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. .....
Tag this Judgment!Court : Chennai
Reported in : 1999(66)ECC594; 2000(117)ELT4(Mad)
..... exercise of powers by the concerned officer even at the stage of investigation would not only derail and demoralise the investigation and retard the effective enforcement of an important legislation having serious impact upon the economic viability and very development of the nation but also would help real culprits to escape from the clutches of the law with impunity.'18. ..... for achieving the object of such an enquiry if the appropriate authorities be of the view that such persons should be dissociated from the atmosphere and the company of persons who provide encouragement to them in adopting a non-cooperative attitude to the machineries of law, there cannot be any legitimate objection in depriving them of such company. .....
Tag this Judgment!Court : Chennai
Reported in : AIR1991Mad61; [1994]81CompCas446(Mad)
..... (f) the banks were also asked to look into the viability of operations of each of the overseas branches and those of the branches which are non-viable are directed to be closed and that he viable branches are effectively and efficiently managed.' 38. ..... and others, : [1977]1scr1072 , the supreme court declared the law thus: 'where a wrong against community interest is done, 'no locus standi', will not always be a plea to non-suit an interested public body chasing the wrong-doer in court. ..... the financial position of a client with a bank is a highly privileged one and if on an inchoate set of allegations, the deponent is to lay bare several accounts, their business would be immediately adversely affected, ruining them and also the vital interests of .....
Tag this Judgment!Court : Chennai
Reported in : [2001]103CompCas796(Mad)
..... further, the reserve bank of india directives to the banks at best serve as guidelines for nursing sick units and it is up to the respective financial institutions to sanction a nursing loan subject to feasibility, risk taking ability and repaying capacity of the unit as well as other factors governing such advances. ..... having seen the entire material available on record and from the claims and counter-claims of the parties, it is clear that the petitioner herein is aggrieved by the non-furnishing the report submitted by the technical officer after inspecting the unit and he also wants that the respondents should grant appropriate reliefs and concessions as per the directions of the reserve bank of india ..... therefore, unless and until the bank is satisfied as to the soundness of the business propositions there is no compulsion for providing further financial assistance to a sick unit considering the risk involved in the proposal. ..... therefore, unless and until the bank is satisfied as to the soundness of the business propositions there is no compulsion for providing further financial assistance to a sick unit considering the risk involved in the proposal. ..... in such circumstances, it is the categoric contention of the respondents that the plea for further financial assistance at this stage is not maintainable. ..... therefore, his plea for further financial assistance at this stage is not ..... the first respondent deputed one of the technical officers to visit the unit and find out its viability. .....
Tag this Judgment!Court : Chennai
Reported in : [2000]100CompCas1(Mad)
..... 1990, and consequently to direct the first and second respondents to give full effect and implement unconditionally the said order dated june 15, 1990, passed by the appellate authority for industrial and financial reconstruction under the sick industrial companies (special provisions) act, 1985 (act i of 1986), and also by reviewing the sales tax concession granted to the petitioner under the said order dated ..... in fact opposed to the sanctioned scheme, that the impugned conditions laid down by the first respondent are extremely arbitrary, unreasonable and capricious inasmuch as the entire financial liability of the first petitioner is owed to the financial institutions and banks on whose behalf idbi has to monitor the scheme and that the first respondent has not granted any loan to the first petitioner. ..... the appellate authority for industrial and financial reconstruction (aaifr) claiming viability of the mills in the above ..... the appellate authority for industrial and financial reconstruction (the appellate authority) under section 25 of the said act claiming viability of the company in the changed circumstances ..... the third respondent herein to be a director on the board of management of the first petitioner to the extent they are contrary to or inconsistent with the scheme sanctioned by the appellate authority for industrial and financial reconstruction appointed under the sick industrial companies (special provisions) act (act i of 1986), and to quash the consequential g. 0. ps. no. .....
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Reported in : 2009(171)LC254(Madras); 2010(249)ELT324(Mad)
..... , work as 'g' card holder,(or)a person who has passed the examinations referred to in regulation 8(or)a retired group-a officer of the indian customs and central excise service having minimum of ten years experience in group-a, apart from having financial viability and he should be a citizen of india. ..... with a non obstante clause in section 101, the right to apply for and obtain temporary permits under section 87 by private operators was taken away. .....
Tag this Judgment!Court : Chennai
Reported in : AIR2002Mad195
..... the council is required to examine even such proposals thoroughly regarding the viability of such new course or training along with so many other factors like financial resources, available facilities, etc.15. ..... 14 provides that every institution offering or intending to offer a course or training in teacher education has to make an application individually to the regional committee concerned and the regional committee has to be satisfied about such institution having adequate financial resources, accommodation, library, qualified staff, laboratory, etc. ..... it was also pointed out that all these applications were on behalf of the managements who were prepared to start the teachers' training institutes without the aid of the state funds and thereby causing no financial strains on the state economy. .....
Tag this Judgment!Court : Chennai
Reported in : [2002]126STC550(Mad)
..... . it is unthinkable that an unlimited tax deferral would be given particularly where the liabilities of the petitioner-company and its viability were being meticulously tested by the bifr, the government and the idbi ..... the petitioner-company was referred to the board of industrial and financial reconstruction (briefly 'the bifr'). .....
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Reported in : [2008]145CompCas9(Mad)
..... the petitioner submitted that the petitioner tidco being a state owned company and having invested huge amount for promoting the third respondent-company, is to be treated to be a person rendered financial assistance and in terms of section 19(2) of the sick industrial companies (special provisions) act, 1985, consent is necessarily required to be obtained by the operating agency for revival of the ..... the third respondent filed counter affidavit by stating that the writ petitioner tidco, even though is a state level institution, had not provided any financial assistance to come within the purview of section 19(1) of the sick industrial companies (special provisions) act, 1985, but only invested the shares and as such it is a equity shareholder and therefore no consent as ..... of three years, it shall make an offer to the second party pursuant to clause 34(b) for purchase of shares and the same shall be subject to requisite approval of the government of india and the financial institutions/banks, who have granted loan to the company and subject to the provisions of the companies act, 1956 and other acts. ..... that out of the directors nominated or designated by the parties, each party shall have the right to appoint equal number of non-retiring directors subject to the limit prescribed under section 255 of the companies act, 1956. ..... (e) the operating agency was directed to examine the viability for rehabilitation of the third respondent-company and the cut-off date for rehabilitation .....
Tag this Judgment!Court : Chennai
Reported in : (2008)IILLJ1001Mad
..... it was further submitted that contribution of ongc being very minimal, the financial viability of prbs is in doldrums, and in exercise of jurisdiction under article 226 of the constitution of india, the high court has to restrain ongc from making further ..... sundaram and 184 others have challenged the financial viability of prbs before the bombay high court in w.p. ..... /1996 on the file of high court, bombay, challenging the financial viability of prbs and praying not to implement prbs. ..... , the scheme was modified and the writ petition was withdrawn, while so, financial viability of the scheme cannot be challenged. ..... re contention regarding viability of the scheme:financial viability of prbs is the main ground of ..... so, when ongc has agreed to make direct contribution for mitigation of the deficit prbs from out of distributable profits, challenge to the financial viability of the scheme is unsustainable.37. ..... apprehension of the petitioners as to financial viability of the scheme is totally unfounded ..... human resources consulting, the learned senior counsel submitted that pursuant to mou, already ongc has made available huge amount from out of distributable profit and the financial viability of ongc cannot be urged. ..... , human resource consulting was appointed to study the financial strength of prbs and to recommend necessary changes for long term viability of the scheme.34. m/s. ..... 16 of trust deed provided for certain authorized deductions from the amount of pension of non-contributory members. .....
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