Court : Supreme Court of India
Reported in : 1996IAD(SC)734; AIR1996SC960; I(1996)BC478(SC); [1996]87CompCas589(SC); [1996]218ITR140(SC); JT1996(1)SC1; 1996(1)SCALE57; (1996)1SCC683; [1996]1SCR31
..... by the appellant. subsequent to 1983 sharp edge was not doing well. as on 31st march, 1989, its accumulated loss amounted to rs. 298 lakhs against its paid up capital of rs. 212 lakhs. a reference was made to the bifr under section 15(8) of the said act, sharp edge having become as a sick industrial company. on ..... of 1977 and the memorandum explaining the provisions of the said bill it will appear clear that sickness among industrial undertakings was regarded as a mailer of grave national concern inasmuch as closure of any sizable manufacturing unit in any industry entailed social costs in terms of loss, of production and unemployment as also waste of valuable ..... capital assets, and experience had shown that taking over of such sick units by government was not always a satisfactory or economical solution; it was felt that a .....
Tag this Judgment!Court : Chennai
Reported in : 2004(1)CTC346
..... is very clear and the proceedings which are stayed and suspended are only the proceedings against any of the properties of the industrial company'.(iii) sundaram finance limited v. kamaraj national labour organisation 2003 (4) ctc 69, wherein, in para 9, a division bench of this court has held as follows: 'on consideration of the rival submissions, it is clear hat .....
Tag this Judgment!Court : Delhi
..... government company cannot seek a better dispensation by virtue of being a psu. learned counsel sought to draw strength from the observations made in wp (c) no.7341/2009 titled national small industries corporation limited v. singer india limited & anr. decided on 30.8.2010 (reported in 2010 (103) sebi & corporate law 385 delhi), which is a ..... assistance to a sick company by way of loan, advance, guarantee, sacrifice, relief or concession by a financial institution. such a psu which invests in the share capital would not come within the meaning of section 19 (1) of the sica. the case being one of dilution of shareholding of the petitioner therein in the sick ..... the central government may, by notification, specify : provided that no institution shall be so specified unless not less than fifty-one per cent of the paid-up share capital thereof is held by any state government or governments or by any institution or institutions mentioned in sub-clauses (i) and (ii) or partly by one or more .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(5)BomCR174; 2009(111)BomLR2444; 2009(167)LC7(Bombay); 2009(240)ELT180(Bom)
..... leviable thereon under the said central excise act:provided that nothing contained in this notification shall apply to the goods in respect of which credit of duty on inputs or capital goods has been taken under the provisions of the cenvat credit rules, 2002.sr nochapter or heading no.subheading no.descriptionof goods150.04, 50.05all goods.251.05,5106.11 .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(111)BomLR4573
..... cannabis namely, cannabis sativa, cannabis indica and cannabis ruderalis, but even then, there are some who still argue that cannabis belongs to a single species. as stated in the united nations office on drugs and crimes (bulletin on narcotics, volume lviii. nos. 1 and 2, 2006, review of the world cannabis situation), even today there is direct disagreement about whether cannabis ..... by p.i. suraj halarnkar/pw7. according to him, on 8-1-2008 at about 8.00 hours, he received reliable and specific information through his source that an israeli national of stated description would be coming behind badem church, under a banyan tree to deliver narcotic drugs at about 10.30 to 11.00 hours to his prospective customers whereupon .....
Tag this Judgment!Court : Allahabad
Reported in : [2002]112CompCas562(All)
..... relied upon allahabad bank's case (supra) in support of their contention. in the said case the dispute was between two nationalized banks. allahabad bank had obtained a money decree against m.s. shoes (east) co. ltd. from the debts recovery tribunal ..... any rehabilitation proposal or comments on the report submitted by cemtech and thus bifr directed the company to submit analternative revival plan to the operating agency. the workers were also directed to submit rehabilitation proposal with the help of tata consultants within two ..... two banks which were supplemented by an additional agreement dated 1-12-1992. following credit facilities were granted towards the working capital against hypothecation namely, stocks of raw material, stocks in process, semi-finished and finished goods, stores and spares bills ..... limestone deposits of over 100 million tones. (4) the units are located in the region which is a major market is eastern u.p. and bihar, for cement and there is no other major cement plant .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (1998)2SCC435a
..... sphere. such a result would not be conducive to proper administration and implementation of the programme of preventing and controlling environmental pollution in the national capital region. it is, therefore, necessary to make an appropriate order which would avoid any conflict of jurisdiction between the two authorities. in our ..... (3) of section 3 of the environment protection act, 1986 constituting an authority to be known as the environment pollution (prevention and control) authority for the national capital region consisting of the persons, namely, (1) shri bhure lal; (2) shri o.k. biswas, chairman, central pollution control board; (3) shri anil ..... to deal with the entire matter relating to environmental pollution in the national capital region the continuance of any other authority with concurrent jurisdiction in any area within the entire sphere of environmental pollution in the national capital region is bound to create an embarrassing situation because of conflict of jurisdiction .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1989SC1977; [1990]67CompCas71(SC); (1989)3CompLJ199(SC); [1989(59)FLR601]; JT1989(3)SC432; 1989(2)SCALE350; (1989)4SCC441; [1989]3SCR935; 1990(1)LC169(SC); (1990)1UPLBEC
..... by the state government from its officers. in view of the relationship with and control of the central government on the reserve bank, national bank and the sponsor bank, the central government gets an effective control over the rural bank. the head office of the rural bank is to be located according ..... be nominated by the central government, one director to be nominated by the reserve bank from amongst one of its officers, one director to be nominated by the national bank from amongst one of its officers, two directors to be nominated by the sponsor bank from amongst its officers and the remaining two directors to be nominated ..... by the above definition. it was constituted in exercise of power conferred by section 3 of the regional rural banks act, 1976. it has been sponsored by the syndicate bank, a nationalised bank. although fifteen per cent of the total capital of the bank has been contributed by the state of uttar pradesh, it has no controlling power, .....
Tag this Judgment!Court : Karnataka
Reported in : [2007]135CompCas157(Kar); 2007(1)AIRKarR632; AIR2007NOC426(DB).
..... reading of the said section would show that under some circumstances proceedings are to be stayed in terms of the statute.9. appellant relies on : air2005sc29 anumati v. punjab national bank - for the purpose of an order in his favour. we have seen the said judgment. that was a case in which the court was considering with regard to ..... 1-3 year deposits with the appellant company to more than 26 lakhs. the said deposits have been received by the appellant company as borrowings utilised towards the working capital requirements of the appellant. due to foreign competition and demand recession, the appellant became sick and was forced to make a reference to the board of industrial and ..... by a common order dated 31.7.2000 passed in c.a.nos. 1-202/58(9)/srb/2000/srb/98 on the file of the company law board, southern region bench, chennai.2. the appellant is a company registered under the provisions of the companies act, 1956. its office is at peenya industrial, bangalore. respondents are depositors .....
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)
..... pvt. ltd. and anr. v. a.p. agencies, salem : [1989]2scr1a ; food corporation of india v. new india assurance co. ltd. and ors. etc. : [1994]1scr939 ; national insurance co. ltd. v. sujir ganesh nayak & co. and anr. : [1997]3scr202 ; nutan kumar and ors. v. iind additional district judge and ors. : [2002]supp2scr686 ;. shri lachoo ..... urge that clause 7.5 being a consent clause, the respondent herein could not have taken any action in violation thereof as thereby the entire investment plan of the appellants would be put to jeopardy.12. our attention was drawn to the fact that the respondent herein obtained moratorium in terms of the ..... ' shall include revenues and property of any kind.c) amendment of memorandum and articles of association amend its memorandum and articles of association or alter its capital structure except as specified herein.d) merger, consolidation etc. undertake or permit any merger, consolidation, re-organization, scheme of arrangements or compromise with its creditors .....
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