Court : Mumbai
Decided on : Jun-22-2009
Reported in : [2009]151CompCas446(Bom); [2009]94SCL1(Bom)
..... auditors and majority shareholders of the company. suffice it to observe that no tangible basis is forthcoming as to why the proposed scheme should be approved with amendment of placing time-limit for implementation of scheme and to limit write off securities premium account upto 31-3-2009 and not thereafter. if the equity shareholders ..... the next question is: whether there would be violation of accounting standards. the objection will have to be answered keeping in mind provisions of section 211 of the act. sub-section (3a) thereof stipulates that every profit and loss account and balance sheet of the company shall comply with the accounting standards. sub-section (3b) ..... s intervention. reliance placed on this decision is inapposite. inasmuch as, the observations in this decision are in the context of proceedings under section 392 of the act. as a matter of fact, the supreme court in the same judgment has noted the distinction between the proceedings under sections 391 and 392, as can be .....
Tag this Judgment!Court : Mumbai
Decided on : Jun-23-2009
Reported in : 2009(6)BomCR393; 2009(111)BomLR2869; 2009(6)MhLj388
..... can be no waiver of fundamental right or any right to which the public interest is wedded. very opening words of the land acquisition act, 1894 an act to amend the law for acquisition of law for public purposes read in conjunction with time element incorporated in the provisions governing the process of land ..... , placing reliance on the judgment in the case of hindustan petroleum corporation ltd v. darius shapur chennai and ors. reported in : air2005sc3520 that the said act being expropriatory legislation, it should be strictly construed and given effect to accordingly. according to him, the issue of financial burden on the public exchequer in ..... the process of acquisition, and moreso through invitation of tenders before the process of law for declaring the intended acquisition under section 6 of the said act getting concluded in the manner described hereunder : sr. dates eventsno.1) 06.11.2007 grant of administrative approval to theproposed construction of bridge andexpenditure sanctioned .....
Tag this Judgment!Court : Mumbai
Decided on : Jun-23-2009
Reported in : 2010(1)MhLj948
..... made, in such proceeding shall be binding on all the employees in such undertaking; and accordingly, the provisions of the central act, that is to say, the industrial disputes act, 1947, (xiv of 1947) shall stand amended in the manner and to the extent specified in schedule i.under this section, only recognized union gets exclusive right to represent ..... and p.u.l.p. act was enacted to provide for the recognition of trade unions for facilitating collective bargaining for certain undertakings; to ..... not apply to undertakings in industries to which the provisions of the b.i.r. act apply. the b.i.r. act was enacted to provide for the regulation of the relation of employers and employees in certain matters and to consolidate and amend the law in relation to the settlement of industrial disputes. the m.r.t.u. .....
Tag this Judgment!Court : Mumbai
Decided on : Jun-25-2009
Reported in : 2009(6)BomCR401; 2009(111)BomLR2810; 2009(167)LC80(Bombay); 2009(240)ELT513(Bom)
..... 2004 (164) elt 177 (sc). further reliance is placed on the provisions of sub-section (3) of section 18 of the customs act, 1962 which has been inserted by the taxation laws (amendment) act, 2006 w.e.f. 13.07.2006. it is submitted that if the refund emanates out of finalization of the provisional assessment under ..... assessment had to be refunded till the proviso was added.17. section 27 of the customs act, 1962 was substituted by the central excise and customs laws (amendment) act 40 of 1991 w.e.f. 20.09.1991 and with its subsequent amendments reads as under : 27. claim for refund of duty.(1) any person claiming refund of ..... rebello, j.1. the appellants herein, were formerly known as 'maharashtra distilleries limited' (mdl). they are engaged in the business of manufacture, sale and distribution of indian made foreign liquor (imfl) and have been manufacturing 'royal challenge whisky' since 1982. the manufacture of 'royal challenge whisky' requires the addition of undenatured ethyl alcohol ( .....
Tag this Judgment!Court : Mumbai
Decided on : Jun-26-2009
Reported in : (2009)25VST31(Bom)
..... shall be treated as such for the entire period up to the date of the said order, and the registration certificates of the said companies shall be cancelled, or amended, where necessary, with effect from the date of the said amalgamation order. in other words, it would be clear that section 33c was introduced with a view to ..... other person, the dealer and the person succeeding shall jointly and severally be liable to pay the tax (including any penalty and interest) due from the dealer under this act or under any earlier law, up to the time of such transfer, disposal or changes, whether such tax (including any penalty and interest) has been assessed before such ..... the scheme of amalgamation floatglass india limited was to merge into the petitioner-company. the scheme was approved by a judge of this court exercising jurisdiction under the companies act by judgment and order dated july 24, 2003. in terms of the order of amalgamation, the date of amalgamation was with effect from april 1, 2002.4. .....
Tag this Judgment!Court : Mumbai
Decided on : Jul-03-2009
Reported in : 2009(4)BomCR547; 2009(111)BomLR3154; [2009]151CompCas181(Bom); [2009]94SCL102(Bom)
..... been made out this composite petition is held to be maintainable under section 111a(4)(b) of the act, the parties are at liberty to amend the pleadings/file additional affidavits to prove/disprove their case under section 111a(4) at this stage, further ..... driven to first exhaust his remedy in a civil court or any other forum and thereafter initiate another independent proceeding under the act to complaint about oppression and/or mismanagement, particularly in this matter where the petitioner company lacked the requisite knowledge. the right ..... without addressing the objection raised by the appellants about the maintainability of the petition either under section 397/398 or 111a of the act. significantly, the clb has noted the objections of the appellants regarding the maintainability of the petition in paragraph 38, as follows: ..... a.m. khanwilkar, j.1. this appeal under section 10f of the indian companies act, 1956 takes exception to the judgment and order passed by the member of the company law .....
Tag this Judgment!Court : Mumbai
Decided on : Jul-03-2009
Reported in : 2009(6)BomCR204; (2009)24VST309(Bom)
..... entry in schedule a, or relax or omit any condition or exception specified therein; and thereupon, the said schedule shall be deemed to be [amended accordingly; and the amendment so made shall take effect from the date of the publication of the notification in the official gazette or from such other dates as may be ..... described from time totime in column 3 of thefirst schedule to theadditional duties ofexcise (goods of specialimportance) act, 1957.4. with effect from 1.5.1998, respondent no. 1 amended entry 15 of schedule a vide maharashtra finance act, 1998 certain amendments were made in entry 15 which thereafter read as under:15. (1) fabrics from(2) sugar ..... arbitrary.(c) the principle underlying the guarantee of article 14 is not that the same rules of law should be applicable to all persons within the indian territory or that the same remedies should be made available to them irrespective of differences of circumstances. it only means that all persons similarly circumstanced shall .....
Tag this Judgment!Court : Mumbai
Decided on : Jul-03-2009
Reported in : 2009(111)BomLR3532; (2009)26VST552(Bom)
..... counsel for the petitioner submits that the judgment would not apply to the maharashtra value added tax considering that in kerala the definition of of the word dealer was amended to include a bank or a financial institution which, whether in the course of its business or not, sells any gold or other valuables pledged with it to ..... out in exhibit k to the petition. 3. the learned counsel for the petitioner draws our attention to form no. 311 under the maharashtra value added tax act, 2002 (vat act) which is an application for grant of stay and form no. 312 under rule 33 which is described asadmission memo-cum-stay order under section 26 of the ..... in support of the application for stay. the tribunal must have the material based on which a party is applying for stay. 5. the authorities under the vat act considering applications for stay are exercising quasi-judicial functions. once that be the case, a tribunal exercising quasi-judicial functions,while passing an order on an application for stay .....
Tag this Judgment!Court : Mumbai
Decided on : Jul-09-2009
Reported in : 2009(5)BomCR97; 2009(111)BomLR2842
..... , 2005 granted environmental clearance for development of dighi port development project ( phase - i ) in terms of coastal regulations zone notification, 1991, as amended from time to time, subject to effective implementation and compliance of the conditions stated in the said notification. number of conditions were imposed upon dighi port ..... environmental values. (reference : 'environmental protection and sustainable development : exploring the dynamics of ethics and law' article by arvind jasrotia in journal of the indian law institute, vol. 49 no. 1, page 33).16. besides this, the scope of judicial review in public interest litigation has enlarged with the ..... the future generations and to ensure good quality of life that parliament enacted the antipollution laws, namely, the water act, air act and the environment (protection) act, 1986. these acts and rules framed and notification issued thereunder contain provisions which prohibit and/or regulate certain activities with a view to protect .....
Tag this Judgment!Court : Mumbai
Decided on : Jul-09-2009
Reported in : 2009(111)BomLR3223; 2009(4)MhLj961
..... case of javed niaz beg and anr. (supra), would support the submission made by shri mantri. in the said case, the government notification making amendment to the rules for competitive examinations of civil services, thereby giving option to the candidates to the north eastern states/union territories to take or not ..... to take paper i on indian languages was challenged. the apex court found that the students from this region may suffer serious disabilities if forced to take examinations in the languages ..... of the state government departments, public sector undertakings, local self government, government-aided institutions and cooperative societies specified under section 73a of the maharashtra cooperative societies act, 1960, there shall be not less than five per cent priority quota for the employment of nominees of the affected persons.(b) the beneficiary persons, societies .....
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