Court : Andhra Pradesh
Reported in : [2008]86SCL13(AP)
..... recovery officer, debts recovery tribunal : air2004ap198 , teri oat estates (p.) ltd. v. u.t., chandigarh : (2004)2scc130 and polymat india (p.) ltd. v. national insurance co. ltd. : air2005sc286 .5. the core issue for consideration is whether apiic as vendor of immovable property is in law entitled to determine the contract of sale and ..... .9. in teri oat estates (p.) ltd.'s case (supra), union territory of chandigarh allotted lands on leasehold basis. such allotment is regulated by the capital of punjab (development and regulation) act, 1952; chandigarh leasehold of sites and buildings rules, 1973 and public premises (eviction of unauthorised occupants) act, 1971. ..... of godown, buildings and storage tanks and complete them within 18 months duly obtaining necessary approvals for plans from the competent authorities like inspector of factories, local body, public health authorities, director of town planning as may be required under any law for the time being in force, commence construction of .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2008(2)ALT611
..... their respective transaction structures and further the i.e.i. clearly provides that bidders shall provide business plans for spgl and the scope and ambit of such business plan would include:(i) strategy for existing businesses of spgl(ii) capital/funding requirement envisaged for spgl over the next three years and the proposed funding strategy.(iii) ..... improving the financial health of the banking and financial sector in public interest;e) to employ and utilize the recovered assets gainfully in the interest of national economy;it is further stated that the following illustrate and demonstrate the deep and pervasive control exercise by the central government in relation to the functions and ..... as hereunder:as to the first, the accused laxmi raj shetty was entitled to tender the newspaper report from the indian express of the 29th and the regional newspapers of the 30th along with his statement under section 313 of the code of criminal procedure, 1973. both the accused at the stage of their .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2008(2)ALT257
..... manufacture of refractories and increases its potential and usage. this particular unit is a 'state of the art' unit, one of its kind in the entire nation and mainly based upon the technology supplied by the 'advanced research centre for power metallurgy and new materials' a central government body, having its office and ..... specified in the respective loan agreements. however, in view of difficulties faced by you and having regard to the fact that the assistance was under venture capital fund scheme, at your request, idbi granted reliefs and concessions envisaging re-schedulement of principal, reduction in the rate of interest, waiver of further interest/ ..... the cost of the entire project was estimated at inr 21.45 crores for which purpose tdb recommended the petitioner to the respondents, especially to their venture capital division. the respondents, after evaluating the entire project decided to fund the petitioner-company by way of 'consortium lending' through a group of bankers. the .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2008(3)ALD198; 2008(2)ALT136
..... that the state government or the board may require the authority (puda) to take up the works in connection with the preparation and implementation of regional plans, master plans and new township plans, and town improvement schemes. it does not empower puda to declare the site for a new town as a ..... , was set aside by the supreme court mainly on the ground that the mandatory procedure of selection of the site by the board constituted under the punjab regional and town planning and development act, 1995 (for short 'the 1995 act') before initiating proceedings for acquisition was not followed. while referring to the provisions of the 1995 ..... b2 situated in venkayamrnapeta, kadiyam mandal, east godavari district, is proposed to be acquired for laying approach road for scheduled caste and backward class house sites from national high way in venkayamrnapeta village.100. a perusal of the notification shows that enquiry under section 5a was dispensed with. after hearing the learned counsel for the .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2008(1)ALT113
..... of shares and bona fide purchasers of these shares in the market. the petitioner who was not reelected as director qf the company has now hatched a plan to disturb the present successful management of the company by preventing voting rights of the genuine investors and to take control of the company for hi malafide ..... and therefore the honourable company law board has no jurisdiction to entertain the dispute of the issue i.e. conversion of un-secured loans into equity share capital of the company and consequent allotment of 20 lakhs shares. further the company law board rightly held that the petitioner cannot seek to prosecute parallel proceedings on ..... the so called allotment before the 3rd respondent upto september, 2003. further, even as per the balance sheet for the period ending september, 2003, the share capital is shown as 555 only. all these circumstances would clearly disclose that the so called allotment is sham and intended only to gain control to eliminate the petitioner .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2007(6)ALT563
..... performance towards recovery of hard core npas, it was not possible to lift the directions earlier given. the rbi also expressed its inability to approve the reconstruction plan submitted by the state government for the said two banks.98. the rbi conducted another statutory inspection of the bank with reference to the latter's position as ..... of the proposed management of the company will not be prejudicial to the public interest or the interest of its depositors;(d) that the company has adequate capital structure and earning prospects;(e) that the public interest will be served by the grant of a licence to the company to carry on banking business in india ..... exercise of such powers by the reserve bank in relation to any regional rural bank whenever it considers necessary so to do) be exercised by the national bank in relation to the regional rural banks, and accordingly, sub-sections (1) to (5) shall apply in relation to regional rural banks as if every reference therein to the reserve bank .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [2008]146CompCas266(AP)
..... the bidding process was conducted. the whole bidding process conducted by arcil is far from law and suffers from lack of transparency and the whole process was planned clearly to help the bidder to take over the project, almost for a song. the scheme and arrangement are silent as to the mode adopted by arcil ..... to set up a gas based power plant at kakinada, east godavari district, andhra pradesh. the permission for setting up the project was originally granted to the national thermal power corporation (hereinafter referred to as 'ntpc') by the central government. but, since ntpc was already involved in various other projects in other parts of india ..... objection has been raised by the registrar of companies on behalf of the regional director, the said objection has no merit, since the existing share capital is being converted into redeemable preference share capital, while at the same time, the new shareholder is bringing share capital of rs. 150 crores of which rs. 50 crores have already been .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2007(5)ALD380; 2007(5)ALT236; [2007]139CompCas545(AP); [2007]79SCL468(AP)
..... trial court's order, the guarantor bank deposited the amount. at this stage, the defendants getting the restitution application transferred to another trial court and in a planned way, procuring from that court a cheque for the said amount and getting the same encashed. in such circumstances, the defendants dealt fully with property custodia ..... accordingly, the said undertaking affidavits were filed. it is further stated that the 1st respondent along with the other group companies hold about 61% of equity capital in the 3rd respondent company and the 1st respondent is the promoter director, who filed affidavits, giving assurance of repayment of the deposits by the 3rd respondent ..... similar depositors, and therefore, filed an application under sub-section 9 of section 58a of the companies act, 1956 before the company law board, southern region bench at chennai for framing a scheme for repayment of the deposits in instalments within a period of 48 months and the said petition was numbered as .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2007(6)ALD667
..... earlier by the department of commerce of the central government, that its objects demonstrated that csir was set up in the national interest to further the economic welfare of society and fostering planned industrial development in the country, that the dominant role by the government of india in the governing of csir was evident, ..... of csir being the prime minister subjugation of the governing body to the will of the central government was complete, that in addition to the initial capital of rs. 10.00 lakhs 70% of the funds of the society were made available by the government of india, that the accounts of csir were ..... family welfare, the central government exercises deep and pervasive control over the first respondent's functioning, finance and audit, the first respondent is running several central institutes, regional research institutes, unani in-patient and outpatient hospitals, family welfare units etc., all over india, it holds health melas, camps etc, its functions are of public .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2007(3)ALD282
..... learned senior counsel contends that the relief, which was not asked for, cannot be granted and to substantiate his contention, he relied on a judgment of the apex court in national board of examinations v. g. anand ramamurthy : air2006sc2484 and v.k. majotra v. union of india : air2003sc3909 .48. all the learned counsel appearing for the appellants ..... l0-wakf board, marking copies to the hon'ble minister for wakfs, the collector, krishna district, the defendant no. 1-dargah, the defendant no. l3-society and the regional officer, a.p. wakf board, krishna district, stating that the government has no power and authority to issue g.o. ms. no. 773, permitting the defendant no. l0 ..... case do not deserve application of the above said proposition.149. the other two decisions, relied upon by the learned senior counsel for the defendants i.e., national board of examinations's case (supra) and v.k. majotra's case (supra), are also equally unexceptionable, but the facts of those cases are totally different.150 .....
Tag this Judgment!