Judgment Search Results Home > Cases Phrase: government savings banks act 1873 Court: gujarat Page 5 of about 980 results (0.129 seconds)

The State of Gujarat Vs. O.L. of Kengold (India) Ltd. (In Liqn.) and a ...

Court : Gujarat

Reported in : [2009]149CompCas625(Guj)

..... to the effect that the funds lying with the official liquidator in the account of the company in liquidation are in the nature of trust money so far as the sales tax dues of the state government are concerned, secondly the principle of unjust enrichment is certainly applicable to the amount collected by the erstwhile management of the company on account of sales tax and thirdly, the sales tax dues being ..... provisions contained in sections 137 & 151 of the bombay land revenue code on the one hand and the amended provisions contained in sections 529, 529a and 530 of the companies act, 1956 on the other hand, the companies act, 1956 being later in point of time and also being central statute, must prevail upon the bombay land revenue code in view of article 254 of the constitution of ..... crops up, the state government or the central government or the local authority may file their claim before the learned company judge and at that point of time, they may say that in view of their preferential right, either under the local act or under section 530 of the companies act, they be ..... . the court further held that in the case of a claim for the return of trust money from a bank in liquidation the claimant is entitled to recover interest up to the time of payment of the trust money and not only up to the ..... that save and except certain special statutes in relation to recovery of debts, from the properties of a company which has been directed to be wound up, the provisions of the companies act .....

Apurva J. Parekh Vs. Essen Computers Ltd.

Court : Gujarat

Reported in : [2006]129CompCas121(Guj); [2005]61SCL254(Guj)

..... itself as to whether the meeting was duly held and conducted; whether the compromise was real, bonafide, just and equitable; whether it was accepted by a competent majority, whether the majority was acting in good faith and for common advantage of the whole class; what they did was reasonable, prudent and proper; and whether the provisions of the statute have been complied with, whether the ..... the petitioners have not produced the latest balance-sheets and hence, all requisite material contemplated by the proviso to sub-section (2) of section 391 of the act were not placed before the court by the petitioners seeking sanction for such a scheme and the court was not satisfied about production of these requisite materials ..... (7) that the company court has also to satisfy itself that members or class of members or creditors or class of creditors, as the case may be, were acting bona fide and in good faith and were not coercing the minority in order to promote any interest adverse to that of the letter comprising the same class whom ..... if every debtor of the bank is willing to pay back only 2 or 3 % of the outstanding amount, then the burden of the entire non-performing assets will be on the government of india and thereby it will be on the ..... certain creditors of the company from the scheme, namely, lic mutual fund, state bank of india mutual fund, canara bank mutual fund and bank of india mutual fund who are the creditors for the interest amount. ..... preferred only to save their personal property .....

Commissioner of Income-tax, Gujarat Ii Vs. Vimlaben Bhagwandas Patel a ...

Court : Gujarat

Reported in : (1979)GLR413; (1979)0GLR413; [1979]118ITR134(Guj)

..... urged on behalf of the tenant was that the said rule required the town planning officer to issue notice to all persons whose rights in or over the land are affected, and the final scheme sanctioned by the government to the extent if affected the petitioner before the full bench was null and void since there was a breach of such mandatory provision, inasmuch as the petitioner - tenant affected was not served with ..... opportunity of show-cause notice was to be given and also looking to the fact that default in the performance of duties imposed upon the corporation under the corporation act or any other law for the time being in force, the objective facts and the satisfaction of the state government though subjective was required to be arrived at in respect of objective facts, a different principle appears to have been laid down, namely, that the rule of severance and ..... we must agree with the learned advocate for the respondent-transferees that the commissioner had mechanically granted the approval without applying the mind since admittedly the materials in the nature of valuation report of the bank of baroda as well as particulars of the land rates in makarpura and gorva area of baroda city have not been disclosed to the respondent-transferees and, therefore, the order of the commissioner granting approval is without ..... value. it should also be borne in mind that investment in real properties is not necessarily out of the savings or earnings of an .....

Commissioner of Income-tax Vs. Gopal Gram Seva Sahakari Mandli Ltd.

Court : Gujarat

..... interest on deposits (not being time deposits) in a savings account with (a) a banking company to which the banking regulation act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that act); (b) a co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank or a co-operative land development bank); or (c) a post office as defined in clause (k) of section 2 of the indian post office act, 1898 (6 of 1898), there shall, in accordance with ..... members namely: (1) the individuals who contribute their labour or, as the case may be, carry on the fishing or allied activities; (2) the co-operative credit societies which provide financial assistance to the society; (3) the state government; (b) in the case of a co-operative society, being a primary society engaged in supplying milk, oilseeds, fruits or vegetables raised or grown by its members to- (i) a federal co-operative society, being a society ..... engaged in the business of supplying milk, oilseeds, fruits, or vegetables, as the case may be; or (ii) the government or a local authority; or (iii) a government company as defined in section 617 of the companies act, 1956 (1 of 1956), or a corporation established by or under a central, state or provincial act (being a company or corporation engaged in supplying milk, oilseeds, fruits or vegetables, as the case may be, to the public the whole of the .....

Kotak Mahindra Bank Ltd. Vs. O.L. of Aps Star Ind. Ltd.

Court : Gujarat

Reported in : (2009)2GLR1158

..... or not;(iv) the granting and issuing of letters of credit, traveller's cheques and circular notes;(v) the buying, selling and dealing in bullion and specie;(vi) the buying and selling of foreign exchange including foreign bank notes;(vii) the acquiring, holding issuing on commission, underwriting and dealing in stock, funds, shares, debentures, debenture stock, bonds, obligations, securities and investments of all kinds;(viii) the purchasing and ..... or not; the granting and issuing of letters of credit, traveller's cheques and circular notes; the buying, selling and dealing in bullion and specie; the buying and selling of foreign exchange including foreign bank notes; the acquiring, holding issuing on commission, underwriting and dealing in stock, funds, shares, debentures, debenture stock, bonds, obligations, securities and investments of all kinds; the purchasing and selling of ..... of charge registered.that after such modification of charge being registered the modification is required to be communicated to the borrower company and in absence of the same the assignee bank cannot be treated as a secured creditor.8.4) submissions were also made on the provisions of the bombay stamp act and the registration act to submit that remission of duty claimed under the government notification was only applicable in case of a document executed under the securitisation ..... act shall be in addition to, and not, save ..... act are in addition to the provisions of other laws for the time being in force, save .....

Gujarat Water Pollution Control Board Vs. Kohinoor Dyeing and Printing ...

Court : Gujarat

Reported in : (1993)2GLR1368

..... delinquent industrial units, accused of discharging the effluent water in the river also should not take the proceedings in the spirit of confrontation making it a prestige issue and rather should reasonably co-operate in the manner which saves the situation for all, as the managers and the owners of the said units are as much integral part of the society which can also ultimately become the victim of the pollution ..... to determine the point involved, the petitioner-gujarat water pollution control board, surat [for short 'the board'] is a statutory body established under the provisions of section 4 of the water [prevention & control of pollution] act, 1974 [for short 'the act'] for the purpose of prevention and control of water pollution and maintaining and restoring the wholesomeness of water and for the said purpose is conferred with various statutory powers and functions as provided ..... . generally, it is observed that persons who are affected by the pollution are poor residing on the river banks, having no finance nor voice in the government to defend their cause ..... . it is true that ordinarily though the courts of learned magistrates are not vested with such powers, however, such powers in section 33 of the act are saved by virtue of the operations of sections 4 and 5 of criminal procedure code ..... . if this cause of victims is lightly interpreted, it means the cry of poor would be render in wilderness more particularly against the powerful vested interests having access to the government .....

Core Healthcare Ltd. Vs. Standard Chartered Bank and anr.

Court : Gujarat

Reported in : [2001]107CompCas501(Guj)

..... court (page 522 of stc) :'it is, however, equally obvious that while exercising the power under article 226/32 the court would certainly take note of the legislative intent manifested in the provisions of the act and would exercise their jurisdiction consistent with the provisions of the enactment', (page 549 of stc); 'this is for the reason that the power under article 226 has to be exercised to effectuate ..... we need only add that the broad lines of the general principles on which the court should act having been clearly laid down, their application to the facts of each particular case must necessarily be dependent on a variety of individual facts which must govern the proper exercise of the discretion of the court, and that in a matter which is thus pre-eminently one of discretion, it is not possible or even if it were, it would not be ..... joshi, learned counsel appearing on behalf of the petitioner that because of the few holidays intervening it was not possible for the petitioner-bank to approach the appellate tribunal at bombay and to obtain any stay order and therefore the petitioner-bank was constrained to file the present petition along with the prayer for stay of the order passed by the debt recovery tribunal on ..... 18 which oust the jurisdiction and powers of any other court or authority in relation to any order passed under section 17 of the act save the jurisdiction of the supreme court and high courts exercising jurisdiction under articles 226 and 227 of the constitution. .....

Sukhdev Ratilal Patel Vs. Chairman, Bank of Baroda and anr.

Court : Gujarat

Reported in : (1977)IILLJ409Guj

..... section 18 provides that no provision of law relating to binding up of corporation, shall apply to a corresponding new bank and no corresponding new bank shall be placed in liquidation save by order of the central government and such manner as it may direct section 19 which is material provides for power to make regulations. ..... every officer or other employee of an existing bank shall become, on the commencement of the act, an officer or other employee of the corresponding new bank, and shall hold his office or service in that bank on the same terms and conditions and with the same rights to pension, gratuity and other matters as would have been admissible to him if the undertaking of the existing bank had not been transferred to and vested in the corresponding new bank and continue to do so unless and ..... section 9 provides that the central government may, after consultation with the reserve bank, make a scheme for carrying out the purposes of the act. ..... the same result is also reached because these are state agencies or instrumentalities of the state which are created by the statute for administering this act as public authority for public benefit, and to whom statutory powers are given to make these binding regulations under s. .....

Reserve Bank of India Vs. Piramal Financial Services Ltd.

Court : Gujarat

Reported in : (2000)4GLR700

..... been in force for a period of not less than three months; or(d) the continuance of the non-banking financial company is detrimental to the public interest or to the interest of the depositors of the company; may file an application for winding up of such non-banking financial company under the companies act, 1956 (2) a non-banking financial company shall be deemed to be unable to pay its debt if it has refused or has failed ..... provide the directors with an opportunity to enrich themselves at the cost of petty subscribers who in the hope of getting some prizes or rewards and better returns on their hard earned savings (sometimes they may even resort to borrowing in the hope of getting rich quickly) become contributories to various schemes, floated by the company the matter stands on a different footing. ..... in para 28 of thejudgement thus:-'the power conferred by section 58a on the central government to prescribe the limits upto which the manner in which and the conditions subject to which deposits may be invited or accepted by non-banking companies had a definite object, namely, to check the abuse by the corporate sector ..... these directions were effective from may 15, 1987, and govern all the rnbcs which are not administered by either the nbfc directions or the mnbc directions.5.7 in 1987, the parliament enacted the nhb act (provision whereof came into force on different dates from july, 1988 onwards) and established the nhb to operate as principal agency to promote hfis both at .....

Commissioner of Income-tax Vs. Navjivan Roller and Pules Mills

Court : Gujarat

Reported in : [2001]251ITR661(Guj)

..... principal business, hire-purchase transactions or the financing of such transactions ; or(ii) an investment company, that is to say, a company which carries on, as its principal business, the acquisition of shares, stock, bonds, debentures, debenture stock, or securities issued by the government or a local authority, or other marketable securities of a like nature ; or(iii) a housing finance company, that is to say, a company which carries on, as its principal business, the business of financing of acquisition or construction of houses, including acquisition or development of land in connection ..... a company to which the banking regulation act, 1949 (10 of 1949), applies and includes any bank or banking institution referred to in section 51 of that act ;(b) 'deposit' means any deposit of money with, and includes any money borrowed by, a company, but does not include any amount received by the company-- (i) from the central government or any state government or any local authority, or from any other source where the repayment of the amount is guaranteed by the central government or a state government ;(ii) from the government of a foreign state ..... on the other hand, these banks maintain current accounts and savings bank accounts as well.3. ..... , fixed deposit, call deposit, deposit in current account or savings account, is immaterial and irrelevant for determining whether it is a 'deposit' within the meaning of section 40a(8) of the act or not. .....