Court : Chennai
Reported in : [1985]57CompCas126(Mad); (1984)IILLJ34Mad
..... before out learned brother, ramanujam, j. (see [1984] 64 fjr 140). the learned judge, on an analysis of the shops act and on going through the important provisions of the banking companies (acquisition of undertakings) act, 1970, hereinafter referred to as the nationalisation act, came to the conclusion that the bank of india was an establishment under the government of india and, therefore, section 4 ..... the government and the employees need not detain us. 31. originally banking companies were governed by part x-a of the companies act, 1913. in 1949, the banking regulation act was enacted. therefore, part x-a was repealed. under the banking regulation act, the reserve bank exercised several controls. by the nationalisation act (central act 5 of 1970), if a change was brought about in the structure of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1983SC75; [1983]53CompCas184(SC); (1983)1CompLJ1(SC); (1983)ILLJ45SC; (1983)IIMLJ1(SC); 1982(2)SCALE1144; (1983)1SCC228; [1983]1SCR922
..... this court in the case of hind overseas private limited v. raghunath prasad jhunjhunwala and ors. : [1976]2scr226 :although the indian companies act is modelled on the english companies act, the indian law is developing on its own lines. our law is also making significant progress of its own as and when necessary. ..... against the making of such order. it would be violative of the basic principle of fair procedure and unless there is express provision in the companies act 1956 which forbids the workers from appearing at the hearing of the winding up petition and participating in it, the workers must be held ..... nationalisation as two of the roads to socialism. private corporations hitherto regarded as bastions of private property and leaders of capitalist economy are undergoing transformation and, are surely acquiring the character of public institutions. the public interest element is now quite a predominant factor in the companies act itself. there are several provisions in the companies act .....
Tag this Judgment!Court : Mumbai
Reported in : 2008(3)ALLMR546; 2008(3)BomCR408; (2008)110BOMLR951
..... 11th june, 2007 particularly paragrapah 1(h) of the said affidavit.53. mr.khambata submits that in municipal corporation for the city of pune v. bharat forge company ltd. : [1995]2scr716 , the hon'ble supreme court of india has applied the doctrine of desuetude in respect of notifications issued and gazetted in 1918 by ..... therefore, cannot now treat these lands as private forest is the submission.147. we see no force in this submission either. the private forest (acquisition) act is an act specifically dealing with the private forest, their acquisition and vesting in the state government so also the consequences flowing therefrom. further, it covers this specific aspect ..... legitimate expectation arising from its allotment of plots on the ground that their development scheme under consideration have been found to be in contravention of forest act and aircrafts act. another legal maxim which can be invoked to their aid is 'lex non cogit ad impossibilia: the law does not contemplate a man to do .....
Tag this Judgment!Court : Delhi
Reported in : [1983]53CompCas337(Delhi); ILR1980Delhi1232
..... one takes a few examples. it would be public policy in public interest whether to start an industry of a particular type in public sector or not or to nationalise any private enterprise. generally speaking, government policies are presumed to be made in public interest. having one or two internal public policy would always be regarded as being ..... that the impugned guidelines contained in the circular, ex. a-2, along with its amendments are declared ultra virus and vocative of the provisions of ss. 637aa of the companies act, 1956. we issue a writ of mandamus directing the respondent not to apply the said guidelines in considering the applications moved to it. we further direct the respondent to ..... and before the decision of the supreme court [1977] 47 comp cas 173, reversing the decision of the delhi high court, parliament had brought about a change in the companies act not by the amendment of s. 198 or s. 269 or s. 309 but by enacting s. 637aa. even s. 637a was left as such on the statute .....
Tag this Judgment!Court : Mumbai
Reported in : 2003(4)BomCR202; [2002]112CompCas674(Bom); (2003)2CompLJ210(Bom); [2003]42SCL197(Bom)
..... the economic interest of the opponents as public financial institutions/banks would be jeopardised if the proposed scheme which is in violation of the provisions of the sica and the companies act and is contrary to public interest is sanctioned and hence it should not be sanctioned. shri tulzapurkar also submitted that the decision of the calcutta high court in the case ..... is not sanctioned, the consequence for tomco may be very serious. the shareholders, the employees, the creditors will all suffer. the argument that the company has large assets is really meaningless. very many cotton mills and jute mills in india have become sick and are on the verge of liquidation, even though they have large assets. the scheme has been sanctioned almost .....
Tag this Judgment!Court : Mumbai
Reported in : 2010(1)MhLj73
..... sudhanshu p. purohit. admittedly defendants 3 to 6 are not parties to either the mou or sha. the plaint states that defendant no. 3 is the company incorporated under company's act, 1956 and it is promoted by defendant number 1 and 2. it is engaged in business of promoting timeshares. plaintiff number 3 trade wings hotel's ltd ..... 15.1 contains arbitration clause. applicant also entered into a joint venture agreement with non applicant on 30/9/2004 which envisaged incorporation of a joint venture company and it did not contain an arbitration clause. the applicant however had no claim against non applicant under this second agreement with third agreement known as research ..... of india v. kishori lal gupta and bros. : air 1959 sc 1362 and the naihati jute mills ltd. v. khyaliram jagannath : air 1968 sc 522] this position is now statutorily recognized. sub-section (1) of section 16 of the act makes it clear that while considering any objection with respect to the existence or validity of the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 1996IXAD(SC)415; AIR1997SC1599; 1997(1)BLJR569; JT1996(10)SC584; 1996(8)SCALE472; (1997)1SCC177; [1996]Supp8SCR886
..... court, the argument on behalf of bharat coking coal limited, the appellant was confined to the scope of coal mines (nationalisation) act, 1973. the validity of the finding of the high court that united mining company was a tenant of madanlal agrawal has not been challenged. therefore, the only question that falls for determination before us ..... colliery, which had vested in the central government by virtue of the coal mines (nationalisation) act, 1973. victory colliery was owned by united mining company private limited. the case of the appellant is that the company was practically a one man company. if the corporate veil is lifted, it will be found that madanlal agrawal was ..... a paper transaction and for tax benefit. all the purchases were made by united mining company and sources of investment came from the funds of the said company.3. it may be mentioned that even before the coal mines (nationalisation) act came into force on 1.5.1973, the management of victory colliery along with the .....
Tag this Judgment!Court : Gujarat
Reported in : [1984]55CompCas107(Guj)
..... counsel pointed out that earlier til had declared that it was out of the picture when it realised that the nationalised banks had withdrawn support and that is why after the order of 22nd december, 1978 til too out a company application no. 279 of 1979, dated 29th december, 1979, for withdrawal of the deposit money. the situation ..... ) : 'the function of the court is two-fold. the first function is to determine whether the statutory requirements as laid down in section 391 of the companies act have been complied with. the requirements which have been laid down in section 391 are the sine qua non for sanctioning the scheme. however, even if the ..... co. ltd. [1976] 46 comp cas 227 (guj), the court, while dealing with the question of according sanction to a scheme under s. 391(2) of the act, observed that in exercising its discretion in according sanction, the court will consider, firstly, whether the statutory provisions have been complied with; secondly, whether the classes were fairly .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(4)BomCR414; 2009(111)BomLR502
..... in order to have regard to the realities of the situation. the appellant companies were incorporated under the companies act for a lawful purpose. their property is their own and it vests in them. under section 5(1) of the coal mines (nationalisation) act, 26 of 1973, which applies in the instant case, the right, title ..... has held that due to effect of order under section 5 of coal mines (nationalisation) act (26 of 1973) , rights, title and interests of erstwhile owner of colliery which vested in central government on nationalization get vested in the govt. company. such government company holds the colliery as its own & not on behalf of central government. colliery ..... utilisation of coal resources as best to subserve the common good.(3) under section 5 of the nationalisation act. the acquired properties were vested in a government company in order to carry out more conveniently the object of that act. and for that purpose the properties were freed from all encumbrances by section 6 of the .....
Tag this Judgment!Court : Orissa
Reported in : 1999ACJ76; 85(1998)CLT159; [1996(73)FLR1129]; (1998)IIILLJ1222Ori; 1997(II)OLR473
..... two thousand) the quantum fixed is fair and reasonable. out of thesaid amount a sum of rs. 50,000/- shall be kept in a fixed deposit in a nationalised bank for a period of five years initially, and the balance amount shall be paid to ranjulata in cash on being identified by any of the learned counsel appearing ..... mohanan (1988-ii-llj-177), bombay high court in margarida gomes v. m. mackenzie & co. air 1937 bombay 328, calcutta high court in pasupati dutt v. kelvin jute mills air 1937 calcutta 495, karnataka high court in kaveri structurals v. bhagyam (1977-ii-llj-529) and madhya pradesh high court in reference under section 27 , workmen's ..... . in this appeal under the letters patent, national insurance company limited (hereinafter referred to as 'the insurer') calls in question legality of judgment delivered by a learned single judge of this court in an appeal under section 30(1) of the workmen's compensation act, 1923 (in short, 'the act'). the question involved is a complex one, and being .....
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