Court : Andhra Pradesh
Reported in : 1994(3)ALT542; (1995)ILLJ342AP
..... the management had entered into three further agreements with the workers on 20-8-1982, 29-8-1981 and 15-8-1981 under section 12(3) of the act conceding certain demands which involved financial commitments and, therefore, the pleas taken by the management that the settlement dated 29-1-1981 would operate as a bar was untenable. 7. ..... therefore, the constraints on raising any demands involving any financial commitments were confined to the period between 29-1-1981, the date of settlement ..... , during the currency of the settlement which undoubtedly involved financial commitments on the part of the management. ..... by the appellant/management of the singareni collieries was that during he tenure of the settlement under section 12(3) of the act dated 29-1-1981 no demand involving financial commitments could be raised by the unions and all employees, whether or not they are members of the unions, or signatories to the agreement, and they are precluded from raising any further demands which entail, for their implementation, financial consequences. ..... type of grievances since they inevitably entail financial commitments. ..... judge has obviously misconstrued the scope of the settlement by observing :- 'the words relating to the monetary commitment on behalf of the management cannot be stretched to such an extent at to say that the management is absolved for ever of undertaking any financial obligation for the benefit of the workmen in view of the settlement arrived at between the management and the .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2000(5)ALD454; 2000(5)ALT274
..... salary components of these two individuals, the very first note emanated from the department has clearly taken a stand that the posts will be sanctioned without any financial commitment from the government and on the condition that the university meets the salary components of these two individuals from the block grant that is being given to the university. ..... this exercise seems to have been done by the university to impress upon the ugc that they are not going to incur any additional financial commitment forgetting the assurance given by the ugc in letter, dated 5-10-1990, wherein it has expressed its willingness to meet the additional expenditure for the teaching staff as well as the ..... (techl) in the centre for rural development and appropriate technology, sri venkateswara university by meeting the expenditure from the block grants without any additional financial commitment to government either now or in future-matter to be placed again before the council of ministers approved. ..... his proceedings, dated 29-3-1995, requested the ugc to reconsider the issue and accord approval as there is no financial commitment in accepting the proposal as it is within the overall allocation of funds made available to the university. ..... raised by the chief secretary at the earliest and same was taken note of, by the minister concerned and the chief minister while agreeing to create these two posts without financial commitment and that cannot be a ground now to reject the request of the university. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [2008]146CompCas266(AP)
..... has, therefore, failed to fulfil its financial commitments towards the repayment of loans/credit facilities due ..... it is stated that the applicant trust along with other trusts have acquired more than 80 per cent, of the financial assets pertaining to the company in question, and the company is stated to have committed various defaults in payment of amounts to its lenders on account of fiscal mismanagement leading to the said accounts being classified ..... shall satisfy when approached for sanctioning of the compromise or arrangement that the petitioner-company disclosed the court all material facts relating to the company, such as the latest financial position of the company, the latest auditor's report on the accounts of the company, the pendency of any investigating proceedings in relation to the company under sections 235 ..... in re [2004] 122 comp cas 854, a learned single judge of the allahabad high court, while considering the objections with reference to the non-filing of the latest financial statement, after referring to various judgments that are relied upon by the parties, observed that thus, it would appear that as the law stands today, when there is a long ..... regard were hampered by the limited flow out of the ppa entered into by the petitioner-company with the purchaser, the limited holding held by financial institutions in the petitioner-company, the compulsions of retaining assets within the same corporate entity and the necessity of ensuring implementation of the expansion .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR2000P& H226; (2000)125PLR649
..... financial corporation's case (air 1993 sc 1435) (supra) the apex court by observing that the corporation is supposed to act in the best interest of the industrial concern with the object primarily to promote and advance the industrial activity without, of course, undue involvement or risk of its financial commitments, held that power of the high ..... loan or advance or any instalment thereof or in meeting its obligation, in relation to any guarantee given by the corporation or otherwise fails to comply with the terms of its agreement with the financial corporation, the financial corporation shall have the right to take over the management or possession or both of the industrial concern as well as the right to transfer by way of lease or sale and realise the property ..... i find force in the contention of the learned counsel for the respondent-corporation that temporary injunction cannot be granted restraining the corporation, which is a financial institution, from recovering the loan and from taking management and possession of the property mortgaged for realising the loan under section 29 of the 1951 act who ..... (4) where any action has been taken against an industrial concern under the provisions of sub-section (1), all costs, charges and expenses which in the opinion of the financial corporation have been properly incurred by it as incidental thereto shallbe recoverable from the industrial concern and the money which is received by it shall in the absence of any contract to the contrary, .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2003(6)ALD99(SC); 2004(1)ALT29(SC); JT2003(Suppl2)SC170; 2003(8)SCALE229; (2003)8SCC100
..... venture in good faith, keeping in view not only the public good but also in an earnest endeavour to secure such a novel project executed without any financial commitments or expenditure whatsoever either for the installations or subsequent upkeep and maintenance for at least 15 years. ..... when granted in favour of third parties, to be executed with the corporation funds and involving financial commitments or parting with the property or rights and privileges of the corporation for value/consideration, and not to a self-financing scheme to be implemented and maintained without any financial commitments or expenditure to the corporation. ..... time to time, seem to have suggested certain improvements and changes to make it not only acceptable but appreciable and at the same time ensure that no financial commitment strain or involvement was made for the corporation. ..... not only the municipal corporation had no financial commitments in getting such works by any expenditure therefor, which were to be executed by the appellant only on self-financing basis generating the required funds for ..... while having right to dispose of the remaining accommodation at one's own discretion to allottees with occupancy rights therein for 50 years and retain the premia received by way of reimbursement of the financial outlays of the developer plus profits, it was observed that a project, otherwise legal, does not become any the less permissible by the mere reason that the local authority had entered into .....
Tag this Judgment!Court : Karnataka
Reported in : 2000(1)KarLJ224
..... court to the present case it would be seen that the project of the magnitude involved in this petition, the degree of financial outlays and management expertise well beyond the resources of the government, keeping in view the constraint of the finances, the increasing revenue expenditure and other financial commitments, government came to the conclusion that it was well nigh impossible to set apart inputs required for this project. ..... fit and in a given situation it may even turn out to be advantageous for the state to do so, but if any private party comesbefore the state and offers to set up an industry, the state would not be committing breach of any constitutional or legal obligation if it negotiates with such party and agrees to provide resources and other facilities for the purpose of setting up the industry. ..... fit and in a given situation, it may even turn to be advantageous for the state to do so, but if any private party comes before the state and offers to set up an industry the state would not be committing breach of any constitutional or legal obligation if it negotiates with such party and agrees to provide resources and other facilities for the purpose of setting up the industry'.40. ..... state is embroiled in legal battle with tamil nadu in the utilisation of cauvery water and any commitment on the part of the 1st respondent to supply water from the cauvery river will not only diminish and deplete the water supply to the existing ..... financial investment/commitment .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1991SC1153; JT1991(1)SC605; 1991(1)SCALE378; (1991)3SCC91; [1990]Supp3SCR20
..... sri singhvi, for the municipal authority submitted that the execution of the project of this magnitude involved a degree of financial outlay and management expertise well beyond the immediate sources of the municipal council and that though the municipal council had a budget which indicated crores of rupees on the receipt side, the increasing revenue expenditure and other financial commitments rendered it well-neigh impossible to set-apart the financial inputs requisite for this project. ..... sri jain said that the avowed reason why the municipal council did not itself, with all its vast financial resources, undertake the execution of the project was that the municipal council wanted to save itself from the difficulties involved in the process. ..... the contention that was pressed appears to be that the calculations forming the basis of the financial estimates of the project were made grossly under-estimating the probable receipts by way of premia for the grant of occupancy-rights with the intention of giving an opportunity for unjust enrichment to respondent 6 as, according to the appellants, ..... jain stated that the scheme enables respondent 6 to resort to certain well-known financial malpractices for tax-evasion now known to be rempant when properties change hands. ..... 6 could make disproportionately high returns is unfair and that while in respect of some of the shops the financial estimates of the municipal council were built on the expectations of a return of rs. .....
Tag this Judgment!Court : Karnataka
Reported in : ILR2006KAR318; 2006(1)KarLJ1
..... . a reading of items 15 and 16(vi) goes to show whenever there is a financial commitment from the government for the approval of works estimates and proposal relating to existing schemes or establishing a new scheme, cabinet approval is required ..... . in other words, if there is no financial commitment on the part of the government the said matters need not be placed before the cabinet for approval at all ..... . under those circumstances, when the former chief minister himself was the minister-in-charge of bda, when the entire scheme was funded by the funds of the bda and there was no commitment on the part of the government, having regard to the urgency of the matter namely implementation of a housing project which is a public purpose, if the former chief minister has granted the administrative approval subject to approval by the cabinet it ..... in that context it was held that the act of the authority apart from being unauthorised and opposed to the provisions of the act, is nothing but a fraud on the power of the authority and a fraud committed on the general public. ..... the reasons so identified are, absence of or failure to hold regular elections, prolonged supersessions, insufficient representations of weaker sections like scheduled castes and scheduled tribes and women, inadequate devolution of powers and lack of financial resources. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2003(5)ALD471
..... government for necessary orders in the matter.in the circumstances reported in the reference 3rd and 4th cited, the issue has been examined on the lines that since it is an unaided school and there is no financial commitment to government and to encourage such institutions to give better quality education, therefore, the government in exercise of powers conferred under rule 21 of g.o. ms. no. ..... respondent granted permission for upgradation after satisfying with the requirements shown by the fourth respondent and having regard to the fact that the fourth respondent is an unaided institution and there is no financial commitment to the government and permission was granted to the fourth respondent to better the quality of education. ..... plain from the above that the government granted relaxation of rule 4 in favour of the fourth respondent because (i) the fourth respondent is unaided school; (ii) there is no financial commitment to the government; and (iii) to encourage such institutions to give better quality education. ..... so to say, on the ground that there is no financial commitment from the government and on the ground to encourage better quality of education, power ..... section (3) of section 20, an educational agency applying for permission under sub-section (2) should satisfy the authority concerned that there was need for establishing educational institution in the locality, that there is adequate financial provipion for continued and efficient maintenance of the institution etc. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1992SC1435; JT1993(2)SC226; (1993)2MLJ23(SC); 1993(1)SCALE747; (1993)2SCC299; [1993]2SCR149
..... the best interest of the industrial concern with the object primarily to promote and advance the industrial activity without, of course, undue involvement or risk of its financial commitments.... ..... the corporation will be placed before this court.if, however, any offer, as indicated above, is not communicated by the company or sri chaturvedi within a period of three weeks from today, then the financial corporation shall be at the liberty to initiate, with notice to the respondents, steps for the sale by public auction of the subject-matter of the security in its favour and to treat and hold ..... parliament with a view to promote industrialisation of the states by encouraging small and medium industries by giving financial assistance in the shape of loans and advances, repayable within a period not exceeding years from the ..... half yearly rests calculated upto 25.7.1986.if such an offer is made, the financial corporation will assess the merit and acceptability of that offer and take within six weeks thereafter, an appropriate decision including the manner in which and the period over which the payment should be completed, and if the financial corporation agrees to grant time for payment, the rate of interest *# for ..... 1 forthwith.the notice dated 11.6.1986 issued by the corporation under section 29 of the state financial corporation act, 1951 shall, however, remain alive it being open to the corporation to proceed further in pursuance thereof in case the rehabilitation deal is given a fair .....
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