Judgment Search Results Home > Cases Phrase: finance no 2 act 1965 preamble 1 finance no 2 act 1965 Page 1 of about 1,462 results (0.080 seconds)

P. Paliwal and ors. Vs. Hindustan Zinc Limited and ors.

Court : Rajasthan

..... have been made clear in the preamble of the acts of 1965 and 1966 that the company has been formed to fulfill public interest and to sub serve the common good because of the reason that the mci, a company incorporated under the companies act, 1956 was engaged in exploiting lead and zinc from the mines in zawar area in rajasthan and lead and zinc at tundro in bihar and ..... company called the hindustan zinc limited, (respondent), which was formed under the companies act, 1956 in pursuance of section 12 of the metal corporation of india (acquisition of undertaking) act, 1965 which has been declared to be unconstitutional and void, shall be deemed to be and to have been formed under the companies act, 1956, in pursuance of section 12 of the act of 1966 and the undertaking of the metal corporation of india together with all ..... the preamble of the act of 1965 is as under:an act to provide for the acquisition of the undertaking of the metal corporation of india limited for the purpose of enabling the central government in the public interest to exploit, to the fullest ..... the said mci expanded its activities in the field of mines and also constructed zinc smelters near udaipur for producing electrolytic grade zinc and bye-products, but mci for want of finances could not complete the ..... however, for want of finances the corporation was not able .....

Badri Prasad Baldev Prasad Vs. Aerofil Paper Ltd. Industrial Area, Ban ...

Court : Madhya Pradesh

Reported in : AIR1992MP137; 1992(0)MPLJ668

..... the learned counsel for the petitioner has laid emphasis on the preamble to the act which reads as under:--'an act to enable the state government to make special provisions for a limited period in respect of industrial relations, financial obligations and other like matters in relation to industrial undertakings the running of which is considered essential as a measure of preventing, or of providing ..... union of india, air 1970 sc 540, relied on by the learned counsel for the petitioner, their lordships have held (at page 543 (of air)):--'a preamble is a key to open the mind of the legislature but it cannot he .used to control or qualify precise and unambiguous language of the enactment. ..... it is only when there is a doubt as to the meaning of a provision that recourse may be had to the preamble to ascertain the reasons for the enactment and hence the intention of the parliament.'7. ..... in his submission, 'financial obligation' means, an obligation incurred by an undertaking on account of its activities having been financed by a financial institution such as a bank, government, finance corporation etc. ..... mahant kamal puri (air 1965 mp 183), wherein it has beenheld (at page 184):--'the preamble of a statute is a good means of finding out its meaning and, as it were, a key to the understanding of it. .....

Fidelity Fed. S. and L. Vs. De La Cuesta

Court : US Supreme Court

..... congress' intent to supersede state law altogether may be inferred ,because "[t]he scheme of federal regulation may be so pervasive as to make reasonable the inference that congress left no room for the states to supplement it," because "the act of congress may touch a field in which the federal interest is so dominant that the federal system will be assumed to preclude enforcement of state laws on the same subject," or because "the object sought to be obtained ..... in response to concern expressed during the senate hearings that the act did not prohibit borrowers from obtaining financing and then renting the property, chairman stevenson observed: "that would ..... . germain, chairman of the subcommittee on financial institutions supervision, regulation, and insurance of the house committee on banking, finance, and urban affairs and chief sponsor of the bill, agreed: "this restriction applies only to converted mutual savings banks, and congress in no way intends to interfere with the ..... on the earning power and financial stability of federal associations, will impair the ability of federal associations to sell their loans in the secondary markets, will reduce the amount of home-financing funds available to potential home buyers, and generally will cause a rise in home loan interest rates. ..... we conclude that 545.8-3(f) itself supersedes contrary state due-on-sale law; we look to the preamble only for the administrative construction of the regulation, to which "deference is . . ..... ( .....

Everest Woollen Mills Vs. the State of Punjab and anr.

Court : Punjab and Haryana

Reported in : [1966]18STC69(P& H)

..... this act, as the preamble shows, was intended to provide for the levy and collection of additional duties of excise on certain goods and for the distribution of a part of the net proceeds thereof among the states in pursuance of the principles of distribution formulated, and the recommendations made, by the finance commission in its report dated 30th september, 1957, and to declare those goods to be of special ..... it is the free movement or the transport of goods from one part of the country to the other that is intended to be saved, and if any act imposes any direct restrictions on the very movement of such goods it attracts the provisions of article 301, and its validity can be sustained only if it satisfies the requirements of article ..... purports to levy additional duties of excise, nevertheless, it must be construed to amount in pith and substance to a tax under the punjab general sales tax act, and, therefore, the blankets cannot be considered to constitute tax-free goods within the meaning of the latter statute. ..... that the petitioner messrs everest woollen mills, ludhiana, a registered dealer both tinder the punjab general sales tax act and the central sales tax act, deals in the manufacture and sale of woollen blankets and also sometimes manufactures and sells yarn. ..... the budget of the central government as laid before the parliament and reference has also been made to the explanatory memorandum on the budget of the central government for 1965-66 as laid before the parliament.3. .....

Trijugi NaraIn Tewari and ors. Vs. Gorakhpur Kshetriya GramIn Bank and ...

Court : Allahabad

Reported in : AIR1986All115

..... relying on para 15 of the judgment of maganlal chhaganlal (supra), counsel argued that, in fact, the said case supports the petitioners, because in the present case the act provides for a more drastic proceeding in the shape of section 11a and at the same time a milder procedure in the shape of sections 10a, 10b, and 11, without there being any guidelines as to the ..... public moneys (recovery of dues) act, 1965 (act 25 of 1965) providing speedier remedy for recovery of government dues came up for ..... in laying down the law to the above effect, the supreme court had emphasised that the preamble lays down the purpose behind them, that is, the problems belonging to the corporation and the government should be subjected to speedy procedure in the matter of ..... in the former case the supreme court struck down sub-section (4) of section 5 of the taxation on income (investigation commission) act, 1947, holding it ultra vires inasmuch as it deprived a person with a valuable right of appeal which was available to him under the income-tax act, whereas in the latter case the supreme court struck down the tribunal rules as it did not provide for a right toappeal as ..... agricultural credit act, 1973, was passed on the said model bill.the preamble of this act recites :'an act to make provisions to facilitate adequate flow of credit for the agricultural production and development through banks and other institutional credit agencies, and for matters connected ..... problem of rural financing is complex as .....

Smt. Sharda Devi Vs. State of U.P. and ors.

Court : Allahabad

Reported in : AIR2002All1; (2001)3UPLBEC1941

..... of india, constituted under the state bank of india act, 1955, a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959, a corresponding new bank constituted under the bankingcompanies (acquisition and transfer of undertakings) act, 1970, or a banking company as defined in the banking regulation act, 1949, (or a financing bank or central bank as defined in the uttar pradesh cooperative societies act, 1965 not being a land development bank;) (g) 'state sponsored ..... that even though the proceedings initiated for recovery of the loan as arrears of land revenue are without jurisdiction as the loan does not fall within the purview of the act yet the court would shut its eyes and decline to exercise jurisdiction under article 226 of the constitution only on the ground that the borrower owes money to the bank. ..... the preamble of the act reads as follows :-- 'an act to provide, with retrospective effect, for the speedy recovery of certain classes of dues payable to the state government or to the uttar pradesh financial corporation or any other corporation notified by the state government in that behalf of to any nationalised or other scheduled bank or to a government company, and to validate certain acts done and proceedings taken in the past, ..... the preamble of 1961 act shows that it has been enacted to provide for the establishment of a corporation for the purpose of insurance of deposits and guarantee of credit facilities ..... the preamble shows the act has been .....

industrial Finance Corporation of India and anr. Vs. Shama Forge Co. L ...

Court : Delhi

Reported in : 1993IIIAD(Delhi)461; 51(1993)DLT381; 1993(27)DRJ199

..... as a matter of fact assistance provided by ifci in terms of its preamble is a concessional source of finance and it cannot charge interest more than what is prescribed by the act of 1948 and the rules made there under. ..... -in pursuance of rule 6 of the industrial finance corporation rules, 1957, the centrals government hereby notifies that the corporation has, with the prior approval of that government, fixed, with effect from the 5th day of march, 1965, the rate of interest to be charged by the corporation on all the loans and advances granted by it, excluding foreign currency loans or sub-loans, at 8-1/2% per annum, subject to the grant of a rebate of interest at the rate of 1/2 per cent per ..... 'ministry of finance (department of economic affairs) notification new delhi, the 5th march, 1965. s.o. ..... two notifications, both issued under rule 6 dated 9 may 1961 and 5 march 1965 respectively pertain to dollar sub-loan and rupee loan have been brought on record, and these notifications are :- 'f-2(l 102)-corp/60 government of india ministry of finance (department of economic affairs) newdelhi,themay9,1961. ..... ' (23) two notifications - one dated 9 may 1961 and the other dated 5 march 1965, have been brought on record. ..... khanna executed a guarantee on 30 october 1965 in favor of ifci guaranteeing the repayment of loan granted by ifci to shama forge in terms of the conditions of agreement dated 5 november 1965, etc. ..... on 30 october 1965, shama forge, khanna & company and ifci executed a tripartite .....

Bhagavathy Tea Estates Ltd. and ors. Vs. State of Kerala and ors.

Court : Kerala

Reported in : [1989]179ITR508(Ker)

..... there could, therefore, be no scope for doubt that the schedule brought in by the finance act of 1987 should be employed for the computation of the plantation tax for the year 1987-88.34. ..... how come that a similar message was missed when the finance act of 1987 was published due to ignorance or indifference or something worse that is a matter for the government to seriously ponder over.44. ..... the imposition of tariff by the finance act 1987 obligates imposition of the schedule, as provided in the finance act of 1987, for the computation of the tax liability.35. ..... in the present case, the finance act relevant for the assessment year 1987-88 is the finance act of 1987, substituting the schedule as for the assessment year 1987-88, the tax liability is competently altered, as it is a case of 'imposition of a different tariff in the course of the year'. ..... when the finance act of 1987 is passed, the assessing authority is bound to apply the rate relevant for that year as is noticeable from the finance act of that year. ..... there is little justification for hazarding a conclusion that the budget proposals made by the government in the month of march and the pronounced intention contained in the preamble to the enactment had been abandoned by the government and the legislature half way through. ..... state of kerala [1965] klt 944 affirmed that decision.21. .....

Hakim Singh Vs. Shiv Sagar and ors.

Court : Allahabad

Reported in : AIR1973All596

..... of judgments passed by a single judge of the high court in exercise of jurisdiction and powers conferred by or under a particular statute, the legislature which enacted it or which is competent and empowered under the constitution to amend, alter or repeal the act in question, is the appropriate legislature under article 225 and can validly pass a law restricting, curtailing or even abolishing the right to file a further appeal to the high court under clause 10 of the letters patent.the ..... territorial jurisdiction, of the number of learned judges which it should consist of and the financial resources upon which it should draw, and other such matters'.income from court-fee and other heads goes to state finances and similarly the state makes a provision in the state budget for the high court expenses. ..... in this process the preamble to the act and its material provisions can and must be considered. ..... in air 1965 mys 76, the provisions of the mysore civil courts act, 1964, were challenged. ..... similarly, in : [1962]3scr497 and : [1965]2scr756 the clause for finality of the decision of the high court was regarded to bar a letters patent appeal against the decision of a single judge of the high court on the ground that the competent legislature ..... that such laws can be validly made is supported by the decisions of the supreme court in : [1962]3scr497 and : [1965]2scr756 . ..... ishwarlal bhagwandas : [1965]57itr149(sc) ). ..... sarup singh : [1965]2scr756 . ..... kapurchand, air 1965 mys 76. 79. .....

R.D. Aggarwala and anr. Vs. the Union of India and anr.

Court : Delhi

Reported in : ILR1974Delhi520

..... position during april-june, 1966, and the rainy season should be avoided by building up proper storage facilities near the consumption centres when production was good and wagons were available, on the plea of lack of finance; (iii)the industry ignored the directive of the government to continue the system of three differential retention prices, and instead introduced a system of two prices without taking into account properly the resources available to them ..... powers conferred by section 18g and section 25 of the industries (development and regulation) act, 1951 (65 of 1951), and all other powers enabling it in that behalf, the central government hereby makes the following order, namely - (15) the appellants-producers alleged in their writ petitions that cement had been a controlled commodity over a long number of years until december, 1965, that in 1965 the first respondent reviewed the position of production of cement and distribution at fair ..... (12) in order to appreciate the contention, reference has to be made to the provisions in sections 18g(1) and 25 of the aforesaid act as well as the preamble to the cement control order. .....