Court : Gujarat
Reported in : [2006]129CompCas121(Guj); [2005]61SCL254(Guj)
..... court should satisfy itself as to whether the meeting was duly held and conducted; whether the compromise was real, bonafide, just and equitable; whether it was accepted by a competent majority, whether the majority was acting in good faith and for common advantage of the whole class; what they did was reasonable, prudent and proper; and whether the provisions of the statute have been complied with, ..... about the requirements of a scheme for getting sanction of the court are found to have been met, the court will have no further jurisdiction to sit in appeal over the commercial wisdom of the majority of the class of persons who with their open eyes have given their approval to the scheme even if in the view of the court there could be a better scheme for the company and its ..... cut-off date has been arrived at after much deliberation and discussion with major secured creditors and loan creditors and as long as it has been accepted by majority of creditors in value as well as in numbers, they should be abide by the same as per the provisions contained in the act.52. mr. ..... some of the major irregularities and findings as per the report are as under :-(1) there is violation of section 418 of the companies act, 1956 in the matter of employees' ..... the objector were properly taken into consideration, the scheme as proposed by the petitioners fails as the resolution for the said scheme cannot be said to have been passed by requisite majority as required under the provisions of companies act. .....
Tag this Judgment!Court : Gujarat
Reported in : IV(2005)ACC564; 2006ACJ818; (2005)2GLR1616
..... it is the contention in the application preferred under section 140 of the act that he was admitted in the hospital during night hours and thereafter he was operated considering the number and nature of injuries sustained by him. ..... if the entire sum awarded under section 140 of the act is to be kept in bank, the same would not serve the purpose. ..... the grievance of the petitioner is that though minor injured has been awarded the amount of compensation while disposing the application preferred under section 140 of the motor vehicle act (for short 'the act'), and passing interim award, the ld. ..... that this court and the apex court in number of cases have held that the interest of a minor should be protected and the amount of compensation awarded to the minor should be secured till the minor attains majority. .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)2GLR1142
..... respects amounts treating unequals equally and violation of articles 14 and 16 of the constitution of india.7.2 it is the case of the petitioners that though the petitioners are appointed under the provisions of bombay home guards act, 1947 and the bombay home guards rules, 1953, really they are governed by the government of india scheme dated 29.6.1979 for all border states in india namely; gujarat, rajasthan, west bengal, tripura and ..... the disputed questions of facts and would ask the petitioners to go to the civil court or any other appropriate forum.10.8b the learned counsel therefore relied upon the affidavit filed by one major yashoraj sinh gohil, battalion commandant, 1st battalion, border wing home guards at palanpur (b.k. ..... the learned counsel therefore submitted that the deponent in their affidavit namely major yashorajsinh gohil, in the affidavit dated 4th november, 2003, has clearly stated that as and when the services of the petitioners are not required, they are being disembodied so as to enable them ..... for that he has relied upon the affidavit filed by one major yashoraj sinh gohil, battalion commandant dated 4th november, 2003, where a table has been annexed showing the year, specification of the emergent situation and requisition from central/state ..... secure to all its citizens social, economic and political justice, even though the form of government prescribed by the constitution is a majority government which lies at the foundation of the representative system. .....
Tag this Judgment!Court : Gujarat
Reported in : [2006]129CompCas353(Guj); [2005]59SCL734(Guj)
..... court has further observed that a scheme proposed may be open to criticism, may be one which is not acceptable to the class of secured creditors, but unless it is effectively shown to be unfair and unjust and is thrown out unanimously or by majority as absolutely unworkable, unreasonable and irrational, it would be wrong to shut out the scheme at the threshold by rejecting it on the ground that the secured creditors have taken a rather stubborn and adamant attitude towards the working ..... thakore has submitted that there is no substance in the arguments put forward by the applicant and other three institutes that the meetings cannot be adjourned by the simple majority and since the meeting is having inherent right to adjourn the meeting, there would not be any objection if the meetings are adjourned for certain valid purposes.26. mr. ..... broad contours of the jurisdiction of the company court, it is inter alia observed that the company court has also to satisfy itself that members or class of members or creditors or class of creditors, as the case may be, were acting bonafide and in good faith and were not coercing the minority in order to promote any interest adverse to that of the latter comprising the same class whom they purported to represent. ..... in view of the provisions contained in section 391(2) of the act, the scheme of arrangement / compromise is required to be approved by a majority in number representing three-fourth in value of creditors present and voting at the meeting .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)195CTR(Guj)385; [2006]282ITR24(Guj)
..... in particular provided that after providing for all the expenses, bonus, provision for income-tax, provision for the payment of the dividend on the paid up share capital as per the provisions of the cooperative societies act and rules as decided by the annual general meeting and the balance of profit, if any, is to be transferred to the general fund, which can be used with the approval of the general body meeting either for distribution among ..... the income tax appellate tribunal, ahmedabad bench 'b' has referred the following question for the opinion of this court under section 256(1) of the income-tax act, 1961 (the act) at the instance of the commissioner of income-tax, gujarat-i, ahmedabad :-whether, the appellate tribunal is right in law and on facts in deleting the addition to the extent of rs.5,47,69,105/- being the alleged additional price towards purchase of milk, ..... the tribunal has while recording the majority opinion rightly considered that for past years identical fact situation prevailed and in absence of any change in circumstances the department could not have re-agitated the issue. ..... he, therefore, urged that the majority opinion of the tribunal deserve acceptance and the revenue's reference was required to be rejected answering the question in favour of the assessee.10. ..... the majority view of the tribunal on this issue deserves acceptance. ..... the following facts have been recorded by the tribunal (third member) while expressing the majority view :'2. .....
Tag this Judgment!Court : Gujarat
Reported in : [2006]131CompCas209(Guj); [2005]62SCL539(Guj)
..... day, the date, the place and the time as aforesaid, together with a copy of the scheme of arrangement and compromise, copy of the explanatory statement required to be sent under section 393 of the companies act, 1956 and the prescribed form of proxy shall be sent by a pre-paid letter posted under certificate of posting, addressed to each of the secured creditors with first charge, secured creditors with second charge and other ..... singhi has, therefore, submitted that the converse is equally true as in an informal meeting, if the requisite majority supporting the resolution is not procured, no useful purpose would be served in issuing direction for convening the ..... 1, wherein the court held that the consent of the overwhelming majority of the shareholders outside a meeting is sufficient to show that the resolution was supported virtually by all the members of the ..... but in any case if the scheme is approved by the requisite majority at the meeting, the petition will have to be filed before this court and at this stage, the court would certainly consider these aspects of the scheme and would also go into the merits ..... raise all these objections at the meeting and if the resolution to support the scheme is failed for want of requisite majority, there will be no question of sanctioning the scheme by this court. ..... similarly, when the company failed to procure the requisite majority of unsecured creditors at the meeting called for by arcil, the court should not issue direction for convening .....
Tag this Judgment!Court : Gujarat
Reported in : [2006]130CompCas123(Guj); (2006)5CompLJ83(Guj); [2005]59SCL457(Guj)
..... ble supreme court has further observed that the bonafides of the majority acting as a group have to be examined, vis.a.vis. ..... on july 19, 2003 be confirmed and passed by this hon'ble court;(b) that the proposed minutes as set out in para 14 hereinabove, be approved;(c) that the procedure laid down under section 102(2) and (3) of the act, as regards the creditors be dispensed with, on such terms as the hon'ble court may deem fit;(d) that the petitioner be dispensed with the use of the words 'and reduced';2. ..... about the requirements of scheme for getting sanction of the court are found to have been met, the court will have no further jurisdiction to sit in appeal over the commercial wisdom of the majority of the class of persons who with their open eyes have given their approval to the scheme. ..... the petitioner, namely, essar steel limited has filed this petition under section 78 and 100 to 103 of the companies act, 1956 before this court seeking following prayers :-(a) that the reduction of the share capital of the petitioner by cancellation of part of equity share capital being 20,47,33,113 (twenty crore forty seven lacs ..... an admitted position that the special resolution was passed by the requisite majority of the shareholders at the 27th ag meeting held on 19.07.2003 ..... out of abundant caution the special resolution proposed was specifically modified for compliance of the provisions of section 87 of the act and the copy of the modified resolution forms part of the petition itself.25. mr. .....
Tag this Judgment!Court : Gujarat
Reported in : AIR2005Guj222; (2005)2GLR1107
..... tehal singh [(2002) 2 scc 7], while making distinction between legislative, administrative and quasi-judicial acts, that a legislative act is the creation and promulgation of a general rule of conduct without reference to particular cases and it usually operates in future; while an adjudication, on the other hand, applies to ..... that the team constituted by the committee had conducted personal visit of majority of the institutions to verify the facilities and infrastructure available at the institute and the adequacy of staff members and further to clarify on certain issues arising from analysis of the data submitted ..... judgment that in exercise of its supervisory jurisdiction under section 161 of the 1972 act, the court was to apply the well-established test applicable to decisions made by local authorities pursuant to a discretion conferred by parliament, namely, whether in reaching its decision the authority had been affected by immaterial considerations or, conversely, had ignored material considerations, or had acted in a way that no reasonable authority properly directing itself to what was material ..... needs to be emphasized that as per the majority judgment, imparting of education is essentially charitable ..... first question is concerned, in our view the majority judgment is very clear. ..... concerned had not furnished complete data and established colleges hardly had any issue, but new colleges were finding it difficult to manage cash flows and had asked for major increase in fees. .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)2GLR1394
..... thousand, the said number of seven shall be increased by two and therefore, only those members as provided in sub-section (4) can be considered to be members of the panchayat is concerned, if section-9 of the act is read as a whole, then in that case, the sarpanch is also inclusive of members of the panchayat as per the sub-section (3)(a) a village panchayat shall have a sarpanch and an upa-sarpanch and therefore ..... vote of the sarpanch is required to be ignored then question arises where that vote will go and what is the value of that vote thus, considering sub-section (3) of section 56 of the act, when the sarpanch is conferred with a right including the right to vote in such a meeting, naturally, the intention of the legislature is to allow the sarpanch to take part in the proceedings ..... sajanwala, the learned advocate appearing on behalf of the petitioners has submitted that as per sub-section (2) of section-56 of the act, where in case of the sarpanch or, as the case may be, the upa-sarpanch, motion is carried out by the majority of not less than two thirds of the total number of the members of the panchayat, the sarpanch, or, as the case ..... the petitioners has submitted that whenever a sarpanch is required to be included and considered as a 'member', it is so provided and therefore, when in section-56 of the act, it does not mention that two-thrid of total of number of members of the panchayat inclusive of the sarpanch, vote of sarpanch for the purpose of considering two-third .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)2GLR1583
..... facts have submitted in paragraph 3.3 of the writ application that 'the resolution passed by the sending society was attached with the nomination papers and surprisingly at the instance of the present party in power, as the majority of the petitioners belong to the congress party and are presently directors in the respondent no.3-society, the resolution had been removed which was attached with the nomination papers. ..... -(1) any person may be nominated as a candidate for election to fill a seat, if he is qualified to be chosen to fill that seat under the provisions of the act, rules and byelaws and his name is entered in the list of voters:provided that where a society sends the candidate to stand at election, such society shall pass a resolution in its managing committee authorizing such ..... to 8 to show cause why they be not awarded full jail term as provided under the provisions of the contempt of courts act for playing fraud with the high court by swearing false affidavit with a view to obtain favourable order in their favour. ..... the defect is not of substantial character will have to be rejected simply on the ground that if law requires a particular act to be done in a particular manner, then, it must be done in such a manner or not at all. ..... (1) clearly provides that any person may be nominated as a candidate for election to fill a seat, if he is qualified to be chosen to fill that seat under the provisions of the act, rules and byelaws and his name is entered in the list of voters. .....
Tag this Judgment!