Judgment Search Results Home > Cases Phrase: financial non viability Court: chennai Page 1 of about 85 results (0.050 seconds)

Consolidated Investments Ltd. Vs. Deputy Commissioner of Income Tax.

Court : Chennai

Reported in : (1996)56TTJ(Mad)628

..... this being the three concept of financial non-viability as understood by men of business and commerce and financial institutions it was by reference to the several tests or criteria adopted by them that the question whether a particular undertaking was financially non-viable at a given point of time, had to be decided ..... considering the objects of the assessee-company and the substantial nature of the interest it held in the loanee company and the commitment it had given to the financial institution for purposes of obtaining facilities for the loanee company, we hold that the assessee-company was guided by the dictates of commercial expediency in not charging interest on its loans to unitel communications ..... if they showed positive figures the units financial viability would be sound; where one of the three aspects showed a negative figure the unit could be regarded as tending towards sickness; when two of the three aspects showed negative figures, it would be a case of incipient sickness ..... such is the undertaking given by the assessee-company to the financial institution in respect of loans and advances granted to unitel communications ..... the other company, namely, unitel communications was not financially viable and was facing resource crunch as seen from the balance sheet produced before ..... addition, the cit(a) on a scrutiny of the balance sheet of the assessee-company held that the assessee did not have any non-interest bearing funds from out of which the advances could have been made. .....

Neyveli Lignite Corporation Limited (a Govt. of India Enterprise) and ...

Court : Chennai

Reported in : 2009(242)ELT487(Mad)

..... only the plant later on was closed because of financial non-viability and therefore, according to nlc, in fact, when the adjudication by the customs authorities and the dri is complete, it would be seen that even the differential duty need not ..... dismantling the machinery and plant because for a long time, nothing could be done because of the conduct of nlc and though notional possession was given in may 2005, that is of no avail because of the non-viability of documents and certain statutory requirements. ..... counsel appearing for mmt submitted that inspite of a recommendation by the disinvestment commission that the fertilizer plant was not financially viable and had to be disposed of, the import was made in the year 1999. ..... this if the parties have recorded their satisfaction regarding the financial claims, there will be no question of any issue remaining ..... other hand, according to mmt, the arrangement with stc was purely a financial arrangement and nothing more. ..... the powers of the financial commissioner to grant liquor licences by auction and to collect licence fees through the medium of auctions cannot by writ petitions be questioned by those who, had their venture succeeded, would have relied upon those ..... there was a financial arrangement between mmt ..... the sense whether the parties have already concluded the transaction and have recorded satisfaction of their mutual rights and obligations or whether the parties concerned have recorded their satisfaction regarding the financial claims. .....

Devi Match Factory and ors. Vs. Superintendent of Central Excise, Satt ...

Court : Chennai

Reported in : 1983(12)ELT99(Mad)

..... which clause (i)(d) alone is relevant for our purpose and that reads as follows : 'nothing contained in the foregoing clauses shall apply to any factory other than the factories - * * * * (d) whose production during any financial year does not exceed or is not estimated to exceed 100 million matches and are recommended by the khadi and village industries commission for exemption under this notification as a bona fide cottage unit or which is set ..... the proviso and the explanation to this notification made by differentiation read as follows : 'provided that (i) matches referred to in category 2 and cleared for home consumption during the financial year from a factory from which the total clearance of matches during that year is not as per declaration made by the manufacturer under this notification, estimated to exceed 75 million matches, shall be allowed to be cleared at the ..... prices that may be fixed by the kvic from time to time which shall ensure a fair reasonable margin of profit to the unit and shall be fixed by the kvic after obtaining the advice of the financial adviser to the kvic and after consulting a committee (which would include representatives of the cottage match associations, if any, of the state) regarding the cost on production. ..... central excise : 1978(2)elt429(sc) , the supreme court rejected this contention observing : 'there is no doubt, that in the past amount the non-mechanised manufacturers of matches a further classification based on viability had been made. .....

L. Justine and anr. Vs. the Registrar of Coop. Societies and Two ors.

Court : Chennai

Reported in : (2003)ILLJ284Mad; 2002(4)CTC385

..... of 1981 and it was held (1) the explanation to section 3 is incapable of enforcement and must therefore be held to be redundant, (2) the provisions of section 3 (2) of the act are valid except that the clause 'or on account of non-employment or discharge of such workman for a period which does not exceed three months and during which period a substitute has been employed in his place by the employer' is void on the ground that it amounts to an unreasonable ..... the process, the very financial viability of the scheme was affected ..... feature in all the above governmental orders is to the effect of ratifying the appointments made to the cooperative societies and authorising regularisation of their services condoning the lapse of only non-drawal of the candidates from the employment exchanges subject to a condition that such recruits should possess all the qualifications prescribed for the post. ..... it was emphatically ruled by the supreme court that any posting which is de hors the budgetary grant and on a non-existing vacancy would be outside the sanctioned scheme and would remain totally unauthorised and no right would accrue to the incumbent of such an imaginary or ..... the supreme court held that when plan expenditure is required to be incurred, budgetary sanction is a sine qua non and that it is axiomatic that unless there is vacancy, there is no question of filling it up and there cannot be any employee when no vacancy or post available on which he can work and can be paid as per the .....

The Management of Gordon Woodroffe Limited Vs. Government of Tamil Nad ...

Court : Chennai

Reported in : (1997)IILLJ64Mad

..... in that letter, the petitioner has stated that the reason for the heavy loss was, excess manpower, low productivity, high wages, non-cooperative, adamant, negative attitude of the union towards constructive suggestions of the management for viability and unwanted and uncalled for interruptions and stoppage of work done by the union and workmen etc. ..... keeping this in mind and also having in view the long term viability, the management proposes the following steps to be accepted by the union such as 1. ..... on december 19, 1994, they also informed the commissioner of labour about their financial position; and how far bifr has considered the question. ..... 16.20 crores, and during the financial year 1994-95, the loss was estimated at rs. ..... on december 16, 1994, the petitioner again wrote to the assistant commissioner of labour-i stating its case and also alleging the attitude of the workmen resorting to illegal strike and how far it affected the financial position of the company. ..... it is said that in view of the various acts and omissions by the employees, the customers lost faith and confidence in the capacity of the petitioner to complete job works, and the same has completely shattered the financial position of the company. ..... the bifr passed an order on june 16, 1994 sanctioning a fresh scheme of rehabilitation of the petitioner-company, and the petitioner, not satisfied with the same, preferred an appeal before the appellate authority for industrial and financial reconstruction as appeal no. .....

Thyssenkrupp Industries India Pvt Ltd. Vs. State of Tamil Nadu, repres ...

Court : Chennai

..... very purpose and object of incorporating various tender conditions is to ensure the resourcefulness, capability, financial viability and technical feasibility of the bidders by subjecting them to adopt various guidelines and instructions. ..... according to the petitioner, as per the revised schedule, the evaluation of financial bid has to be conducted on 14.09.2015 and negotiation and finalising the party has to be done on 19.09.2015, but the same was not done as per the revised ..... to the petitioner, in the tender stage, the qualified applicants will be called upon to submit their technical and financial offers in respect of the project which is collectively called tender documents. ..... shah investments financial developments and consultants private limited and others) reported in (2015) (12) scale 538 wherein it was categorically held that evaluating tenders and awarding contracts are essentially commercial functions of the state in which the principles ..... , the board decided that such post bid justification for errors in non-mandatory information cannot be entertained to declare the petitioner as l1. 12 ..... senior counsel for the petitioner would vehemently contend that the terms and conditions are incorporated in the tender document to have a check and balance to accurately estimate the capacity and viability of accepting a tender. ..... it is done, it would create justifiable doubts in the minds of other bidders rendering the procedures adhered to by the corporation as non-transparent and unfair. .....

Southern Structurals Staff Union Vs. Management of Southern Structural ...

Court : Chennai

Reported in : [1994]81CompCas389(Mad); (1994)IILLJ1243Mad

..... a committee appointed by the state government in the year 1988, when the state was under president's rule, comprising retired and serving senior officers, to study the viability and usefulness of government controlled corporations, had opined that it was not desirable for the government to run this company and that efforts may be made to transfer the same to any other public sector company. ..... the chartered accountants, who carried out a techno-economic viability study of the company for the operating agency have opined that the company is capable of being revived in the public sector and made viable if : (a) the government of tamil nadu is willing to give the financial concession/assistance and make structural changes in the management of the company, as proposed in the scheme. ..... the said operating agency, as also the financial institutions, idbi, ifci, icici and the commercial banks, have declined to extend any further financial assistance to this company as large amounts advanced by them in earlier years and the interest accrued thereon still remains outstanding. 5. ..... (c) the employees of the company are willing not only to agree for non-revision of pay structure for a period of five years but also increase productivity and comply with the other matters mentioned in this scheme. ..... (d) the term-lending financial institutions are willing to give the concessions as mentioned in this scheme. .....

Noorul Islam Education Trust, Nagercoil Vs. Government of Tamil Nadu a ...

Court : Chennai

Reported in : AIR1991Mad141

..... it is seen from the copy of the report submitted by the expert committee, the following conclusions are reached by the committee among others; with reference to the financial soundness of the organisation, it is stated as follows :'excepting the statement that they will be able to mobilise funds from jamaaths, the committee could not visualise any identifiable guaranteed resources either for capital investment or for ..... 17-4-1984, the government of tamil nadu passed a general order approving the proposal of the director of technical education for starting new private engineering colleges in the state with effect from 1984-85 without involving any financial commitment to the government; both under recurring and nonrecurring items, subject to the conditions stipulated in the g.o. ..... 'as regards financial and academic viability of the college, the committee observed thus :'as dismissed (discussed? ..... the substance of the reply affidavit is that the financial position of the petitioner trust is sound enough to commence and run the college as proposed and there is no basis for any apprehension on the part of the respondents that the conditions imposed by them will not be fulfilled by ..... will come forward and donate liberally for creating the infrasturcture and also the running cost of the college, the trust could not produce any assured source of income both, for creating the non-recurring infrastructure and for running the institution. .....

Noorul Islam Education Trust Rep. by Its Chairman, Majeed Khan Vs. the ...

Court : Chennai

Reported in : (1990)2MLJ105

..... it is seen from the copy of the report submitted by the expert committee, the following conclusions are reached by the committee among others; with reference to the financial soundness of the organisation, it is stated as follows:excepting the statement that they will be able to mobilise funds from jamaaths, the committee could not visualise any identifiable guaranteed resources either for capital ..... the government of tamil nadu passed a general order approving the proposal of the director of technical education for starting new private engineering colleges in the state with effect from 1984-85 without involving any financial commitment to the government, both under recurring and non-recurring items, subject to the conditions stipulated in the g.o. ..... the substance of the reply affidavit is that the financial position of the petitioner trust is sound enough to commence and run the college as proposed and there is no basis for any apprehension on the part of the respondents that the conditions imposed by them will not ..... as regards financial and academic viability of the college, the committee observed thus.as discussed in the fore-going paragraphs, the organisers are confident of raising enough resources through donations from the muslim jamaaths and ..... and donate liberally for creating the infrastructure and also the running cost of the college, the trust could not produce any assured source of income both, for creating the non-recurring infrastructure and for running the institution. .....

Dravida Munnetra Kazhagam and ors. Vs. the Tamil Nadu State Election C ...

Court : Chennai

..... directions were also issued specifying that the private videographers to be hired shall be screened thoroughly as to their professional competence, track record and financial viability. ..... it is not proved to the satisfaction of the court that the result of the election insofar as it concerns a returned candidate has been materially affected, the election of the returned candidate would not be liable to be declared void notwithstanding non-compliance with the provisions of the constitution or of the act or of any rules of the 1961 rules or orders made thereunder.24. ..... in these batch of writ petitions and contempt petitions, the main question that falls for determination is whether non-compliance of the directions issued by the high court with respect to compulsory videography and uniform distribution of police force requisitioned from other states would automatically nullify the election without any proof ..... it is true that if clause (iv) is read in isolation, then one may be tempted to come to the conclusion that any non-compliance with the provisions of the constitution or of the 1951 act or any rules of the 1961 rules or orders made under the act would render the election of the returned candidate void, but ..... the supreme court observed:-"23.it may be mentioned that here in this case non-compliance with the provisions of the representation of the people act, 1951 and the elections rules of 1961 was by the officers, who were in charge of the conduct of the election and not by the .....