Judgment Search Results Home > Cases Phrase: life insurance emergency provisions act 1956 Court: gujarat Page 7 of about 412 results (0.098 seconds)

American Express Bank Ltd. Vs. Core Health Care Ltd.

Court : Gujarat

Reported in : [1999]96CompCas841(Guj)

..... . it is not to lose sight to fact that had the company become sick by erosion of its capital and reaching negative net worth, the provisions of the sick industrial companies (special provisions) act, 1985, would have been attracted making it obligatory upon the statutory authority to explore all the possibilities of reviving the company back to positive net worth within reasonable time, by putting in all embargoes on recoveries of ..... that the petitioner being a secured creditor to a very small extent considering the entire gamut of the respondent - company's business, for which he had already recourse to appropriate remedy for recovery and also in view of the settled provisions of law that he being secured creditor, even in the case of a winding up order of the company being made, can remain outside winding up and recover his debt by realising securities even without approaching the court is ..... , in europe life insurance society, in re [1869] 9 eq 122 as reproduced in a ..... against the company to a winding up order ex debito justitiae, but other creditors of the company have expressed conflicting views as to the desirability of winding it up, the judge has conferred on his a discretion by section 346 of the companies act, 1948, which, leaving out immaterial words, provides : 'the court may have regard to the wishes of the creditors as proved to it by any sufficient evidence'. ..... it may be that despite the inability to pay its debts, a company has still prospects of coming back to life.. .....

Ratilal Fulchand and ors. Vs. Parikh Indravadan Manilal

Court : Gujarat

Reported in : AIR1966Guj133; (1965)GLR796

..... conclusion that, by virtue of that section, diwali must be deemed to have become the full owner of the estate in spite of the fact that she died before the coming into operation of that act as, in the view of the learned judge, the act was retrospective in operation and the section was enacted for the benefit of all hindu widows who were in possession of their husbands' estate even prior to the coming into operation of the ..... he concedes that, having regard to the admitted fact that, on the date on which diwali died, the act had not come into operation and that the act came into operation subsequently on 17th june 1956, when, even if the alienation was not binding, the ground-floor of which diwali was formerly in possession would be in possession of bai chanchal, section 14 of the hindu succession act, 1956, would not conic to the aid of bai chanchal (diwali?). ..... i am unable to draw an inference from the aforesaid provision that the legal necessity was not in existence at all or that the aforesaid alienation was made for any ulterior motive. ..... under the suit transaction the ground-floor of the house was keptwith diwali and she was given a right to residetherein for her life-time. ..... in this case, it was decided that, under hindu law, a widow has no power to sell her husband's estate in return for a covenant to pay her an annuity for maintenance for the rest of her life. .....

The Gaekwar Mills Ltd. Vs. the State of Gujarat

Court : Gujarat

Reported in : [1976]37STC129(Guj)

..... part of the applicant within the meaning of section 10(d) of the central sales tax act, 1956, and thereby confirming the imposition of penalty under section 10a of the central sales tax act, 1956, though the penalty was reduced to certain extent (ii) whether, on a true construction of section 10a of the central sales tax act, 1956, the tribunal was justified in rejecting the contention of the applicant that the maximum ..... him a reasonable opportunity of being heard, by order in writing, impose upon him by way of penalty a sum not exceeding one-and-a-half times the tax which would have been levied under this act in respect of the sale to him of the goods, if the offence had not been committed; provided that no prosecution for an offence under section 10 shall be instituted in respect of the ..... penalty that could be levied under section 10a of the central sales tax act, 1956, was 3 per cent up to 30th june ..... sub-section (1) of section 8 are also controlled by sub-section (4) thereof, which says that the provisions of sub-section (1) shall not apply to any sale in the course of inter-state trade or commerce unless the dealer selling the goods furnishes to the ..... as to give 'force and life' to the intention of the .....

Modi Nathubhai Motilal and ors. Vs. Chhotubhai Manibhai Desai

Court : Gujarat

Reported in : AIR1962Guj68; (1962)0GLR418

..... a partition need not be mala fide in the sense that the dominant intention of the parries was to defeat the claims of the creditors; if it makes no arrangement or provision for the payment of the just debts payable out of the joint family property the liability of the sons for payment of the prepartition debts of the father will still remain ..... rights under the hindu law imply that the widow has only a life interest or a limited interest; whereas under the hindu succession act, 1956, a widow has full interest in the property. ..... section shall not enable any person to give evidence of a fact which he is disentitled to prove by any provision of the law for the time being in force relating to civil procedure. ..... on the second question, we have to see whether any provision had been made for payment of the debts and also for the maintenance of female members and for the marriage expense of ..... question is whether in view of the provisions of section 165 of the evidence act, the parties can lead evidence in a manner other than that provided in the evidence act. ..... but a provision must be made for the payment of the joint family debts which are payable out of the joint family properties and a provision must also be made for payment of personal debts of the father which are not avyavaharik and for the maintenance of female members and also for the marriage expenses of ..... by reason of the provisions giving an absolute interest to the widow, the theory of reversionary rights must be deemed to have .....

Cibatul Ltd. and ors. Vs. Union of India

Court : Gujarat

Reported in : (1980)1GLR825

..... in relation to any matter; (b) to give any direction in relation to any matter; or (c) to grant any exemption in relation to any matter then, in the absence of anything to the contrary contained in such or any other provision of this act, the central government or company law board may accord, give or grant such approval, sanction, consent, confirmation, recognition, direction or exemption subject to such conditions, limitations or restrictions as it may think fit to impose and may, in ..... provisions of the companies act, 1956 ..... to the remuneration of any director including a managing or whole time director, or any amendment thereof, which purports to increase or has the effect of increasing, whether directly or indirectly, the amount thereof, whether that provision be contained in the company's memorandum or articles, or in an agreement entered into by it, or in any resolution passed by the company in general meeting or by its board of directors, shall not have any ..... or to any remuneration under section 309, section 310, section 311 or section 387, fix the remuneration of the person so appointed or the remuneration, as the case may be, within the limits specified in this act, at such amount or percentage of profits of the company, as it may deem fit and while fixing the remuneration, the central government shall have regard to (a) the financial position of the company (b) the remuneration ..... fund, pension, leave, free use of car, personal accident insurance and leave travel facility. .....

In Re: Mafatlal Industries Ltd.

Court : Gujarat

Reported in : [1996]87CompCas705(Guj)

..... is common ground between the parties that the proceedings under sections 391 and 394 of the companies act, 1956, are governed by the provisions of the civil procedure code, in terms of rule 6 of the companies (court) rules, ..... contention raised before us was that, in the facts and circumstances of the case and keeping in view the provisions of the companies act, the court had no jurisdiction to decide the questions in these proceedings whether nocil and shushrupad could participate in ..... in view of the operation of the aforesaid order and keeping in view the provisions of section 81 of the act, it had been contended by the objector that nocil was not a shareholder of mil on the relevant date and, therefore, was not entitled to make any offer ..... all these cases reveal that where an interpretation of a substantive provision of law or rule has been accepted, in accordance with which a person is expected to act as a law abiding citizen of a civilised societybound with discipline of law, deviation from such interpretation be not ordinarily made so as to render a lawful transaction ..... clear in that regard that except as otherwise provided by the act, or the rules of 1959, the procedure of the court and the provisions of the civil procedure code, so far as applicable shall apply to all the proceedings under the act and under the companies (court) rules. ..... it embodies distinct provisions enjoining persons to do or forbear from doing such act accompanied by sanction of the state that they will have .....

Geetaben Jigneshbhai Modi. Vs Life Insurance Corporation of India and ...

Court : Gujarat

..... the respondent is a corporation duly constituted under the provisions of the life insurance act, 1956. ..... i do not find satisfactory at all.you have acted in a manner prejudicial to the interest of the corporation as envisaged under regulations 8(2)(b) and 16(1)(a)(b) & (d) of (agents') regulations 1972.i therefore, order as under:as per regulations 16(1)(a)(b) & (d) of (agents') regulations 1972, your above agency is terminated and renewal commissions payable to you as per regulation 19(1) of agents' regulations 1972 stands forfeited with immediate effect.you are disqualified and shall not solicit or procure new life insurance business on our behalf at any time.17. ..... where the competent authority proposes to take action under sub-regulation (1) it may direct the agent not to solicit or procure new life insurance business until he is permitted by the competent authority to do so."34. ..... the legal principles laying down when an act of a statutory authority would be a quasi-judicial act, which emerge from the foretasted decisions are these :where (a) a statutory authority empowered under a statute to do any act (b) which would prejudicially affect the subject (c) although there is no lis or two contending parties and the contest is between the authority and the subject and (d) the statutory authority is required to act judicially under the statute, the decision of the said authority is quasi .....

Pandurang V. Kulkarni and anr. Vs. Life Insurance Corporation

Court : Gujarat

Reported in : (2001)2GLR1310

..... of the services of the employees serving the respondent-corporation are governed by the life insurance corporation of india (staff) regulation, 1960 which has been framed in exercise of the powers vested in the corporation under clauses (b) and (bb) of sub-sec, (2) of section 49 of the life insurance corporation act, 1956. ..... appeals against other orders :(1) an employee may appeal against an order which -(a) denies or varies to his disadvantage his salary or other conditions of service as regulated by any orders, regulations, rules or agreements, or (b) interprets to his disadvantage the provisions of any such orders, regulations, rules or agreements to the corporation if the order is passed by the authority which made the orders or regulations or rules or agreements, as the case may be, or by any authority to which such authority is ..... 226 of the constitution of india challenging the legality and validity of the order made by life insurance corporation of india on 20th june, 1988, vide annexure 'a' refusing to release stagnation increment ..... xx(4) in case of an appeal under this regulation, the appellate authority shall consider all the circumstances of the case and pass such orders as it deems just and equitable.7.1 there is also a provision for review under clause 48.7.2 thus, the regulation itself provides for appellate forum as well as for review of the orders.8. ..... , the petitioner could have called upon the appellate authority to decide its appeal under the aforesaid provision. .....

Essar Steel Ltd. Vs. Gramercy Emerging Market Fund

Court : Gujarat

Reported in : [2003]116CompCas248(Guj)

..... or interest in securities are included in the meaning of 'securities'.17.6 the contention that the other provisions of the scr act, 1956, controlling and regulating the business of dealing in securities in the areas notified should be read alongwith the definition of 'securities' which is incorporated by reference by section 2(45aa) under the said act from section 2(h), is contrary to the elementary cannons of construction. ..... for the appellant argues is right that the marketable securities should be marketable in india, it would amount to reading the other provisions of the scr act 1956 in the companies act, though not meant to be incorporated at all. ..... the petitioners are to be treated as noteholders, they are not holders of 'debentures' or holders of 'any securities' as contemplated by the said act read with the provisions of the securities contracts (regulation) act, 1956 (hereinafter referred to as 'scr act' for short). ..... by contending that even if the petitioners are noteholders, they are not holders of debentures, or holders of 'any securities' as contemplated by section 439(2) read with section 2(12) and 2(45aa) of the companies act read with section 2(h) of the securities contracts (regulations) act, 1956 (scra), it would be necessary also to consider that aspect of the matter especially when the objection in this vein is reiterated by the learned senior counsel for the appellants before us. ..... this position clearly emerges from the decision of the apex court in sham rav .....

Commerzbank Ag. and anr. Vs. Arvind Mills Ltd.

Court : Gujarat

Reported in : [2002]110CompCas539(Guj); (2002)2GLR1182

..... and observations of reported cases relevant and important for classifications of me members who have to vote in the meeting called for the purpose, learned senior counsel has drawn attention of this court on various salient features emerging from the record whereby he has tried to demonstrate that how and in what manner the foreign lenders need to be treated as a separate class.3.3 exhibit-a attached to the application is the list of the members of ..... the notification under the bombay relief undertaking (special provisions) act, 1958 (hereinafter referred to as 'the b.r.u ..... in furtherance of his submission, he has placed reliance on hawk insurance company limited and a decision reported in 1999 (2) bclc 675, he has also pointed out that the ratio of the case reported in 1956 (59) cc 956 (supra) also should be considered before passing an order for recalling of the earlier order as it would amount to reviewing the speaking order passed by this court at the end of ..... has said that'in my judgment the decision and observations in sovereign life have to be judged in relation to the facts of that ..... but that in itself, in my judgment, is simply a fact of life; it does not lead to the conclusion that shareholders who propose to vote differently are in some way a separate class of shareholders entitled to a ..... be confined to those persons whose rights are not so dissimilar as to make it impossible for them to consult together with a view to their common interest (vide sovereign life assurance co. v. .....