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Commissioner of Wealth Tax Vs. Prince Muffakham Jah Bahadur Chamlijan

Court : Supreme Court of India

Reported in : [2001]247ITR351(SC); JT2001(1)SC144; 2000(8)SCALE210; [2000]Supp5SCR518

..... assessee shall be arrived at by multiplying the average annual income that accrued to the assessee from the life interest by 1/14141 = 1 where '1' represents the annual premium for a whole-life insurance without profits on the life of the life tenant for unit sum assured as specified in the appendix to those rules, and 'd' is ..... n. amarsay and anr. : [1969]71itr180(bom) and expressed its concurrence with the view that the charge of wealth-tax under section 3 of the wealth tax act on net wealth included every description of property of the assessee, movable and immovable, barring exceptions expressly stated. the high court had rightly observed that when the statute ..... or immovable. clause (m) thereof defines 'net wealth' to mean the amount by which the aggregate value, computed in accordance with the provisions of the wealth tax act, of all the assets, wherever located, belonging to the assessee on the valuation date, including assets required to be included in his net wealth as on that date .....

Smt. Kusum Debi Jhinjhani Vs. Smt. Pushpa Devi Khurda

Court : Kolkata

Reported in : AIR1990Cal204

..... court has committed another error in appreciating the two decisions of the madras high court in karuppa gounder v. pal-iniammal, : air1963mad245 and in b.m. mundkur v. life insurance corporation of india, : air1977mad72 . 'moreover, there is one other strong circumstance in this case which dissuades us from taking a view contrary to the decision of all other ..... pp. 349, 350 and 352 of air) :--'we shall now proceed to analyse the provisions of section 39 of the act. the said section provides that holder of a policy of life insurance on his own life may when effecting the policy or at any time before the policy matures for payment nominate the person or persons to whom ..... it difficult to treat a nominee as being equivalent to ah heirs or legatee having regard to the clear provision of section 39 of the act. exemption of money payable under a life insurance policy under the amended section 60 of the code of civil procedure instead of 'de-volving' the earlier decision which upheld the right of .....

Shaan Zaveri and 3 ors. Vs. Gautam Sarabhai Private Limited

Court : Gujarat

Reported in : [2009]150CompCas499(Guj); [2010]97SCL351(Guj)

..... per the agreement dated 18.12.1968 towards sale of the reversionary right. simultaneously, the company had a liability of more than rs. 5 lacs to the life insurance corporation of india under the preliminary mortgage decree. the company had failed to pay any dividend on its equity as well as on preference shares and the company's ..... general meeting of the contributories of the company held on 11.02.2009 (annexure-k) wherein it was resolved that subject to the provisions of the companies act and the directions of this court (which the liquidators of the company shall seek) the special resolution to voluntarily wind up the company passed at the extraordinary ..... of association and to permit the shareholders of the company to elect the members of the board of directors.2. the company was incorporated under the indian companies act vii of 1913 and was registered with the registrar of companies, bombay. the objects for which the company was established have been stated in paragraph 3 of .....

Pankaj Aluminium Industries Pvt. Ltd. Vs. M/S. Bharat Aluminium Compan ...

Court : Delhi

..... made by the respondent. in this connection, mr. krishna kumar relied upon decisions in p.c. agarwala v. payment of wages inspector, m.p. and ors., (2005) 8 scc 104, life insurance corporation of india v. escorts ltd. and ors., (1986) 1 scc 264, indowind energy ltd. v. wescare (i) ltd. & anr., air 2010 sc 1793 and punjab national bank v. ..... a bona fide dispute and the defence is a substantial one, the court will not wind-up the company;(ii) where the debt is undisputed the court will not act upon a defence that the company has the ability to pay the debt but the company chooses not to pay it;(iii) where the defence of the company is in ..... . whether the judgment should be reported in the digest? yes1. the present winding up petition has been filed under sections 433(e) and 434 of the companies act, 1956 (for short "the act").2. the relevant facts of the present case are that both the petitioner and respondent are engaged in the business of manufacturing of aluminium products. during the course .....

Md. Shah Afzal Vs Medical Council of India and anr

Court : Delhi

..... reads as under:-"5. learned counsel for the appellant has also submitted that this court should issue directions for an appropriate amendment in the m.p. municipal corporation act, 1956 so that a person may be debarred from simultaneously holding two elected offices, namely that of a member of the legislative assembly and also of mayor ..... of a municipal corporation. in our opinion, this is a matter of policy for the elected representatives of people to decide and no direction in this regard can be issued by ..... hundreds of years of discrimination and they require definite positive action on the part of the state to enable them to participate in the mainstream of social and economic life. however, beyond reservation there is the further issue of relaxation of standards. there is an argument and a very compelling one, too, that while reservation of .....

M.Praveen Kumar Vs. Tamil Nadu Electricity Board

Court : Chennai

..... family is gainfully employed. clause 4 of the circular dated 20.1.1987 interdicts such an appointment on compassionate grounds. the appellant corporation being a statutory corporation is bound by the life insurance corporation act as well as the statutory regulations and instructions. they cannot be put aside and compassionate appointment be ordered. 14.further it ..... is well settled in law that no mandamus will be issued directing to do a thing forbidden by law. in brij mohan v. m.p.s.r.t. corporation ..... consequently, the impugned order is set aside and the appeal is allowed. no costs. (vi).in the decision of the hon'ble supreme court in life insurance corporation of india v. mrs.asha ramchandra ambekar and another, air1994supreme court 2148 and at special page 2150, in paragraphs no.10 to 15, it is .....

Vijaya Bank and Etc. Vs. Art. Trend Exports and Etc.

Court : Kolkata

Reported in : AIR1992Cal12,(1990)2CALLT55(HC)

..... unflexible view based on misconception or ignorance of the nature of commercial transactions will neither solve the problem of the bank nor the constituent.'9.26 in the case of life insurance corporation of india v. kumar purnendu nath tagore, reported in : air1988cal311 , a division bench of this court was considering the scope of s. 34 of the civil procedure code ..... 3scr607 , the question involved was whether the rate of interest chargeable on the amounts payable under an order passed under s. 32 of the state financial corporation act 1951 from the date of the said order is governed by s. 34 of the code or whether it is payable at the contractual rate. the ..... b. gupta (tea) pvt. ltd., : air1987cal64 ; : air1988cal311 ; united bank of india v. rashyam udyog : air1990cal146 . he has submitted that there is an implied repeal of 1855 act by 1908 act. he has also drawn our attention to united bank of india v. hind hossiery mill (1988) 1 cal lj 69.6.4. mr. p. k. mullick appearing on behalf .....

M/S. Arora and Sons Vs. Debi Prasad Khanna

Court : Kolkata

Reported in : AIR1990Cal216,(1990)1CALLT11(HC),1989(2)CHN27

..... the landlord who was a -member of a co-operative society has been allotted a plot of land upon which he had constructed a house obtaining loan from life insurance corporation. he repaid the loan and became the owner even though a formal deed of transfer had not yet been executed in his favour by the co-operative society ..... including the suit premises and the plaintiff's alleged right in the suit premises is only limited and subject to the provisions of the west bengal co-operative societies act and he has not acquiredabsolute right or interest in the suit property.10. the appeal has been contested by the plaintiff/ respondent. during the hearing the appellant ..... suitable accommodation.4. owing to the reasons mentioned above, the defendant has forfeited all protec-tions against eviction under the provisions of the west bengal premises tenancy act 1956 and has become liable to be evicted from the suit premises. the tenancy of the defendant was determined by a notice date of 6th nov. 1979 .....

Titagarh Paper Mills Co. Ltd. and ors. Vs. Union of India (Uoi) and or ...

Court : Kolkata

Reported in : [1986]59CompCas94(Cal),88CWN650

..... eleven directors, of whom five represent financial institutions, namely, the industrial development bank of india, the industrial finance corporation of india, the life insurance corporation and the industrial credit and investment corporation of india, two from the professional management personnel in the employment of the company, two industrialists and one representing ..... a judicial decision. he has contended that a judicial act is an act done by the competent authority upon consideration of facts and circumstances imposing liability or affecting the rights of others and if a ..... petitioner company. mr. banerjee has also contended that it is well-settled law that the discretion under section 237(b) of the companies act is to be exercised after formation of opinion objectively as distinguished from purely subjective consideration. accordingly, such formation of opinion objectively amounts to .....

Prasar Bharati Broadcasting Corpn. of India Vs. Debyajoti Bose<br>and< ...

Court : Kolkata

Reported in : (1999)2CALLT183(HC)

..... india. the governmental authorities of the state are expected to act not only fairly but its actions should be tested in the touchstone on the anvil of article 14 of the constitution oflndla. a reference is made in this context to the case of life insurance corporation oflndla v. consumer education and research centre, reported in : ..... this context, it has been submitted by mr. mookherjee that prasar bharati (broadcasting corporation of india) act, 1990 has come into force after about a prolonged period of coming into force of the act. it has been hinted at that the act is in an experimental stage and therefore some time should be given so that ..... at theinstance of m/s. rainbow production private ltd., a company incorporated under the companies act and one miss soma mukherjee, one of thedirectors of the petitioner no. 1 company against prasar bharau (broadcasting corporation of india), a body corporate and its numerous office bearers who are figuring as respondents in the said writ petition. .....