Court : Mumbai
Reported in : (1971)73BOMLR643
..... recent decision of a single judge of this court it is clear that they apply at a stage subsequent to the issue of a notification under section 4. in india finance and construction co. pvt. ltd. v. kamlakar thakur (1905) miscellaneous petition no. 444 of 1963, decided by mody j., on november 26, 1965 (unrep.) mr. justice mody dealing with ..... leading upto acquisition and sections 4 and 5a are such preliminary stages. therefore, they do not find mention in section 39.16. with this analysis of the provisions of chapter vii we turn to consider whether the section 4 notification ought to be set aside in the present case at this stage. now, there is no doubt or dispute here ..... no. 2 for whom the acquisition is being undertaken is a company within the meaning of the act, nor is there anything to show that the requirements of section 4 by itself are not fulfilled. 'what is urged is that the requirements of chapter vii and particularly of section 40(1)(b) have not been complied with. that is a matter .....
Tag this Judgment!Court : Mumbai
Reported in : [2004]121CompCas374(Bom); [2004]56SCL665(Bom)
..... and creditorsof the holding company.42. it would be useful to refer to thedecision of this court in brook bond india ltd.vs. rubi mills ltd. (1994) 3 c.l.j. 279, wheresrikrishna j. (as he then was) held that the saleof shares, whatever be their number, even ifamounts to a ..... ) 2 qb 606 where the courtheld that the directors have to discharge duties ofa fiduciary nature and no stipulation is valid bywhich he agrees to act in accordance with thedirection of his patrons. mr.chidambaram submittedthat although the nominee directors of the foreignshareholders agreed that blue tooth transaction isbeneficial to the company ..... that the arguments based on malafidesare really in substance allegation of oppressionand mismanagement by majority shareholders comingunder the purview of sections 397 and 398 of thecompanies act and the plaintiff should haveapproached the company law board for appropriatereliefs. mr. chidambaram contended that the companylaw board has adequate jurisdiction and powers toenquire .....
Tag this Judgment!Court : Mumbai
Reported in : [1977]106ITR203(Bom)
..... by mr. joshi that the second proviso to section 10 and the proviso to section 22 had been added to the original provisions of the estate duty act, 1953, by the same amending act of 1965 (finance act of 1965). that might be so; but that fact, in my opinion, can have little bearing on the interpretation of section 10. 66. it was ..... have had an interest in any property included by virtue of this section in the property passing on the death of the deceased.' 48. part iii of the said act bears the chapter heading 'exceptions from the charge of duty', and we are concerned with section 27 as it stood on the relevant date. sub-section (1) of section 27 which ..... way of trust. before considering the case law which may have a bearing on this aspect of the question, the relevant provisions of the said act may be set out. part ii of the said act bears the chapter heading 'imposition of estate duty' and we find that there are three sub-headings subsequently, viz., 'extent of charge' (sections 5 and 5a), .....
Tag this Judgment!Court : Mumbai
Reported in : [1989(58)FLR902]; (1994)IIILLJ306Bom
..... is placed on the ratio of the above decision, we reproduce a part of the relevant observations.'in 1972 by insertion of section 25-ffa in chapter v-a of the act, an employer was enjoined to give notice to the government of an intended closure. but gradually the net was case too wide and the freedom of ..... as required by section 25ffa and, therefore, criminal prosecution under section 30a has been launched.2. section 25ffa which is introduced in the i.d. act by the industrial disputes (amendment) act, 1972 (act no. 32 of 1972) reads thus:'25ffa(1) an employer who intended to close down an undertaking shall serve, at least sixty days before the ..... up for construction of buildings, roads, canals, dams and other construction works and projects or in the case of small establishments employing less than fifty persons. the act also provides for closing down any undertaking without serving the requisite notice'. 14-12-1988 the above statement gives the legislative history as well as the purpose and .....
Tag this Judgment!Court : Mumbai
Reported in : 1991LC771(Bombay); 1990(47)ELT325(Bom)
..... of revenue) notification no. 89-customs, dated the 25th march, 1982.with the insertion of proviso to sub-section (1) of section 3 of the central excises and salt act, 1944, through the finance bill, 1982, two rates of excise duty are now leviable on excisable goods produced or manufactured in india. under the main sub-section (1) of section 3, ibid ..... both;(b) allowed to escape in the atmosphere by flare system or otherwise; or(c) cleared to another factory outside the refinery in accordance with the procedure set out in chapter x of the central excise rules, 1944 for use in the manufacture of any of the commodities specified in the schedule hereto annexed otherwise than as fuel, from the whole ..... fifteen degrees of centigrade thermometer in the case of goods falling under item nos. 6,7,8 and 9 of the first schedule to the central excises and salt act, 1944 (1 of 1994); and(b) rs. 98.50 per kilometer at 15 degree c in the case of goods falling under item nos. 10 to 11a of the aforesaid first .....
Tag this Judgment!Court : Mumbai
Reported in : 1991(2)BomCR712; [1991(62)FLR909]; (1994)IIILLJ1077Bom; 1991(1)MhLj915
..... and reasonable orders of superiors; (b) remaining absent from duties without leave for which no satisfactory explanation has been given, violating provisions of staff regulation no. 31(2); (c) committing act of subversive of good behaviour.the petitioner's reply to the charge sheet dated 17th june 1985 is exhibit c. thereupon the domestic enquiry proceeded. as a sequence the petitioner .....
Tag this Judgment!Court : Mumbai
Reported in : 1991(2)BomCR538; [1991(63)FLR111]; (1994)IIILLJ93Bom; 1991(1)MhLj289
..... to look after the office work which included attending to the remittance of contributions under the act, etc., the remittances had been made in due time, that he was engaged in attending to the factory work as also raising of finance from banks and that had the lapse been brought to his notice earlier, he would have ..... effect. it was the lack of such a power which led to the amendments to section 1(4) under the employees' provident fund and miscellaneous provisions (amendment) act, 1988 (act no. xiii of 1988). the amendment came in on 2nd june 1988 and after the said amendment, section 1(4) reads thus:- 'notwithstanding anything contained in sub ..... industry specified in schedule i having a work force of 20 or more persons. in regard to establishments covered by clause (b) of subsection (3), the act becomes applicable where the establishment employs 20 persons or more or belonging to a class or establishment which the central government may by notification in the official gazette, .....
Tag this Judgment!Court : Mumbai
Reported in : 1992(3)BomCR362
..... into operation 'will be implemented without fail. if the tatas are also eager to demolish those units, guided by their own reasons of finance and perspective planning, there need not be any further elaborate discussion about the appropriateness or relevance of that condition. the incorporation of the condition has not been questioned ..... to many slings and arrows from their environmental armoury. 9. on behalf of the state, it was submitted that unit no. 7 was expected to be commissioned in 1994 and that the condition contained in ext. h dated 28-2-1991 that unit nos. 1, 2 & 3 could operate only till the 'combined cycle power put ..... but also to bite, if and when the necessity therefore arises. we trust that in these days of global concern for environmental excellence no enlightened entrepreneur would act in a rash and reckless manner. the credentials of the tatas in devising measures of environmental improvement, in a more liberal manner than is expected of an .....
Tag this Judgment!Court : Mumbai
Reported in : (1994)49TTJ(Mumbai)262
..... 176/86-ck, dt. 1st march, 1986, to cover inputs and end products classifiable under the specified chapters of central excise, tariff act, 1986, by introducing rr. 57a to 57p in the central excise rules, 1944. the finance ministers speech provides the following basis of the scheme :'114. the modvat scheme provides a transparency which discloses ..... and implement the modvat scheme in stages. as a first measure, i propose to introduce modvat scheme for a goods covered by 37 specified chapters of the central excise traffic act, 1985. the scheme as a result would cover products of chemical and allied industries, paints and packaging materials, plastics, glass and glassware, rubber ..... in the finance bill, 1986, realising the vexatious question of taxation of inputs and its cascading effect on the value of final products. the proforma credit scheme, prevailing under r. 56a of the central excise rules, 1994 was a first step towards that. it provided some relief but was restricted to the cases where .....
Tag this Judgment!Court : Mumbai
Reported in : [1994]206ITR291(Bom)
..... assessee. on appeal by the assessee, the disallowance was upheld by the appellate assistant commissioner. the reasoning of the appellate assistant commissioner was that the transaction of providing finance to the othercompany was of an investment nature and the asset, viz., the debt due to the assessee by messrs. dempo and souza ltd., was an asset of ..... that the loss incurred by the assessee on account of devaluation was a revenue loss and hence an allowable deduction in computing its income under section 28 of the act. accordingly, the tribunal set aside the orders of the appellate assistant commissioner and the income-tax officer and allowed the claim of the assessee.6. aggrieved by ..... enhancement of the liability due to devaluation was a business loss which was allowable as a deduction in arriving at the real business income under section 28 of the act. the tribunal found force in the assessee's submission. on a perusal of the facts, the tribunal observed that though the loan of $7,00,000 .....
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