Court : Punjab and Haryana
Reported in : (1994)107PLR244
..... be a state within the meaning of article 12 of the constitution of india. learned counsel contended that the insurance company is one of the four insurance companies nationalised under the general insurance business (nationalisation) act, 1972, all the shares of the company are transferred and vested in the central government free of trust and liabilities. the monopoly on insurance business is created in favour of ..... the four companies. the officers and other employees of the company are deemed to be public servants; the indemnification by the central government .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1999]96CompCas460(P& H)
..... to the policies issued by the general insurance corporation of india.30. every policy issued is required to be registered in the records. every insurance company shall maintain the record and under the general insurance business (nationalisation) act, 1972, the central government has got the power to issue directions and the central government also have got the power to control the business of ..... the year 1972 under the provisions of the general insurance business (nationalisation) act, 1972. under the said act, all the business of general insurance including the motor vehicle insurance business shall be regulated by a government company. under section 97 of the said act, the central government shall form a government company known as 'general insurance corporation of india' for the purpose of superintending, controlling and .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1996)IIILLJ1121P& H; (1995)111PLR575
..... . relying on the provisions of section 9, the government company contended that since every liability of the owner prior to the take over was the ..... directed that they shall further vest in a government company known as bharat coking coal company ltd. the industrial tribunal as per its award dated july 1, 1972 directed reinstatement of the workmen. section 9 of the coking coal mines nationalisation act, 1972 whereby the colliery was nationalised is similar to section 5 of the acquisition act with which we are concerned in the present case .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1992P& H243
..... as 'the bank nationalisation act'). the new bank of india, thus, became a corporation established by the central act. the parliament also enacted the burmah shell (acquisition of undertaking in india) act, 1976 (hereinafter referred to as 'the burmah shell act')-3. in february, 1990, a building known as tel bhawan' was constructed by the petitioner-company. it shifted some ..... which defines 'public premises' inter alia shows that any premises 'belonging to, or taken on lease by, or on behalf of any company as defined in section 3 of the companies act, 1956, in which not less than fifty-one per cent of the paid-up share capital is held by the central government' or a ..... public premises (eviction of unauthorised occupants) act, 1971 be invoked by a nationalised bank against the bharat petroleum corporation ltd.? this is the short question that arises in this case. a few facts may be noticed.2. in the year 1965, the burmah shell oil storage and distributing company of india ltd. took on lease the .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2005)139PLR238
..... character' of the land and such a suit is very much maintainable under section 34 of the specific relief act. reliance was placed upon the judgment of the apex court in the case of ashok kumar srivastav v. national insurance company limited, a.i.r, 1990 s.c. 2046 to further contend that even if a suit is not ..... a period of 90 days, the sanction is deemed to have been granted under section 6 of the act. the plaintiff-respondent no. 1 also reiterate its complaint of discrimination as, according to it, sanction was granted to several other projects, companies and individuals but the plaintiff was singled out. based upon these averments, it reiterated its prayer for ..... maintainable under one specific provision of the specific relief act, section 35 thereof enables to open the corridors of civil courts to admit suits filed .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2002]128STC466(P& H)
..... and gains of business. the facts of that case show that the appellant-corporation was formed as a government company under the general insurance business (nationalisation) act, 1972. it carries on general insurance business in india. at the time of nationalisation, the then existing private companies which were carrying on the business of general insurance merged together in four subsidiaries of the appellant-corporation. the ..... central government contributed to the capital of the appellant in the form of preference shares and equity shares for the purpose of paying compensation to the shareholders and the management of the merged companies. the preference .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1984P& H398
..... , which provisions read as under:--'6(3) the said declaration shall be conclusive evidence that the land is needed for a public purpose or for a company, as the case may be; and after making such declaration, the appropriate government may acquire the land in manner hereinafter appearing.'11. their lordships were considering ..... government condones the departure, the decision of government is rightly made final by making the notification conclusive evidence of the compliance with the requirements of the act. it is not necessary to investigate whether a complete lack of observance of the provisions would be afforded the same protection. it is most unlikely that ..... the resolution government satisfies itself about the requirements. the notification is made conclusive proof, that the tax is imposed in accordance with the provisions of the act', posed the question, is this rule of conclusive evidence such as to shut out all enquiry by courts? answering the said question their lordships held that .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2003)IIILLJ386P& H; (2003)134PLR417
..... petitioner would be 58 years of age. the respondents-bank was nationalised under the provisions of section 3 of the banking companies (acquisition and transfer of undertakings) act. 1970 (act no. 5 of 1970). this act came into force w.e.f. 19.7.1969. on the eve of nationalisation, the age of retirement of officers in the respondents-bank was ..... 60 years under section 19(3) of the act, the service conditions of the officers ..... they attained 60 years of age even after nationalization by virtue of sub-section (2) of section 112 of the act. the officers and employees other than (sic including) the award staff recruited after the nationalisation of the banks were required to retire on completion of 58 years of age which was the age of superannuation .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1990]79STC1(P& H)
..... the railway freight shall be nevertheless payable by thestockists at the destinations and the amount of freight shown on the railwayreceipt shall be deducted from the invoice of the company. we request you to despatch on our account and risk bygoods train to.........the whole or any portion of the undermentioned goodsat the prices ruling at the time of ..... to only one construction that it was a contract f.o.r. destination. reliance for this submission was placed on a decision of the madhya pradesh high court in birla jute . v. commissioner of sales tax [1972] 29 stc 639. in this case, the ratio of the supreme court's decision in hyderabad asbestos case [1969] 24 stc ..... be answered in favour of the respondent.6. it will be apposite to notice the various relevant statutory provisions at the threshold.section 2(h) of the central sales tax act, 1956 :' 'sale price' means the amount payable to a dealer as consideration for the sale of any goods, less any sum allowed as cash discount according to .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1992)106CTR(P& H)277; [1993]203ITR150(P& H)
..... the amount cannot be determined with substantial accuracy is a provision (see william pickles accountancy, second edition, page 192 ; part iii, clause 7, schedule vi to the companies act, 1956, which defines provision and reserve).'14. this test has been subsequently followed by their lordships of the supreme court in vazir sultan tobacco co. ltd. v. ..... their lordships of the supreme court in the aforesaid case as follows (at page 422 of 32 comp cas) :'the foregoing narrative would show that the banking companies act, as it stood before the amendment now challenged, had brought the law as to the disclosure of secret reserves and the provision for bad and doubtful debts ..... 72, 1972-73, 1973-74 and 1975-76 qualified as a reserve for inclusion in the capital of the assessee under the second schedule to the companies (profits) surtax act ?' 2. the sole point which requires determination for answering both these questions is whether the amounts set apart by the assessee during each assessment year .....
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