Judgment Search Results Home > Cases Phrase: industrial development bank of india act 1964 repealed section 13 grants donations etc to development bank Page 1 of about 261 results (0.268 seconds)

White Circles Oxides Ltd., Rep. by Its Managing Director, M.V. Ramana ...

Court : Andhra Pradesh

Reported in : 2008(2)ALT257

..... certain preliminary submissions are made which are as under:(i) it is stated that the idbi was a statutory corporation established by the industrial development bank of india act, 1964. ..... further, strong reliance is placed at paragraph 6 of the proceeding which reads as under:pursuant to the industrial development bank of india (transfer of undertaking and repeal) act, 2003 (hereinafter referred to as 'the transfer act') read with the notification dated 29.9.2004 issued by the central government, with effect from 1.10.2004, the undertaking of idbi has been transferred to and vested in the industrial development bank of india ltd. ..... it may be mentioned that assistance under venture capital fund scheme is not to be regarded as a grant but as a loan to be repaid in a definite time schedule and interest thereon serviced regularly. ..... pending reference and after declaration of the company as a sick company under section 3(1)(o) of the sica, any proceedings for recovery would be barred under section 22 of the sica, which states that there shall be suspension of all legal proceedings, contracts, etc. ..... as you expressed difficulties in repayment of the financial assistance and payment of interest and other monies due under the loan agreement at your request, idbi on two occasions vide its letters dated 23.1.2004 and 31.3.2005 granted to you certain reliefs and concessions viz. .....

All India Idbi Officers Association Through Its General Secretary vs.u ...

Court : Delhi

..... , the industrial development bank of india act, 1964 (the idbi act, 1964) was repealed by virtue of section w.p. ..... said proposal did not materialise as at the material time, the reserve bank of india did not grant the necessary permission.56. ..... in india issued by him or by an insurer whose business he has acquired and in respect of which he has assumed liability, life in the manner following, namely, twenty-five per cent of ..... the petitioner also impugns the permission granted by respondent no.6 (insurance regulatory and development authority of india hereafter irdai ) to the lic to acquire more than 15% of the equity share capital ..... and the amount required to meet the liability on policies of life insurance maturing for payment in india, less- (i) the amount of premiums which have fallen due to the insurer on such policies but have not been paid and the days of grace for payment of which have not expired, and (ii) any amount due to the insurer for loans granted on and within the surrender values of policies of insurance maturing for payment ..... the meetings of the board of lic held on 16.07.2018 clearly indicates that the lic s board decision to grant approval was after deliberation and after the lic s board was fully apprised of the affairs of idbi ltd. .....

Srishti Pandey Vs. Idbi Bank Ltd and Ors.

Court : Delhi

..... subsequently, the industrial development bank of india act, 1964, the statute under which the industrial development bank of india was established, was repealed by virtue of industrial development bank (transfer of undertaking and repeal) act, 2003 and the undertaking of industrial development bank of india stood vested with industrial development bank of india ltd. ..... further, as per section 6, all fiscal and other concessions, licenses benefits, privileges and exemptions granted to industrial development bank of india, in connection with the affairs and business of industrial development bank of india under any law for the time being in force shall be deemed to have been granted to industrial development bank of india limited. ..... the petitioner has also challenged execution of the eviction order as being illegal on the ground that the mandatory time of 15 days was not granted to the petitioner and further the belongings of the petitioner at the said premises were unauthorisedly removed contrary to section 6 of the act.8. ..... by virtue of section 13 of the industrial development bank (transfer of undertaking and repeal) act, 2003 the name of industrial development bank of india limited was substituted in place of industrial development bank of india in every act, rule, regulation or notification in force on the appointed day . .....

Southern Petrochemicals Industries Corporation Limited Vs. Administrat ...

Court : Mumbai

Reported in : AIR2005Bom65; I(2005)BC557; 2004(6)BomCR557; [2005]127CompCas920(Bom); 2005(1)MhLj813

..... institution, namely :-(i) the industrial credit and investment corporation of india limited, a company formed and registered under the indian companies act, 1913 (7 of 1913);(ii) the industrial finance corporation of india, established under section 3 of the industrial finance corporation act, 1948 (15 of 1948);(iii) the industrial development bank of india, established under section 3 of the industrial development bank of india act, 1964 (18 of 1964);(iv) the life insurance corporation of india, established under section 3 of the life insurance corporation act, 1956 (31 of 1956);(v) the unit trust of india, established under section 3 of the unit trust of india act, 1963 (52 of 1963);(vi) the infrastructure development finance company limited ..... the unit trust of india (uti) was a body corporate under the provision of the unit trust of india act, 1963 which is since repealed by the provisions of the unit trust of india (transfer of undertaking and repeal) act, 2002 (hereinafter referred to as 'the said uti act of 2002'). ..... the petitioner is a public limited company incorporated and registered under the companies act 1 of 1956 and is inter alia engaged in the manufacture and distribution of fertilizers, pharmaceuticals products, etc. .....

industrial Finance Corporation of India and Another Vs. Century Metals ...

Court : Delhi

Reported in : AIR1990Delhi186; II(1992)BC546; [1992]73CompCas630(Delhi)

..... it is further revealed in the petition that respondent 1 had also taken a loan from industrial development bank of india, a body corporate established under the industrial development bank of india act, 1964, (hereinafter referred to as the bank), which loan was secured under indenture of mortgage dated 2nd march 1974 executed by respondent i in favor of the bank with the result that properties of respondent i are mortgaged to the ifci and the bank on pari passu basis. ..... under the provisions of the interest act, was controverter on the plea that neither the provisions of usurious loans act nor that of interest act were applicable to the present loan transaction, which is an industrial and commercial loan, and the rate of interest was fixed with the approval of the industrial development bank of india in terms of the rules framed under the act, which have overriding effect over any other law for the time being in force in terms of s. ..... the plea is that the provisions of section 30 of the act are discriminatory and vocative of the fundamental rights granted to the company under article 14 of the constitution, and that right of defense against the claim vested in the present respondent cannot be unreasonably curtailed or abridged by the arbitrary provisions of s. ..... it is empowered under the act, inter alia, to grant loans or advances to industrial concerns on the security of mortgage, pledge, hypothecation etc. .....

Southern Petrochemicals Industries Corporation Ltd. Vs. Administrator ...

Court : Supreme Court of India

Reported in : AIR2007SC533; II(2007)BC83; [2007]135CompCas474(SC); 2007(1)CTC425; (2007)2SCC282; [2007]75SCL467(SC); 2007AIRSCW83; 2007LawHerald(SC)78; 2007(3)KCCRSN104; 2007(2)AIRKarR39; JT2007(1)SC372

..... (2) the provisions of (his act or the rules made thereunder shall be in addition to, and not in derogation of, the industrial finance corporation act, 1948 (15 of 1948), the stale financial corporations act, 1951 (63 of 1951), the unit trust of india act, 1963 (52 of 1963), the industrial reconstruction bank of india act, 1984 (62 of 1984) 2[, the sick industrial companies (special provisions) act, 1985 (1 of 1986) and the small industries development bank of india act, 1989 (39 of 1989)]. 18. ..... the factual background in which these questions arise is as follows:under a common loan agreement dated october 1, 1992 executed between the unit trust of india (for short 'uti'), the industrial development bank of india (for short 'idbi') as the lead institution, ifci, respondent no. ..... industrial development bank of india and ors. ..... the unit trust of india act, 1963 was repealed and the board of trustees referred to in section 10 of the said act stood dissolved.6. in o.a. no. ..... the scheme of the act discloses that the unit trust of india created under the unit trust of india act, 1963 ceased to exist and in its place the specified company and the administrator of the specified undertaking of the trust were created which took charge of all the properties, business assets, rights etc. ..... special leave granted.2. .....

Widia (India) Limited Vs. the Chief Commissioner of Income Tax

Court : Karnataka

Reported in : ILR1998KAR1887; [1998]233ITR1(KAR); [1998]233ITR1(Karn)

..... rate of depreciation at 5% on the value of the plant and machinery, it is contended that the assessee is also entitled for depreciation and investment allowance claimed by the assessee on the capitalised amount by deferred interest payable under the industrial development bank of india loan scheme. ..... whether, on the facts and in the circumstance of the case, the appellate tribunal is right in law in allowing depreciation and investment allowance claimed by the assessee on the capitalised amount by deferred interest payable under the industrial development bank of india loan scheme?4. ..... cost to the assessee less all depreciation actually allowed to him under this act, or under the indian income-tax act, 1922 (11 of 1922), or any act repealed by that act, or under any executive orders issued when the indian income-tax act, 1886 (2 of 1886), was in force;provided that in determining the written down value in respect of buildings, machinery or plant for the purposes of clause (ii) of sub-section (1) of section 32, 'depreciation actually allowed' shall not include depreciation allowed under sub ..... he is not entitled for the weighted deduction on the credit amount for the packages as none of the clauses of section 35b provides for such relief to be granted. ..... the assessee claimed that, as a consequence, the cost of acquisition of the machinery should be revised and it is on the revised actual cost the investment allowance and depreciation should be granted for the assessment year 1979-80. .....

Technology Development Board a Body Corporate Constituted Under the Te ...

Court : Karnataka

Reported in : 2007(4)KarLJ601

..... the appellant, the venture capital fund (vcf) formed under the research & development cess act, 1986 (r & d act) was part of the fund established by industrial development bank of india (idbi), than a statutory corporation established under the industrial developments bank of india act, 1964 (18 of 1964) (idbi act)(since repealed) with the central government holding majority shares. ..... under the companies act, 1956(1 of 1956) and banking company within the meaning of section 5(c) of the banking regulation act, 1949 (10 of 1949) pursuant to the industrial development bank (transfer of undertaking and repeal) act, 2003 (53 of 2003) (idbi repeal act). ..... in the said order, the learned judge would hold that the present situation is not one which compels this court to exercise its jurisdiction under section 433(e) of the act for passing an order to windup the affairs of the company, unless the board itself has shown such awareness and was keen that the affairs of the company ..... appellant is a body corporate established under the technology development board act, 1995 for granting assistance in the form of equity capital or any other financial assistance to industrial concerns and other agencies attempting development and commercial applications of indigenous or adapting imported technology ..... made by the respondent idbi granted financial assistance to respondent during 1988 ..... time was granted.thereafter no ..... learned judge has however granted two weeks time to the appellant to place such material .....

Fertilizer Corporation Of India Ltd. Vs. M/s. Coromandal Sacks Private ...

Court : Supreme Court of India

..... industrial reconstruction bank of india act, 1984 was enacted to provide financial assistance to sick industrial companies for their revival. ..... we are mindful of the fact that parliament has incorporated an amendment in the section with effect from 1.2.1994 in these words no suit for the recovery of money or for the enforcement of any security against the industrial company or of any guarantee in respect of any loans or advance granted to the industrial company shall lie or be proceeded with-further, except with the consent of the board, or as the case may be, the appellate authority . ..... subsequently, the 1993 act was repealed by the micro small and medium enterprises development act, 2006 ( msmed act, 2006 ). ..... become sick, it may also make a reference to the board; (iv) establishment of board consisting of experts in various relevant fields with powers to enquire into and determine the incidence of sickness in industrial companies and devise suitable remedial measures through appropriate schemes or other proposals and for proper implementation thereof; v) constitution of an appellate authority consisting of persons who are or have been supreme court judges, senior high court judges and secretaries to the government of india, etc. ..... the handbook of statistics of indian economy published by the reserve bank of india, etc. .....

industrial Finance Corporation of India and anr. Vs. Century Metals Li ...

Court : Delhi

Reported in : 1(1989)DLT550

..... 1 had also taken a loan from industrial development bank of india, a body corporate established under the industrial development bank of india act, 1964, (hereinafter referred to as the bank), which loan was secured under indenture of mortgage dated 2nd march 1974 executed ..... rate of interest was fixed with the approval of the industrial development bank of india in terms of the rules framed under the act, which have over' riding effect over any other law for the time being in farce of terms of section 41-a of the act ..... 2, namely, industrial development bank of india, also filed a reply by way of affidavit confirming the fact that it had granted a loan ..... will be released after the company had appointed suitable persons as technical director and general manager with their approval and further that the company start availing of the loan sanctioned by the industrial development bank of india.(63) mr. h. c ..... -x) to the effect that in joint meeting of the representatives of the corporation, industrial development bank of india ..... that the provisions of section 30 of the act are discriminatory and vocative of the fundamental rights granted to the company under article 14 of the constitution, and that right of defense against the claim vested in the present respondent cannot be unreasonably curtailed or abridged by the arbitrary provisions of section 30 of the act. ..... powered under the act, inter alia, to grant loans or advances to industrial concerns on the security of mortgage, pledge, hypothecation etc. .....