Court : Mumbai
Reported in : [1984]55CompCas281(Bom)
..... in the alternative to prayers (b) and (c) above, liberty be granted to the applicants to propound a fresh scheme of reconstruction under section 391 of the companies act, 1956, within three months or within such time as this hon'ble court deems fit, of the finalisation of the proposal for reconstruction assistance made by the industrial reconstruction ..... the proposal before passing it over to the creditors to use their commercial judgment and express their wishes. looking to the scheme of the provisions of the companies act relating to schemes of compromise or arrangement, i think that the court's role is vital, participation the court's jurisdiction is invoked from the stage of ..... of the central government or of any state government; (c) in unencumbered securities mentioned in clauses (a) to (b) and (ee) of section 20 of the indian trusts act, 1882 (2 of 1882) : provided that with relation to the deposits maturing during the year ending on the 31st day of march, 1979, the sum required to .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1939Bom354; (1939)41BOMLR787
..... cross-objections mr. thakor for the plaintiff has repeated the contention that the wills are void for undue influence. he relies on section 16 of the indian contract act, section 89 of the indian trusts act, and on the equitable rule which has been referred to in shivgmgawa v. basangouda (1937) 40 bom. l.r.132 that when a person ..... going into detail it may be stated that of the four wills executed on september 29, 1925, one, exhibit 35, gives the income of the saraswati oil mills company shares and deposit for the maintenance of the apangashram. another, exhibit 36, gives the shares of the national mills and some other moneys and outstandings for the maintenance ..... , in which ambalal in his lifetime had started a dispensary. the moveable properties consisted of twelve shares in the national mills, ten shares of the saraswati oil mills company which is now in liquidation, a certain amount of outstandings of the deceased ambalal, and two deposit receipts for rs. 10,000 each, one in the name of .....
Tag this Judgment!Court : Mumbai
Reported in : (1885)ILR9Bom373
..... honest and prudent man shrink from accepting such a post. if directors were to be made pecuniarily liable for every slip and error, all prudent men would refuse to act, and companies would be at the mercy of fools or rogues. in laying down any general rule for india as to the duties which ought properly to be imposed on the ..... which as an independent suit would be barred, the amendment would be refused. bat if the amendment is once admitted, i think it follows, from a fair interpretation of the indian act, that limitation must only count from the institution of the suit. moreover, in the present case, the negligence, in respect of the unallotted shares, is too much in part ..... . anderon 1 ch. div. at p. 26. lord romilly says l.r. eq, 11:' directors are responsible as trustees for the employment of funds. in section 88 of the indian trusts act, no. ii of 1877, directors are placed in a list of persons bound in a fiduciary character to protect the interests of others. and the specific relief .....
Tag this Judgment!Court : Mumbai
Reported in : [1970]78ITR450(Bom)
..... the amount of its paid-up share capital and of its recesses in so far as they have not been allowed in computing the profits of the company for the purposes of the indian income-tax act, 1922 (xi of 1922), diminished by the cost to it of its investments or other property the income from which is not includible in the ..... to taxation before they can be added to the paid-up share capital of the company to determine the abatement permissible under the act. if for instance a company had certain reserves created before the indian income-tax act, 1922, came into force, i see no reason why the company cannot claim to add the same to its paid-up capital for finding out the ..... abatement allowable .... after the indian income-tax act of 1922 came into force, it would be open to the company to create reserves out of allowable deduction under section 10(2) of the indian income-tax act as well as out of net profits after payment of the tax. rule 2(1) .....
Tag this Judgment!Court : Mumbai
Reported in : (1937)39BOMLR933
..... on the entally land and also the shebait's house there, subject only to the question, to be dealt with later, of satya's claim under the indian limitation act.11. but different considerations apply with regard to the remaining properties comprised in the deed of dedication and deed of sale. in the first place, throughout the ..... performed and 'at an outlay of reasonable expense' shall entertain brahmins and feed the poor. the deed proceeds. the shebaits shall purchase government securities, that is company's papers, with the surplus annually left after meeting the prescribed expenses.' it provides that when a large amount of money gradually accumulates in this manner, they ..... shebaits should keep accounts and that other heirs shall be competent to inspect the accounts. there is a provision for the removal from office of a shebait acting improperly, and a provision to exclude females from the shebaiti. there is a provision in certain circumstances for shebaits to be appointed by deed. it is .....
Tag this Judgment!Court : Mumbai
Reported in : (1945)47BOMLR941
..... along with him rushed to the rescue of ghulam quasim. the exaggerated circumstances alleged by the prosecution to invoke the aid of section 34, indian penal code, have been found against by the high court who have acted solely on the evidence of p. w. 10 and p. w. 11. there was no evidence to indicate that ghulam quasim was aware ..... 3. the main question raised in this appeal is whether the appellant has been rightly convicted of murder upon the true construction of section 34 of the indian penal code.4. section 34 runs as follows:when a criminal act is done by several persons in furtherance of the common intention of all, each of such persons is liable for that ..... act in the same manner as if it were done by him alone.5. along with the appellant, his cousin ghulam quasim shah, aged eighteen, was also convicted under section 302 34 of the indian penal code and sentenced to transportation for life. ghulam was convicted under .....
Tag this Judgment!Court : Mumbai
Reported in : (1915)17BOMLR676; 30Ind.Cas.652
..... may be, it seems to us that the order is unsustainable upon another ground. the learned judge, though he directs the prosecution, does not specify under what section of the indian penal code the prosecution should be instituted. it is, however, agreed between the learned pleaders that the only section of the code which could be used for such a prosecution ..... order made by the learned district judge of dharwar directing that the appellant should be prosecuted for disobedience of the district court's order made under the guardians and wards act.2. it appears that a temporary injunction was issued against the present appellant directing him not to marry the two minor girls, hanmava and basava, but that thereafter he handed .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1918Bom188; (1918)20BOMLR802; 47Ind.Cas.581
..... minor. the matter comes before us on a reference from beaman and marten jj. who held divergent views on the question as to whether article 91 of the indian limitation act applied to plaintiff's suit. both learned judges have framed questions for decision by this full bench. with great respect to beaman j. i think the question framed ..... who answered it in these words, which i set out because they seem to me decisive of the point now under consideration :- 'as to the point raised on the indian limitation act, 1877, their lordships are of opinion that the conveyance...being an inoperative instrument, as, in effect, it has been found to be, does not bar the plaintiff's ..... aside or cancelled, and that his omission to bring such a suit does not expose his present suit for possession to the bar created by article 91 of the indian limitation act,4. i think that this contention should succeed, and, in my opinion, the question is in substance answered by decisions of the privy council. in bijoy gopal .....
Tag this Judgment!Court : Mumbai
Reported in : (1936)38BOMLR1004
..... or deemed so to be, and which accordingly were not profits or gains to which the act applies; and that the remaining eighty-five per cent, of the company's profits in 1930 were subjected to indian income-tax in the hands of the company in the year of assessment 1931-2. by a similar investigation into the profits and gains of ..... receipts which are not profits or gains within the meaning of the act at all, or at least are not part of the company's ' total income' but profits or gains to which the act does not apply. it is not readily to be assumed that the act intends the indian income-tax authorities to investigate and. settle the exact amount of such ..... of the second proviso to section 8 of the act; rs. 76,500 as dividend derived from distributable profits of the company not taxable in the hands of the company within section 4 (1) of the act; and rs. 3,66,000 as dividend derived from profits and gains of the company chargeable with indian income-tax. the question before the court has .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1917Bom193; (1918)20BOMLR398; 45Ind.Cas.448
..... defendants that the plaintiff's right, if established, 'would tend to the total destruction of the defendants' property ' within the meaning of section 17(a) of the indian easements act may be summarily dismissed.6. the defendants'substantial objection is that the right claimed is really one 'to surface water not flowing in a stream' and hence cannot be ..... . and the lower riparian owner could not complain unless he was injuriously affected in fact. (see kensit v. great eastern railway co. (1884) 27 ch. d. 122). further, as between himself and the lower riparian owners, the grantor might justify the user by a grant from the lower riparian ..... river water so as to affect the lower riparian owners. see ormerod v. todmorden mill co. (1883) 11 q.b.d. 155 and mccartney v. londonderry and lough swilly railway [1004] a.c. 301. but the grant would at any rate be good as against such grantor (see same cases), and i assume also against his sequels in title .....
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