Judgment Search Results Home > Cases Phrase: finance act 1987 section 91 amendment of section 42 Sorted by: old Court: monopolies and restrictive trade practices commission mrtpc Page 1 of about 4 results (0.108 seconds)

Director-general of Vs. Oriental Finance and Exchange Co.

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

Reported in : (1990)67CompCas480NULL

..... body, being a partnership concern.further, it transpires that the respondent had obtained a stay order from the madras high court against the operation of chapter iii-c.subsequently, the reserve bank got this order amended to the effect that the firm will not accept further deposits and the reserve bank will not initiate penal proceedings. ..... this is an application filed by the director-general of investigation and registration under section 12a of the monopolies and restrictive trade practices act, 1969, praying for an ex parte ad interim injunction restraining the respondent from carrying on unfair trade practices of making false or misleading statements in the advertisements and publicity material brought out to attract deposits from the public. ..... from what has been stated in the preceding paragraphs, it appears to us that the claims made in the advertisements and brochure (as annexed with the director-general's application under section 36b(c)) are false and misleading, being highly exaggerated and unsubstantiated by facts and figures. ..... [ 1987] 61 comp cas 663, 695 : "we would also like to query what action the reserve bank of india and the union of india are taking or proposing to take against the mushroom growth of 'finance and investment companies' offering staggeringly high rates of interest to depositors leading us to suspect whether these companies are not speculative ventures floated to attract unwary and credulous investors and capture their savings. .....

Director-general of Vs. Travancore Finance and Exchange

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

Reported in : (1989)65CompCas518NULL

..... shied away from direct and pointed replies and gave what could be considered an evasive reply, in the following words in its letter dated march 2, 1987 : "in this connection i may mention, with due respect, that the firm's accounts are being audited and it is expected to be over by the ..... director-general has also filed an application under section 36b(c) of the monopolies and restrictive trade practices act, 1969, against the same respondent seeking initiation of proceedings under section 36d of the aforesaid act and we have directed issuance of notice of ..... in view of what has been stated by the director-general in its application under section 12a, it is obvious that the unfair trade practices indulged in by the respondents in making high sounding and alluring claims about the deposit- ..... subsequently, the reserve bank got this order amended on the lines of the one passed by the supreme court on march 4, 1986, in ..... [1987] 61 comp cas 663, 695 (sc): " we would also like to query what action the reserve bank of india and the union of india are taking or proposing to take against themush-room growth of finance and investment companies offering staggeringly high rates of interest to depositors leading us to suspect whether these companies are not speculative ventures floated to attract unwary and ..... in terms of the amended order of the madras high court, the said firm has been restrained from accepting further deposits and the reserve bank restrained from initiating penal measures including .....

In Re: Anil Starch Products Ltd.

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

Reported in : (1975)45CompCas600NULL

..... the public who are entitled to furnish information and assistance to the commission to the extent permitted by the commission under sections 17 and 18 and other provisions of the act and regulations to enable the commission to discharge its duty of controlling monopolies and preventing concentration of economic power to the common ..... in order to enable the opponents effectively to assist the commission in the discharge of its duty, it is necessary as well as sufficient to furnish to the opponents a copy each of the application under section 22 of the monopolies and restrictive trade practices act which contains the proposals of the applicants with regard to the proposed new undertaking. ..... body and has a director of investigation appointed by the central government and other staff under him at the disposal of the commission for causing investigations to be made for the purposes of the act.unlike the judicial proceedings in a court, the commission has at its disposal machinery for making investigations and gathering information on its own. ..... section 22 provides that on receiving such application the central government may call upon the applicant to satisfy the central government that the proposal to establish a new undertaking or the scheme of finance with regard to such proposal is not likely to lead to concentration of economic power to the common detriment or is not likely to be prejudicial to the public interest in any other manner and thereupon the central government may if it .....

In Re: Agreement Relating to Nylon

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

Reported in : (1976)46CompCas357NULL

..... this view of the matter, however, would exclude a large number of users of commodities and a large number of commodities from the protective ambit of the monopolies and restrictive trade practices act.in view of this uncertain position and particularly in view of the decision of the supreme court referred to earlier, the term "consumer" in section 2(0)(ii) must be taken to include not only the consumers of the final product but the consumers of raw materials and intermediate products. ..... a party to such an agreement.the argument is that all these three types of agreements which, are exempt from registration under section 33(3) are such that no order can be made in respect of them under section 37(3) because in section 33(3) all the three types of agreements have been given the same status and, therefore, for the purpose of section 37(3) also they should be deemed to have the same status even though the legislature has omitted two types of agreements ..... if the agreement contains restrictive trade practices it would be no concern of the finance ministry to examine the agreement from the view-point of the entire legislation of the country and it would appear to us that such approval would not exempt the agreement from registration under section 33(3). ..... for example an agreement may go for approval in the ministry of finance for its approval to foreign collaboration. ..... the finance ministry can only consider the agreement from the point of view of foreign collaboration and foreign exchange .....

Registrar of Restrictive Trade Vs. Usha Sales Private Ltd.

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

..... restrictive trade agreements, new delhi (hereinafter referred to as the " registrar "), made an application dated the 19th june, 1974, under section 10(a)(iii) of the monopolies and restrictive trade practices act, 1969 (hereinafter referred to as " the act"), to the commission for an enquiry into the alleged restrictive trade practices emanating from certain clauses of an agreement entered into by messrs. ..... respondents had one type of agreement with its dealers which was registered with the registrar under section 35 read with section 33 of the act and after correspondence with the registrar they revised this agreement and even the revised agreement was registered with the registrar under the act.it is the trade practices emanating from the revised agreement which are the subject-matter of the ..... a commodity where demand is potentially there but has to be articulated where after-sales-service is necessary, where long-term finance arrangements are also unavoidable and where all the producers are equally organised, the exclusive dealing arrangement would pass through both the gateways ..... for this purpose the dealer himself is not required to make any capital investment and the financing facility is extended to him by the respondents inasmuch as they in turn permit the dealer to pay for the machines in instalments as and when the same are recovered by the dealer ..... , the state of demand and supply, the nature of the commodity: whether it requires service on long term finance, etc. .....

In Re: Avon Cycles P. Ltd.

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

Reported in : (1986)60CompCas1036NULL

..... contention of the director-general that the two price increases of bicycles were intended to finance partly or fully the prizes offered in the scheme and thereby section 36a(3)(a) of the monopolies and restrictive trade practices act was attracted. ..... issues are whether the said trade practice is an unfair trade practice within the meaning of section 36a of the monopolies and restrictive trade practices act, and if so, whether it is prejudicial to public interest or to the interest of ..... assuming loss or injury is an ingredient of unfair trade practice under section 36a(3)(b) in the matter of giving away prizes by contests, lottery or game of chance or skill, it is to be noted that consumer interest is integral to any socio-economic order especially under the monopolies and restrictive trade practices act and, therefore, what deprives the consumers as a body or a fairly large number of them of the benefits from market affluence and competition must be regarded as injurious ..... as this advertisement appeared to attract the provisions of section 36a of the monopolies and restrictive trade practices act, 1969, a preliminary investigation was ordered to be conducted by the director (research) taking into account the findings of the preliminary investigation report the commission issued a notice of ..... the affirmative, whether the said trade practice is an unfair trade practice within the meaning of section 36a of the monopolies and restrictive trade practices act (iii) if the reply to issue no. .....

In Re: Polar Industries Ltd. and

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

Reported in : (1987)61CompCas805NULL

..... initially, the respondents contested the enquiry but have now come up with applications under section 36d(2) of the act giving the following undertaking : (a) the respondent will not engage in off-season discount scheme which is relatable to future prices of its fans, as narrated in the notice of enquiry. ..... this discount is measured not on the basis of the current prices but with reference to the prices which are expected to rule in april, 1987.while the advertisement announced in bold letters that " polar hungama is on " and that there is "an off-season discount of rs. ..... 45 ", the details of the discount as measured with reference to the " expected prices in april, 1987 " are given in a corner of the advertisement in a statement in very small letters. ..... we have gone through the applications under section 36d(2) and the undertakings given therein and heard learned counsel for the director-general and the respondents. ..... the present enquiry has been instituted on the basis of an application filed by the director-general (investigation and registration) (hereinafter referred as to "the director-general") under section 36b(c) of the monopolies and restrictive trade practices act, 1969.2. ..... in the context of these facts, the sales promotion scheme as publicised in the impugned advertisement, amounts to an unfair trade practice within the meaning of section 36a(2) of the monopolies and restrictive trade practices act. .....

In Re: Bharat Overseas Finances

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

Reported in : (1990)68CompCas494NULL

..... in this connection, the director-general has stated that the "non-banking financial companies under the reserve bank of india directions and non-banking non-financial companies under section 58a of the companies act, 1956, are statutorily required to publish an advertisement containing prescribed particulars such as financial position, composition of management, amount of outstanding deposits and a declaration that the deposits are unsecured and rank pari passu with other ..... is an application filed by the director-general of investigation and registration praying for issue of ex parte ad interim injunction against bharat overseas finances and industrial investment corporation, madras, and its partners restraining them from carrying on unfair trade practices as spelt out in the application.2. ..... [1987] 61 comp cas 663, 695 : "we would also like to query what action the reserve bank of india and the union of india are taking or proposing to take against the mushroom growth of 'finance and investment companies' offering staggeringly high rates of interest to depositors leading us to suspect whether these companies are not speculative ventures floated to attract unwary and credulous investors and capture their savings ..... the respondent did send a letter dated february 13, 1987, which was produced at the time of hearing of the petition but it did not give the undertaking, on the ground that "due to dispute among partners, the accounts are not properly maintained and it is not possible .....

In Re: Mangalore Bankers and

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

..... the director-general has also filed an application under section 36b and 36c of the monopolies and restrictive trade practices act, 1969, against the same respondent seeking initiation of proceedings under section 36d of the aforesaid act and we have directed the issuance of notice of enquiry against the respondent.3. ..... in response to specific questions, the respondent informed the director-general, vide their letter dated march 7, 1987, that "at present we are accepting deposits and going to start some new ventures" and that " we can give such rate of interest by cutting down our establishment expenses and investing in highly profitable business ..... [1987] 61 comp cas 663 (sc) which refer to the mushroom growth of"finance and investment companies"offering interest at astronomical rates which they are in no position to honour (at page 695) : "we would also like to query what action the reserve bank of india and the union of india are taking or proposing to take against the mushroom growth of 'finance and investment companies' offering staggeringly high rates of interest to depositors leading us to suspect whether these companies are not ..... bankers and financial corporation is a partnership concern having its registered office in mangalore and administrative office at bangalore, the respondent issued an advertisement in deccan chronicle, dated february 5, 1987, which invited deposits from the public offering the following rates of interest: 4. ..... peerless general finance and investment .....

Director-general of Vs. Manjog Builders

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

Reported in : (1987)62CompCas845NULL

..... it is contended by the director-general that, inter alia, purveying of news and other information is " service " within the meaning of section 2(r)of the monopolies and restrictive trade practices act; that the definition is both generic and specific ; that, in the present case, the respondent is giving false and misleading information and tempting the intending buyers to make investment for purchase of plots although ..... director-general of investigation and registration, in compliance with the order of this commission dated february 9, 1987 (communicated to him vide letter dated february 12, 1987), carried out investigation and submitted a preliminary investigation report dated april 3, 1987, recommending taking action against the respondent in respect of commission of unfair trade practices. ..... is necessary because we have been informed by the director-general that the letter dated march 13, 1987, was received by the director-general on march 20, 1987, in which the respondent had stated that the provisions of the monopolies and respective trade practices act were not applicable to the respondent, being builders. ..... of the injunction order along with notice of the application shall be sent to the respondent for showing cause on april 28, 1987, as to why the injunction should not be made absolute during the pendency of the enquiry.10. ..... another advertisement appeared in deccan herald of february 13, 1987, in which the names of the road and areas in which those sites were located .....