Court : Punjab and Haryana
Reported in : AIR1992P& H35
..... (2) the state government undertakes prospecting or mining operations in any area in which the minerals vest in a private person, it shall be liable to pay prospecting fee, royalty, surface rent or dead rent, as the case may be, from time to time at the same rate at which it would have been payable under this act if such prospecting or mining operations had been undertaken by a private person under prospecting licence or ..... further, the central government in terms of the provisions of mines & minerals (regulations and development) act, 1957, do not consider it advisable that on premature termination of mining leases of private parties the same area should be divided and sub-divided and again leased out to a large number ..... 17a of the mines and mineral (regulation and development) act, 1957 (hereinafter referred to as 'the act') and in view thereof the claim of the respondent, shishpal singh, cannot ..... (2) of section 17a of mines and mineral (regulation and development) act, 1957 and in supersession of haryana government industries department ..... mines and minerals (regulation and development) act, 1957.'3. ..... government, with a view to conserving any mineral and after consultation with the state government, may reserve any area not already held under any prospecting licence or mining lease and, where it proposes to do so, it shall, by notification in the official gazette, specify the boundaries of such area and the mineral or minerals in respect of which such area will be reserved. ..... section .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1980P& H236
..... the form 'd' which, as already observed, is required to be executed by a transferee is envisaged by rule 8-a of the 1960 rules and rule 8-a in turn is envisaged in section 3 of the act which is in the following terms:--'3 (1) subject to the provisions of this section, the central government may sell, lease or otherwise transfer, whether by auction, allotment or otherwise, any land or building belonging to the government in chandigarh on such terms and conditions as it may, subject to any rules that may be made under this act, think fit to impose. ..... 101 and 102 of 1977, the significant question of law, which is common to both, that falls for determination is as to whether a tenant of a building regarding which en order of resumption is sought to be passed under section 8a of the capital of punjab (development and regulation act, 1952 (hereinafter referred to as the act), is entitled to be heard before an order of resumption is made thereunder and further whether the tenant can be considered to be a party aggrieved against the resumption order and thus entitled to file an appeal under section 10 of the act.2. ..... clause (c) of the said model conveyance deed is in the following terms:--'the transferee shall accept and obey all the rules and orders made of issued under the capital of punjab (development and regulation) act, 1952.'14. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1974]93ITR450(P& H)
..... if the currency notes and the account books were the subject-matter of a criminal offence, as in the present case, subsequently, a case under sections 411/413/414 of the indian penal code and sections 4, 5 and 6 of the foreign exchange regulation act, 1947, and foreign exchange regulation (amendment) act, 1957, was registered, the same shall become the case-property and had to be produced before the court trying the case and it would again ..... of the police would show that ramesh chander was in possession of this huge amount, the proceedings under section 69a of the income-tax act could be taken against him, but in case where the amount is not shown in any government or other authenticated record and a notice is issued to a person that he is in possession of undisclosed wealth, which may be in the form of currency notes, he can straightaway come with the plea that he has not ..... authorise search and seizure is hedged in by the requirement of this condition precedent and it is only if this condition is fulfilled that the power can be exercised. ..... which is undisclosed for the purposes of the income-tax act, and the said belief is based on the information in his possession which information has got nexus with two questions, that is, regarding the possession of money, etc ..... inspection or the commissioner is satisfied that there is a ' reason to believe ' that a person is in possession of money, etc. ..... persons including those of ganga krishan shukla, charan singh, driver, subash chander, etc. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1990)98PLR230
..... was, that since the state bank of patiala is a subsidiary branch of state bank of india by virtue of state bank of india (subsidiary banks) act, 1959 (hereinafter referred to as the act) and the service conditions of the petitioner are governed by the state bank of patiala (officers) service regulations 1979 (hereinafter referred to as the regulations) and under regulation 3(e) the board of directors have authorised only the managing director to accept resignation of junior management and middle management officers if the same ..... in our considered view, pithly stated, it emerged from a reading of the provisions and scheme of the act as well as the regulations that it was the managing director who was authorised to act in the matter of accepting the resignation by waiving off the notice period or the salary for three months in lieu thereof, which was a pre-condition. ..... section 24 thereof clothes the state bank of india with the power to manage the subsidiary banks it may, from tine to time, give directions and instructions to a subsidiary bank in regard to any of its affairs and business subject to any such directions and instructions, the general superintendence and conduct of the affairs and business of a subsidiary bank shall, as from the appointed day, vest in a board of directors who may, with the assistance of the managing director, exercise all ..... regulation 14 envisages that all appointments etc. ..... etc. ..... chairman, director etc. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1999)123PLR166
..... thereafter one piare lal who is the 1st respondent in both these lpas filed an application under section 7 of the punjab village common lands (regulation) act, 1961, for ejectment of the said puran. ..... of 1986 challenging the orders of eviction passed by the revenue authorities under section 7 of the punjab village common lands (regulation) act, 1961. ..... therefore, we feel just and proper to permit the appellants to purchase the land at the prevailing market price which is in accordance with the order of the director of panchayats which was the subject matter of challenge in cwp no. ..... director of panchayats also accorded approval under sub-rule (3) of rule 8 of the punjab village common lands (regulation) rules, 1964 permitting the gram panchayat to sell the land to puran. ..... the gram panchayat in its meeting held on 5.10.1997 also passed a resolution deciding that lrs: of puran may be allowed to live peacefully in the house constructed over the land in dispute.8. ..... it is now settled that high court can pass any appropriate order which is just and equitable on the facts and circumstances of the case ..... he applied for purchase of the land under sub-rule (3) of rule 8 of the punjab village common lands (regulation) rules, 1964. ..... counsel for piare lal for the first time stated before us if the land is put to auction, piare lal may purchase it. ..... here it may be noted that puran died during the pendency of these proceedings and his legal representatives have been brought on record in these l.p.as .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1962SC1764; [1963]33CompCas231(SC); [1963]2SCR297
..... section 23(1) of the act is as follows : '23(1) if any person contravenes the provisions of section 4, section 5, section 9 or sub-section (2) of section 12 or of any rule, direction or order made thereunder, he shall - (a) be liable to such penalty not exceeding three times the value of the foreign exchange in respect of which the contravention has taken place, or five thousand rupees, whichever is more, as may be adjudged by the director of enforcement in the manner hereinafter provided, or (b) upon conviction by a court, be punishable with imprisonment for a term which may extend to two years, ..... had against them for delayed and defective supplies of machinery and equipments under previous contracts, that the deposits in question had been made subject to the subject to the condition that they should be utilised only for making initial payments towards price of new machineries to be purchased from the german firms and that in consequence there was no ..... 4(1) of the foreign exchange regulation act (vii of 1947), hereinafter referred to as 'the act' provides that 'except with the previous general or special permission on the reserve bank, no person resident in india other than an authorised dealer shall outside india buy or borrow from, or sell or ..... in the bank, that would not merely lend assurance to the indian companies, but also enable the parties to comply with the german regulations, as to payment of 20 per cent of the price of manufactured goods, before they are exported .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2005SC2520; III(2005)BC14(SC); [2005]125CompCas389(SC); (2005)4CompLJ531(SC); JT2005(5)SC300; (2005)10SCC682; [2005]60SCL512(SC)
..... the company in respect of arising out of or incidental to the debenture shall be exercisable by the debenture holders only though the trustees.the debentures are issued subject to and with the benefit of the financial covenants and conditions endorsed hereon which shall be binding on the company and the debenture holders and all persons claiming by, through or under any of them and shall enure for the benefit of ..... conditions as may be decided.if for any reason the amount of the debentures finally subscribed for by the debenture holders is less than the amount of the debentures agreed to be subscribed the installment(s) of redemption will be reduced proportionately but will however be payable on the due date as specified.3.9 debenture certificate :the company shall issue debenture certificate/s to the debenture holder/s after making necessary compliance to the provisions of section 113(1) of the companies act ..... agrees and undertakes to obtain all necessary consents from the concerned authorities in accordance with the then prevailing rules and regulations and to sign all deeds and documents that may be required in this regard and to endorse the revised interest rates on the debenture certificates as and when communicated ..... re-organization, scheme of arrangements or compromise with its creditors or share holders or effect any scheme of amalgamation or reconstruction, e) investment by the companymake any investment by way of deposits, loans, share capital etc ..... liquidation [1998) 1 bclc .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2005SC83; I(2005)BC142; (2005)2CALLT31(SC); [2004]122CompCas696(SC); (2004)4CompLJ467(SC); 2004(9)SCALE60; (2005)1SCC172; [2004]56SCL1(SC)
..... for reasons to be recorded in writing, to dispense with the requirements of any of these regulations, subject to such terms and conditions as may be specified.40. ..... judge dismissed all the appeals holding that the petition was not maintainable because no consent of the trustees had been pleaded, that there was no compliance with regulation 18, that the shares of the trust had vested in the beneficiaries and that the trustees could not delegate their powers or authorize one of them to represent ..... reply filed by the respondent no.8 there is a plea that shares could not be held in the name of the trust under section 153 of the act, from the reasoning of the clb and the two decisions of the high court which we have noted earlier, it is apparent that the issue was not pressed.22. ..... pre-notice reply on 5.11.1998 in which they stated that the petitioner ..... orders of clb or the high court which could even remotely be construed as a rejection of the affidavits, resolution, etc. ..... other person to transact any business or to any act required to be transacted or done in the execution of the trusts hereof including the receipt and payments of money and shall be entitled to be allowed and paid all charges and expenses so incurred and shall not be responsible for the default of any agent employed in good faith.clause 16: the trustees shall have full power to file and defend suit, appeals, applications etc. ..... all plaints, written statement, memo of appeals, cross objections, applications, affidavits etc. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1995]216ITR668(SC); JT1995(7)SC373; 1995(5)SCALE477; 1995Supp(4)SCC133; [1995]Supp4SCR41
..... legislative intent is not to allow the entire sum transferred to the reserve fund as deduction but to limit it to the amount which is actually required by the provisions of section 17(1) of the banking regulation act to be transferred to the reserve fund.6. ..... deduction will be limited only to the amount which is required to be transferred to the reserve fund by sub-section (i) of section 17 of the banking regulation act, 1949. ..... a banking company transfers any amount in excess of 20% of its profit of any year to this reserve fund, the exclusion in clause (xi)(a) will be limited to 20% of the profit which is the requirement to section 17(1) of the banking regulation act.8. mr. ..... amount is deposited in the reserve fund created under section 17(1) of the banking regulation act will not qualify for deduction. ..... , profits and gains and other sums falling within the following clauses shall be excluded from such total income, namely:x x x x x x x x(xi) in the case of a banking company-(a) any sum which during the previous year is transferred by it to a reserve fund under sub-section (1) of section 17 of the banking companies act, 1949 , not exceeding the amount required under the aforesaid provisions to be so transferred or deposited, as the case may be, or5. ..... we may add that our approval does not affect in any way the obligation imposed on your bank by or under any other provisions of the banking regulation act, 1949 or of the companies act, 1956 or any other law for the time being in force .....
Tag this Judgment!Court : Delhi
Reported in : ILR1972Delhi601
..... per rupee, subject to the conditions stated in article 936 of the civil service regulations, or in any rule which may be constituted thereforee. ..... this is prohibited by section 5(1)(a) of the foreign exchange regulation act, 1947 which says that no person in india shall make any payment to or for the credit of any person resident outside india except with the permission of the reserve bank. ..... further, a civil court could not issue an injunction against the government in view of section 56(d) of the former specific relief act directing it to pay pension in pound sterling particularly when such an injunction could not be enforced in view of the following provisions of the foreign exchange regulation act, 1947. ..... a state government could not buy or borrow foreign exchange from anyone except an authorised dealer and except with the previous general or special permission of the reserve bank of india in view of section 4(1) of the foreign exchange regulation act, 1947. ..... even if it is assumed for the sake of argument that the concerned state government was liable to pay pension in pound sterling, an implied condition was attached to this debt or obligation by sub-section (2) of section 21 of the said act requiring permission of the reserve bank or of the central government to pay such debt or obligation in pound sterling. .....
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