Court : Supreme Court of India
..... disowned itself from the admissions of previous management pertaining to settlement of arrears of salary. on 27.2.2017, ramjee issued a demand notice under section 271(1)(a) of the companies act, 2013 read with section 8(1) of the insolvency and bankruptcy code, 2016 (hereinafter referred to as the ibc ) calling upon the corporate debtor to pay dues of ..... would have a substantial voting right. it is further submitted on behalf of d. ramjee that the contention of k.n. rajakumar that since the corporate debtor has taken finance from hdfc bank (respondent no.2 in civil appeal no.1792 of 2021 and respondent no.4 in civil appeal no.2901 of 2021), coc should consist only of hdfc ..... bank, is without merit, inasmuch as the finance taken from hdfc bank was only an interim finance and as such, hdfc bank could not be termed as a financial creditor. it is submitted that the view taken by both nclt and nclat .....
Tag this Judgment!Court : Karnataka
..... file of the xxxiii additional chief metropolitan magistrate, mayohall unit, bengaluru.2. the facts in brief are that the respondent made a complaint under section 138 of the negotiable instruments act ( n.i.act for short) against the petitioners as the four cheques issued by the second petitioner were not honoured and they were returned with an endorsement ..... for transferring the vehicles to the name of the respondent. as undertaken by the first petitioner, he did not clear the dues to m/s tata finance and therefore the said finance company seized the vehicle bearing no.ka-53/ c-5079 from the possession of the respondent. thus the first petitioner became a defaulter by breaching ..... rs.66,00,000/- and further agreed to clear the entire loan amount payable in respect of the said vehicles including the loan payable to m/s. tata finance company and handed over the documents of the vehicles. this agreement was pursuant to mou, and the first petitioner, at the time of handing over the vehicles, .....
Tag this Judgment!Court : Karnataka
..... which is the declared policy of the union government. with respect to airports it is public-private participation, which has been statutorily declared by incorporation of section 12a to the aai act. there is no challenge to the statutory provision. interference to a policy framed by the elected government it is trite, is difficult, and the ..... discussed, decided and recorded. it is pertinent to mention here that after the guidelines, the manual of procurement of goods was issued by goi, 17 ministry of finance and department of expenditure in 2017. as per the manual, bidding system are designed to achieve a balance between countervailing needs of right quality, rights source and ..... ) state of m.p. v. narmada bachao andolan (2011) 7 scc639iii) k.d.sharma v. sail (2008) 12 scc481iv) arunima baruah v. union of india (2007) 6 scc120in light of the aforesaid judgments, the petition deserves to be dismissed. 4627. the kerala high court has dealt in detail the issue of leasing out of the airports .....
Tag this Judgment!Court : Supreme Court of India
..... high handedness of the officials of the corporation and the appellant which led not only to loss of the premises but loss of business as well. section 322 and section 462 of the act read as under: 322. precautions in case of dangerous structures. (1) if any structure be deemed by the commissioner to be in a ..... ) shows that where a premises has fallen down under the circumstances mentioned therein the destruction of the shop itself does not amount to determination of tenancy under section 111 of the act. in other words there is no automatic determination of tenancy and it continues to exist .. (emphasis supplied) 24. in shaha ratansi khimji, the court ..... upon the nature of the impugned order giving rise to a cause of action. the notification dated february 8, 1984 issued by the state government under section 52(1) of the act became effective the moment it was published in the official gazette as thereupon the notified land became vested in the state government free from all encumbrances. .....
Tag this Judgment!Court : Supreme Court of India
..... be entertained and examined on merits, once the court finds that circumstances exist, which may not render the remedy provided under section 17 of the act efficacious.86. in srei equipment finance limited (sefl) v. ray infra services private limited & anr.17 authored by one of us (indira 16 (2018) scc online ker 4913 17. (2016) scc online cal 6765 28 banerjee ..... be entertained and examined on merits, once the court finds that circumstances exist, which may not render the remedy provided under section 17 of the act efficacious.86. in srei equipment finance limited (sefl) v. ray infra services private limited & anr.37 authored by one of us (indira 36 (2018) scc online ker 4913 37. (2016) scc online cal 6765 66 banerjee .....
Tag this Judgment!Court : Karnataka
..... the course of such investigation, summons were issued to the directors and officers of the petitioner company. it is submitted that various offences under section 132(5) of cgst act, 2017 have been committed by the petitioner as well as 'greenfinch'.9. it is specifically asserted that the irregularities on the part of the ..... tax intelligence, hyder abad zonal unit - 500 016 h.no.1-11-222/4, lane opp: hdfc bank.7. the state of karnataka through its principal secretary finance department vidhana soudha, bengaluru - 560 001.8. commissioner of state tax, goods and service tax, bengaluru - 560 071. respondents (by sri m.b. naragund, addl ..... director - legal). petitioner (by sri lakshmikumaran, advocate for sri ravi raghavan, advocate) and:1. the union of india through its revenue secretary, department of revenue, ministry of finance, 128-a/north block, new delhi - 110 001.2. directorate general of goods and services tax intelligence, new delhi, 5th floor, mtnl telephone, exchange building, 8, .....
Tag this Judgment!Court : Supreme Court of India
..... produced or sold. thus, service tax is imposed every time service is rendered to the customer/client. this is clear from the provisions of section 65(105)(zm) of the finance act, 1994. 58 the above formulation of the doctrine of equivalence dwelt on the economic rationale underlying the enactment of service tax. the economic rationale ..... if the amount of the excess is insignificant (emphasis supplied) 27 alan schenk and oliver oldman, value added tax: a comparative approach (cambridge tax law series, 2007) 90 part f60the jurisprudential basis furnishes a depiction of an ideal state of existence of gst legislation within the purview of a modern economy, as a destination-based ..... bench, noted the principle that vat is a consumption tax as it is borne by the consumer. the court observed that with its increasing importance in the 23 2007 (7) scc52761 part e economy, the service sector is occupying the centre stage of the indian economy . as economists postulate, there is no distinction between .....
Tag this Judgment!Court : Supreme Court of India
..... satisfied, including the question of whether the acceptance of the resolution plan by the coc fulfils the criteria laid down under section 7 of the contract act or whether the conditionality of seeking approval from the adjudicating authority makes the resolution plan a contingent contract. our intent of ..... and solutions 127 represented a despondent state of affairs with regard to pendency of applications before the adjudicating authority. it noted128:127. standing committee on finance, seventeenth lok sabha, ministry of corporate affairs, implementation of insolvency and bankruptcy code- pitfalls and solutions: thirty-second report (august 2021) accessed ..... raffles higher education limited; (vii) distribution agreement with digital learning solution sdn bhd; (viii) transactions referred to in the applications filed by international finance corporation, axis bank limited and state bank of india with the hon ble national company law tribunal; and (ix) review of provisions against receivables .....
Tag this Judgment!Court : Supreme Court of India
..... , for any assessment year beginning on or before the 1st day of april, 2001.12. the sub-section (2) and (3) were introduced to the main section by the finance act, 2006 with effect from 01.04.2007.13. the question therefore to be answered is whether section 14a, enables the department to make disallowance on expenditure incurred for earning tax free income in cases where ..... tax exempted income is not allowed as a deduction while calculating total income for the concerned assessee.6. section 14a was introduced to the income tax act by the finance act, 2001 with retrospective effect from 01.04.1962. page 3 of 22 the new section was inserted in aftermath of judgment of this court in the case of rajasthan state warehousing corporation vs. cit1 .....
Tag this Judgment!Court : Supreme Court of India
..... in conflict with public policy of india only when it is induced or affected by fraud or corruption or is in violation of section 75 or section 81 of the 1996 act, if it is in contravention with the fundamental policy of indian law or if it is in conflict with the most basic notions ..... following sums expressed in indian rupees outstanding on the transfer date: a)the principal amount of the debt provided by the senior lenders under the financing agreements for financing the total project cost (the principal ) but excluding any part of the principal that had fallen due for repayment two years prior to the ..... airport, new delhi (hereinafter, amel ). the approximate length of the project was 22.7 kilometers. it was decided to develop the project by engaging a concessionaire for financing, design, procurement, installation of all systems (including but not limited to rolling stock, overhead electrification, track, signaling and telecommunication, ventilation and air conditioning, automatic fare .....
Tag this Judgment!