "on this point it is significant to note that sub-section 3 of section 45-o makes the provisions of the section applicable only to a banking company in respect of which a petition for winding-up has been presented before the commencement of the banking companies (amendment) act of 1953; but does not make the provisions of the section applicable to debts due to the banking company which had become barred ..... the petition for winding-up of the company, the court gets control over the affairs of the company and supervises the acts of the liquidator, in accordance with the provisions of the act which, to secure necessary action in all matters within a reasonable time, provide certain periods for certain actions to be ..... a suit or application by a banking company which is being wound up, or in respect of which a petition for the winding-up has been presented before the commencement of the banking " companies (amendment) act, 1953, the period commencing from the date of the presentation of the petition for winding-up of the banking company shall be excluded. ..... (2) notwithstanding anything to the contrary contained in the indian limitation act, 1908 or section 543 of the companies act, 1956 or in any other law for the time being in force, there shall be no period of limitation for the recovery of arrears of calls from any director of a banking company ..... minister of labour and national service(2) it was observed, "the fact that a prospective benefit is in certain cases to be measured .....

Mr. Pramod Malhotra and ors. Vs. Union of India (Uoi) and ors.

Court : Supreme Court of India

Reported in : III(2004)BC194; [2004]120CompCas137(SC); (2004)2CompLJ261(SC); 111(2004)DLT605(SC); JT2004(3)SC315; 2004(2)SCALE749; (2004)3SCC415; [2004]51SCL8(SC)

..... not give a notice as aforesaid to a banking company in existence on the commencement of this act before the expiry of the three years referred to in sub-section (1) of section 11 or of such further period as the reserve bank may under that sub-section think fit to allow,(3) before granting any licence under this section, the reserve bank may require to be satisfied by an inspection of the books of the company or otherwise that the following conditions are ..... other company before commencing banking business in india, shall apply in writing to the reserve bank for a licence under this section :provided that in the case of a banking company in existence on the commencement of this act, nothing in sub-section (1) shall be deemed to prohibit the company from carrying on banking business until it is granted a licence in pursuance of this section or is by notice in writing informed by the reserve bank that a licence cannot be granted to it :provided further that the reserve bank shall ..... he submitted that this was done even when rbi had known from 1996 onwards that there were deficiencies and irregularities in the functioning of sbl. ..... a dosing of a bank or financial institution has its impact not just on that bank/financial institution and its customers and debtors but on the future of financial services in that region. .....

Ifb Agro Industries Limited Vs. Sicgil India Limited

Court : Supreme Court of India

..... ), the (5) the provisions of this securities and exchange section shall not restrict board of india act, 1992 the right of a holder of (15 of 1992) or this act shares or debentures, to or any other law for the transfer such shares or time being in force, the debentures and any person tribunal may, on an acquiring such shares or application made by the debentures shall be entitled depository, company, to voting rights unless the depository participant, voting rights have been the holder of the ..... enlarges the power of the clb, the power of rectification continues to remain summary in nature and if any seriously disputed questions arise, the company court should relegate the 15 (2006) 6 scc9416 (2016) 1 scc42317 section 111(7) - on any application under this section, the tribunal - (a) may decide any question relating to the title of any person who is a party to the application to have his name entered in, or omitted from, the register; (b) generally, may decide any ..... the rectificatory powers of a board/company court under section 38 of the companies act, 1913, then under section 155 of the 1956 act, followed by section 111a introduced by the 1996 amendment to the 1956 act, and finally, section 59 of the 2013 act, demonstrate that its essential ingredients have remained the same. ..... royal holdings services ltd. ..... andhra bank financial services ltd. .....

Deposit Insurance and Credit Guarnt.Corpn. Vs. Ragupathi Ragavan and O ...

Court : Supreme Court of India

..... amounts in its hands, after making provision for expenses payable by that time in respect of such realisations or other amounts in its hands are sufficient to enable it after the date of coming into force of the scheme referred to in section 18 of the act, to pay or credit in respect of each depositor a sum not less than one paisa in the rupee. 28. ..... till the said surplus is paid to the corporation, subject to the provisions regarding making payment of winding up expenditure, dividend to be paid as per the provisions of section 21 of the act, the depositors could not have been given any further amount. ..... the amounts repayable to the corporation under sub-section (2) of section 21 of the act shall be paid from time to time by, - (a) the liquidator as soon as the realisations and other amounts in his hands, after making provision for expenses payable by that time, are sufficient to enable him to declare a dividend of not ..... thus, the amount which the corporation was liable to pay to the depositors under the provisions of section 16 of the act had been paid by the corporation through the official liquidator.9. ..... it is pertinent to note that when the corporation had paid to the depositors as per the insurance scheme under the act, the corporation gets a right under the aforestated section 21 of the act to get money from the official liquidator.24. .....