Court : Delhi
..... two grounds, one concerning the rate of interest, the submission being that it is excessive and, the other, that the offending vehicle in question being a gas tanker, one meant for carrying hazardous goods, the liability could not have been fastened on the insurance company without the driver or owner of the vehicle adducing proof that the driver did hold a valid driving licence for a vehicle of such nature.5. ..... it is observed that though the tribunal had noted the contention of the insurance company and also the effect and import of the evidence led by it on the question of driving licence, it failed to render any ..... 04.01.2007, a motor vehicular accident occurred, statedly involving negligent driving of motor vehicle described as gas tanker bearing registration no.hr38 6615 (the offending vehicle) by rajesh giri, a respondent in both ..... if there is any deficiency, the insurance company would be liable to make the same good, by requisite deposit with the tribunal within thirty days in ..... /2011 oriental insurance ..... the contention of the insurance company (appellant) about the rate of interest must be rejected since the tribunal has taken a view which is in accord with the consistent view taken by this court on the said subject [see judgment ..... the claimants had impleaded besides the driver of the offending vehicle, baldev singh, he being owner of the said vehicle, this in addition to oriental insurance company ltd. ..... appeal no.14/2010 oriental ins. co. ..... + mac appeal no.4/2010 oriental ins. co. .....
Tag this Judgment!Court : Delhi
..... two grounds, one concerning the rate of interest, the submission being that it is excessive and, the other, that the offending vehicle in question being a gas tanker, one meant for carrying hazardous goods, the liability could not have been fastened on the insurance company without the driver or owner of the vehicle adducing proof that the driver did hold a valid driving licence for a vehicle of such nature.5. ..... it is observed that though the tribunal had noted the contention of the insurance company and also the effect and import of the evidence led by it on the question of driving licence, it failed to render any ..... 04.01.2007, a motor vehicular accident occurred, statedly involving negligent driving of motor vehicle described as gas tanker bearing registration no.hr38 6615 (the offending vehicle) by rajesh giri, a respondent in both ..... if there is any deficiency, the insurance company would be liable to make the same good, by requisite deposit with the tribunal within thirty days in ..... /2011 oriental insurance ..... the contention of the insurance company (appellant) about the rate of interest must be rejected since the tribunal has taken a view which is in accord with the consistent view taken by this court on the said subject [see judgment ..... the claimants had impleaded besides the driver of the offending vehicle, baldev singh, he being owner of the said vehicle, this in addition to oriental insurance company ltd. ..... appeal no.14/2010 oriental ins. co. ..... + mac appeal no.4/2010 oriental ins. co. .....
Tag this Judgment!Court : Delhi
..... the itat itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the ia, subject to the permissible adjustments under the act ..... the cbdt, in its circular no.5/2010 dated 3rd june 2010, acknowledged that, after the introduction of the irda regulations in 2002, non-life insurance companies are required to credit income from the sale of investments directly to the p&l account. ..... 16th december 1988 was issued by the central board of direct taxes ( cbdt ) which purported to introduce through the rules a policy of liberalisation of provisions in respect of taxation of profits and deduction of tax at source applicable to the holding company' of the assessee, that is, the gic and its subsidiaries (including the assessee). ..... a conspectus of the above provisions of the ia makes it clear that there is no option with a company carrying on general insurance business, like the assessee, to treat any part of its investment as stock-in-trade as is sought to be contended by the revenue before the ..... the assessee was originally incorporated on 12th september 1947 as the oriental fire insurance company ltd. ..... chaudhuri, advocates versus + + commissioner of income tax (ltu), new delhi .....appellant ita no.447 of 2015 ita no.448 of 2015 oriental insurance company ltd. ..... however, when that appeal came to be decided by the decision in oriental insurance company v. .....
Tag this Judgment!Court : Delhi
..... the itat itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the ia, subject to the permissible adjustments under the act ..... the cbdt, in its circular no.5/2010 dated 3rd june 2010, acknowledged that, after the introduction of the irda regulations in 2002, non-life insurance companies are required to credit income from the sale of investments directly to the p&l account. ..... 16th december 1988 was issued by the central board of direct taxes ( cbdt ) which purported to introduce through the rules a policy of liberalisation of provisions in respect of taxation of profits and deduction of tax at source applicable to the holding company' of the assessee, that is, the gic and its subsidiaries (including the assessee). ..... a conspectus of the above provisions of the ia makes it clear that there is no option with a company carrying on general insurance business, like the assessee, to treat any part of its investment as stock-in-trade as is sought to be contended by the revenue before the ..... the assessee was originally incorporated on 12th september 1947 as the oriental fire insurance company ltd. ..... chaudhuri, advocates versus + + commissioner of income tax (ltu), new delhi .....appellant ita no.447 of 2015 ita no.448 of 2015 oriental insurance company ltd. ..... however, when that appeal came to be decided by the decision in oriental insurance company v. .....
Tag this Judgment!Court : Delhi
..... hindustan construction company (decision dated 24th february 2016 in fao (os) nos. ..... oriental structural engineers pvt. ..... hindustan construction company (supra) and national highways authority of india v. ..... oriental structural engineers pvt. ..... -oriental structural engineers ltd (jv) arising out a contract agreement ( ca ) dated 12th january 2001 whereby the work of four laning and strengthening of the existing two lane sections between km. .....
Tag this Judgment!Court : Chennai
..... of the deceased and upon perusal of the same, the tribunal has observed that at the time of accident, the deceased was working as operator in the abovesaid company and during april' 2011, he had earned rs.1,68,800/- per annum, and during february' 2012, earned rs.1,73,820/- per annum. ..... reported in 1997 acj 1388, oriental insurance company ltd., v. ..... oriental insurance company ..... to claim compensation, cannot be countenanced, for the reason that the issue as to whether, a brother or sister of the deceased can maintain a claim petition for compensation has been considered by this court in oriental insurance company v. ..... the expressions used in the statute, should ordinarily be understood, in which, they harmonise with the object of the statute, to effectuate the object of the legislature and the court should adopt an object oriented approach, keeping in mind the language employed in the statute. ..... former case, it was the contention of the appellant-insurance company that brother/sister is entitled to claim compensation only under 'no ..... the amount of rs 50,000 paid by the insurance company under section 140 shall be deducted from the principal amount as on the date of its payment, and interest would be recalculated on the balance amount of the principal ..... claimants, married sons and married daughters, would be entitled for compensation" while addressing the abovesaid question, a learned judge has considered two decisions relied on by the appellant-insurance company therein in revanben v. .....
Tag this Judgment!Court : Delhi
..... counsels appearing for the applicant that the applicant company entered into a facility agreement dated 12th july, 2010 with the shiv-vani oil and gas company llc (svogcl), a limited liability company incorporated under the laws of sultanate of oman and a subsidiary of the judgment debtor for providing credit facilities to the tune of usd ..... that the applicant vide its letter dated 16th may, 2014 had already notified the citicorp that in terms of the facility agreement and certain other related agreements, oriental had created first and exclusive charge on all its assets including on the charged rigs in favour of the applicant. ..... at the same time vide deed of assignment and charge dated 4th september, 2009 between the oriental and the applicant, oriental assigned to the applicant all its present, future right, title and interest in the said ..... thereafter, vide deed of fixed and floating charge dated 9th september, 2009 between oriental and the applicant herein, oriental also created a first fixed and floating charge over its assets, including over the charged rigs in favour ..... lease agreement dated 4th september, 2009 between oriental and judgment debtor, oriental leased the charged rigs to the judgment ..... in exercise of the rights under the deed for fixed and floating charge, the applicant in may, 2014 has already appointed receivers in respect of oriental assets in india and they are authorised to exercise inter alia power of sale in respect of oriental assets including the charged rigs. .....
Tag this Judgment!Court : Chennai
..... requisite majority; (xi) the scrutinizer shall, within a period of not exceeding three working days from the date of conclusion of e-voting period, unblock the votes in the presence of at least two witnesses not in the employment of the company and make a scrutinizer's report of the votes cast in favour or against, if any, forthwith to the chairman; (xii) the scrutinizer shall maintain a register either manually or electronically to record the assent or dissent, received, ..... advertisement to be published, not less than five days before the date of beginning of the voting period, at least once in a vernacular newspaper in the principal vernacular language of the district in which the registered office of the company is situated, and having a wide circulation in that district, and at least once in english language in an english newspaper having a wide circulation in that district, about having sent the notice of the meeting and specifying therein, ..... of the voting on any resolution on show of hands, a poll may be ordered to be taken by the chairman of the meeting on his own motion, and shall be ordered to be taken by him on a demand made in that behalf, (a) in the case a company having a share capital, by the members present in person or by proxy, where allowed, and having not less than one-tenth of the total voting power or holding shares on which an aggregate sum of not less than five ..... sc 460 (oriental investment co. ..... tax, madras), air 1969 sc 460 (oriental investment co. .....
Tag this Judgment!Court : Jharkhand
..... july 24, 1948, under an agreement entered into between the oriental gas company and the calcutta gas company, the latter was appointed the manager of the former company in india for a period of 20 years from july ..... under the agreement, therefore, the appellant had the right to manage the oriental gas company for a period of 20 years and to receive the aforesaid amounts towards its remuneration ..... the third specifying october 7, 1960, as the date with effect from which the state government would take over for a period of five years the management and control of the undertaking of the oriental gas company for the purposes of, and in accordance with, the provisions of the said act. ..... the agreement, the appellant had the right to manage the oriental gas company for a period of 20 years and to receive remuneration for ..... oriental gas company was -33- originally, consituated by a deed of settlement dated april 25, 1853, by the name of the oriental gas company, and it was subsequently registered in england under the provisions of the english joint stock companies ..... oriental gas company is the owner of the industrial undertaking, inter alia, for the production, manufacture, supply, distribution and sale of fuel gas ..... 4 to the petition were the state of west bengal and the concerned officers, and respondent 5 was the oriental gas company limited. ..... by act v of 1857 passed by the legislative council of india, it was empowered to lay pipes in calcutta and its suburbs and to excavate the streets for .....
Tag this Judgment!Court : Delhi
..... " again, at pages 5 and 6 of the documents filed by the respondents company, the said consultant have again reiterated in point no. ..... , did not examine the correctness of those findings from the lens of patent illegality or the other relevant factors which would render an arbitral award invalid or unenforceable in terms of the settled law (oil and natural gas commission vs saw pipes, (2003) 5 scc 705). ..... master construction company 2011 (12) scc 349 and new india assurance company ltd. v. ..... oriental insurance co. ..... master construction company, the requirement of the court having to be satisfied with the plea of "duress and coercion" even at the stage of appointment of an arbitrator was emphasized. ..... in oil and natural gas commission (supra), the supreme court set aside the arbitral award on the ground that the tribunal had failed to consider sections 73 and 74 of the contract act, and relevant precedents, in awarding damages. ..... in this appeal, the correctness of the learned single judge's order and judgment, in omp 245/2002 preferred by the respondent gas authority of india ltd. .....
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