Judgment Search Results Home > Cases Phrase: depositories act 1996 22 of 1996 section 5 services ofdepository Page 8 of about 408 results (0.144 seconds)

Jer Rutton Kavasmaneck @ Jer Jawahar Thadani and Another Vs. Gharda Ch ...

Court : Mumbai

..... is that in case of public companies to which depositories act would apply, instead of section 111, section 111a of the companies act, 1956 would apply which has also been introduced as consequential amendment by the depositories act, 1996. ..... also be noted that sub-section 14 was added to section 111 by way of consequential amendment introduced by the depositories act, 1996. ..... order 20 rule 1 and order 41 rule 30 of code of civil procedure, section 397 and 398 of the companies act, regulation 29(1) and regulation 29(4) of the company law board regulation 1991, section 31(5) of the arbitration and conciliation act, 1996, various provisions of central excise act, 1944, customs act, 1962, mines and minerals development regulation act, 1957, electricity act, 2003, administrative tribunals act, 1985, telecom disputes settlement and appellate tribunal procedure, 2005, consumer protection regulation ..... indeed, learned counsel had stated that the facts which are pressed into service in the context of ground of oppression of minority would, by itself, indicate mismanagement and ..... no.4, is concerned, since he was a nominee director and is no longer on the board, service of notice on the said respondent is dispensed with. ..... to the requisitionists by the company; and any sum so repaid shall be retained by the company out of any sums due or to become due from the company by way of fees or other remuneration for their services to such of the directors as were in default. ..... accordingly, service on the .....

Efirst Technologies Private Ltd. Vs. Hiperworld Cybertech Limited and

Court : Company Law Board CLB

Reported in : (2005)126CompCas306

..... in view of the fact that section 111a was inserted in the act pursuant to the enactment of the depository act which is applicable to listed companies, i am of the view that in case of unlisted public companies, all the provisions as are applicable to a ..... it is to be noted that section 111a was introduced when the depositories act was enacted and in terms of the depositories act, shares are to be de-materialised and are to be kept in fungible form and transfers take ..... the remedies of appeal and rectification are available to all kinds of shares held in a public company under the proviso to section 111a(2) and section 111a(3) read with sub section (7) of section 111 which would make applicable the provisions of section 111(1), (2) and (4) by virtue of section 111(5)" it further held that ''restriction contained in sub-section (14) of section 111 would not apply to transfer and ownership of the shares of the public company held in the form of share certificates ..... view of this court has been that the transfer of assets and liabilities of the transferor company to the transferee company was by operation of law in view of the provisions of sub section (2) of section 394 of the aforesaid act, and apart from complying with the provisions of sub section (2) of section 394, nothing further was required to be done in order to complete the transfer of liabilities and assets of the transferor company to the transferee company". ..... company relates to application services and providing of e- .....

PNL Depositors' Welfare Association, Registered No. 94/2005, rep. by S ...

Court : Chennai

Reported in : 2005(4)CTC469; [2005]64SCL115(Mad)

..... (3) if, the debts recovery tribunal, after examining the facts and circumstances of the case and evidence produced by the parties, comes to the conclusion that any of the measures referred to in sub-section (4) of section 13, taken by the secured creditor are not in accordance with the provisions of this act and the rules made there under, and require restoration of the management of the business to the borrower or restoration of possession of the secured assets to the borrower, it may by order ..... the petitioner, after pointing out the amendments to the sick industrial companies (special provisions) act, 1985) hereinafter referred to 'sica act'), by invoking section 41 of the sarfaesi act, as mentioned in the schedule to sarfaesi act, contended that the rehabilitation measure available to any sick industry under the 'sica act' has been done away with under the sarfaesi act and therefore by reading sections 13(4) 37 and 41 along with the schedule referred to above, it should be held that such safeguards contemplated ..... therefore, so long as the rights of the workmen by virtue of their service put in the erstwhile management continue to enure to their benefit by virtue of operation of section 25ff of the industrial disputes act vis-a-vis section 13(6) of the sarfaesi act, i do not find any grievances to be redressed in so far as the workmen of the third respondent sugar mills are concerned. .....

Kedarnath Ramdayal Bang and Others Vs. the State of Maharashtra Throug ...

Court : Mumbai Aurangabad

..... . registrar, ahmednagar regarding the amalgamation.181/3/2011: respondent no.6 being aggrieved by order dated 14.2.2011 preferred revision application under section 154 of the mcs act, 1960 before the respondent no.1 state government.191/3/2011: the honourable minister has stayed the order of amalgamation.205/7/2011: honourable minister allowed the revision application and has set aside the ..... (xi) it ought to be held that, the revisional authority has failed to appreciate the scope of revisional powers as conferred by virtue of section 154 of the mcs act, 1960 and thus has exceeded the jurisdiction vested in it ..... . the hon'ble minister has failed to appreciate that the procedural aspects as per sections 17 and rule 16 of rules of 1961 have been duly complied with and thereafter the order of amalgamation was ..... registrar has issued the order of amalgamation by exercising powers under section 17 of mcs act, 1960 and rule 16 of maharashtra cooperative societies act, 1961 ..... . (7) proviso (ii) to section 17 (1) of the maharashtra cooperative societies act provides that, all members and all creditors have to consent for ..... petitioner's right to organize for commercial activity under section 91 include the right to separate and ..... the decision of amalgamation is thus contrary to section 17 since all members have not consented ..... , the appellants have not shown any reason as to why such revocation should be branded as defeating the provisions of the mcs act, the existence of society and cooperative movement .....

Vijaya Finance Corporation Ltd. Vs. Peerless General Finance and

Court : Company Law Board CLB

Reported in : (2006)129CompCas733

..... . in view of the fact that section 111a was inserted in the act pursuant to the enactment of the depositories act which is applicable to listed companies, i am of the view that in case of unlisted public companies, all the provisions as are applicable to a ..... . it is to be noted that section 111a was introduced when the depositories act was enacted and in terms of the depositories act, shares are to be de-materialised and are to be kept in fungible form and transfers take place electronically and instantaneously ..... "the consistent view of this court has been that the transfer of assets and liabilities of the transferor company to the transferee company was by operation of law in view of the provisions of sub-section (2) of section 394 of the aforesaid act, and apart from complying with the provisions of sub-section (2) of section 394, nothing further was required to be done in order to complete the transfer of liabilities and assets of the transferor company to the transferee company" ..... none of the cases cited by shri sarkar to urge that provisions of section 108 have to be complied with, is relevant as they either relate to the provisions of the rent control act or stamp act or related to personal services of employees.further, right from the day the high court sanctioned the scheme, projects has been having continuous cause of action every day and as such the ..... peerless has not declared any dividend since 1996 till 2003 and therefore the acquisition cannot be for a bona fide purpose .....

Shri Chatrapati Sahakari Sakhar Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

..... chavan memorial fund, etc.this order clearly provided that if there is any non-compliance with that order, that would be construed as an infringement of the provisions of section 79a of the maharashtra state co-operative societies act, 1960, and the respective board of directors and the chief executive would be liable for penalties and legal actions. ..... 714 and 715/pn of 1989, respectively, the commissioner of income-tax, acting under section 263 of the income-tax act, 1961, set aside the assessments made and directed the income-tax officer to make fresh assessments by including these sums as trading receipts of the assessee. ..... the reason that prevailed with the commissioner of income-tax for initiating action under section 263 of the income-tax act was the judgment of the supreme court in the case of cit v. ..... the income-tax officer accepted the claim but the commissioner of income-tax, acting under section 263, directed its inclusion. ..... we have got to go by the bye-laws in good faith as they stand and taking them to be made bona fide, because the protection of the government supervision and control by the government under section 79a of the maharashtra state co-operative societies act, 1960, cannot be overlooked. ..... he also invoked section 43b of the income-tax act, 1961, to support the view that they are taxable. ..... the question was whether the collections by way of empty bottles return security deposit' were income assessable under section 10 of the indian income-tax act, 1922. .....

Shri Ram Kishan Gupta Vs. Union of India and ors.

Court : Delhi

..... furnish to the deposit insurance and credit guarantee corporation established under the deposit insurance and credit guarantee corporation act, 1961 (hereinafter referred to as the corporation) a list complying in all respects with the requirements of sub-section (1) of section 18 of that act and thereafter whenever amounts referred to in sub-section (2) of section 18 of that act are received from the corporation, the transferee bank shall credit each of the accounts referred to in clause ..... ) or a scheme of compromise or arrangement or of reconstruction in respect of such bank has been sanctioned and the corporation has become liable to pay to depositors of the insured bank under sub-section (2) of section 16, the transferee bank where the scheme is of amalgamation and the insured bank in any other case shall, with the least possible delay and in any case not later than three months from the ..... article 226 of the constitution of india for the following reliefs:i) a writ of certiorari or any other appropriate writ or direction against the respondent thereby quashing the provisions of section 16(2) of the deposit, insurance and credit guarantee corporation act, 1961, being ultra vires and unconstitutional; ii) a writ of mandamus or any other appropriate writ or direction in favour of the petitioner and against the respondents thereby directing ..... its impact not just on that bank/financial institution and its customers and debtors but on the future of financial services in that region. .....

M/S. Vahini Finance and Chit Fund Pvt Ltd. and Others Vs. P. Indrasena ...

Court : Andhra Pradesh State Consumer Disputes Redressal Commission SCDRC Hyderabad

..... having regard to the specific provisions under the andhra pradesh protection of depositors of financial establishments act 1999, prima facie it appears that the district consumer forum, mahaboobnagar and judicial first class magistrate, special mobile court, mahaboobnagar have no jurisdiction to entertain the cases either for recovery of amount alleged ..... company made a representation on 23.6.2005 to the district collector requesting him to transfer all the cases to the special court as per section 6(3) of the protection of depositors of financial establishment act, 1999. ..... depositors filed complaint under the provisions of sec.138 of ni act against the opposite party company on the file of jmfc, ..... forum shall follow the procedure prescribed by section 200 cr.p.c ..... contemplated under section 200 ..... be followed as section 27 of ..... protection of depositors of financial establishment act, mahabubnagar issued proceedings on the basis of report of inspector of police, rural ps mahabubnagar and the government vide g.o.ms.no.172 dated 26.6.2003 attached the properties of the opposite party no.1 company under the provisions of the ..... . act compared to sec.25 of the act is criminal in nature and sworn statement of the complainant has to be recorded with respect to non- ..... all pending cases before the consumer forum and jmfc and special mobile court, mahabubnagar to the special court designated for the purpose under the provisions of protection of depositors of financial establishment act, 1999. 5. .....

B. Rajagopal and anr. and P.C. Varghese Vs. Official Liquidator, High ...

Court : Chennai

Reported in : [2008]145CompCas305(Mad); (2008)7MLJ515

..... company and also to contradict the same by adducing evidence on their part to disprove the allegations and accusations made; that in the instant case, the liquidator failed to discharge his burden; that sections 542, 543 and 545 of the companies act have a distinct legal connotation and the court can exercise power to order prosecution and make a declaration and indict a person under the said provisions only after it follows the procedure ..... brothers lorry service; that they have also been awarded dealership by ashok leyland; and that they have entered into the field of plantation, transportation, finance, marketing, electronics, metal engineering and consultancy. ..... despite service of notice and reminders, except the seventh respondent all other respondents including respondents nos. ..... been guilty of any misfeasance or breach of trust in relation to the company;the tribunal may, on the application of the official liquidator, or the liquidator, or of any creditor or contributory, made within the time specified in that behalf in sub-section (2), examine into the conduct of the person, director, manager, liquidator or officer aforesaid, and compel him to repay or restore the money or property or any part thereof respectively, with interest at such rate as the court thinks .....

indur Kartar Chhugani and Another Vs. the State of Maharashtra and Oth ...

Court : Mumbai

..... directions were given to psi inamdar to lodge complaint immediately in respect of the incident of indur chhugani and his family members found in possession of flats no.501 and 502 which were attached under section 8 of the mpid act and when prima facie there was nothing brought before the court so as to consider the possession of indur chhugani and his family members being legal. 19. ..... said order dated 19.1.2005 discusses the necessity for invoking the powers under section 8 of the mpid act and to effect attachment of the flats in order to secure the interest of the depositors, more so, when it was factual position that rajkumar basantani (accused therein) was declared as proclaimed offender and ..... of this court rejecting criminal application no.7912 of 2005, the mpid court could not have reappraised the situation in different perspective and to come to the conclusion that there was no attachment under section 8 of the mpid act concerning flat nos.501 and 502. ..... 501 and 502 under section 8 of the maharashtra protection of interest of depositors (in financial establishments) act, 1999 and as such, all further steps and consequential proceedings would not be legal and valid and as such, no action shall lie against the petitioner and his family members only on ..... in actual physical possession of the flats no.501 and 502 without there being any valid documents for such possession, more so when the said flats were already attached under section 8 of the mpid act vide order dated 19.7.2005. .....