Court : Allahabad
Reported in : [2004]122CompCas854(All); (2004)2CompLJ105(All)
..... erosion of more than 50% in the net worth of the company would attract section 23(a)(2) and (3) of the sick industrial companies (special provisions) act, 1985, (hereinafter referred to as the sica). he also pointed out that, in the next year, the accounting period was increased to 18 months and at the end of ..... class of equity shares held by the promoter group, if it can be dubbed as a class, is adverse to any other equity shareholder. the scheme is universal in its application to all equity shareholders who get similar treatment. thus, it cannot be said that there was any class or sub-class of members who ..... sebi into alleged violation of regulation 11 of the sebi (substantial acquisition of shares and takeovers) regulation, 1997, by the main promoter, sri jaiprakash gaur and 3 other persons acting in concert with him, namely, shivajay enterprises ltd. (formerly, known as kamran consultants (p) ltd.), jaypee ventures ltd. (formerly, known as international design engineers associates ltd .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1997All44; (1996)3UPLBEC1691
..... a condition for granting aid to their education institutions.'in st. xaviers college case (air 1974 sc 1389) (supra) validity of section 51a of gujarat university act came up for consideration which provided that no member of the teaching, other academic and non-teaching staff of affiliated college shall be dismissed or removed or ..... , which submitted its report on 2p-6-1985. thereafter, a sub-committee was formed to inquire into the allegations made against the petitioner. petitioner was served with charge sheet, in reply to which the ..... months' leave and went abroad. after expiry of the said leave she reported for duty but was not allowed to join. on a complaint dated 27-4-1985 received from district inspectress of girls schools, saharanpur, against the petitioner, the committee of management resolved to conduct an inquiry. the inquiry committee was set up .....
Tag this Judgment!Court : Allahabad
Reported in : 2004(2)AWC959
..... it is running various business establishments all over the india. each of the business of the company is a separate establishment having separate financing management and control. m/s. universal tyres ltd., a public limited company, was running a factory at naini, allahabad, manufacturing tyres and tubes. the establishment was running into losses. jay shri tea and ..... found that the closure will result into unemployment to 475 workmen/employees. the state government also found that in the director's report of the years 1984-85, 1985-86, the directors had declared that the unit has improved its production and working result for the year, and that the production has some what improved, and ..... application dated 4.1.1986 for closing down the concern is not only unreasonable but is also illegal.12. section 6w (5) of the u.p. industrial disputes act, 1947, provides that where a reference is made to tribunal, it shall pass an award within 30 days from the date of reference. in this case, the .....
Tag this Judgment!Court : Allahabad
Reported in : [2002]112CompCas562(All)
..... be transferred to dalmia industries ltd. and its nominated company. subsequently a reference was made under section 15(1) of the sick industries company (special provisions) act, 1985 and the company (in liquidation) was declared sick on 7-10-1992. the floor price set by the government for sale in the tender notice dated ..... that in the present case winding up proceedings are being taken under section 20 of the sick industrial companies (special provisions) act, 1985 read with companies act, 1956. the virus of the sickindustrial companies (special provisions) act, 1985 has been upheld by madras high court as well as supreme court in j.m. malhotra v. union bank of ..... dated 28-12-1993, the state bank of india, allahabad bank and idbi were directed under section 21 of the sick industrial companies (special provisions) act 1985, to prepare a complete inventory of all assets and liabilities and lists of registers/records/documents of shareholders and creditors and to get valuation done and to .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1957All662
..... issued directing the opposite-party no. 1 to renew the registration number of the petitioner for 'manorama' within the meaning of section 9. of the post offices act. the petitioner during all this period was granted interim order directing the opposite parties to treat the petitioner's magazine as a registered magazine.3. notices were issued ..... from year to year.this company is publishing three other publications 'maya', 'manohar kahaniyan' and 'man mohan', which were all registered as newspapers under the provisions of act vi of 1898. writ petition no.98 deals with the periodical known as 'man mohan'. writ petition no. 99 deals with the periodical known as 'manohar kahaniyan' ..... the publication is not a newspaper according to the definition given in that act, or (ii) in the case of a newspaper published in the french or portuguese territories in india, by a recommendation in writing from the consul general for india at pondicherry or goa as the case may be in support of the application. (3 .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1994All66
..... it can be safely presumed that bulk power is also available in the area for industrial use. learned counsel has also shown from the 'atlas of india' published by oxford university press, new delhi that babarala is centre for chemical industries. these facts undoubtedly show that the acquired land has potentiality for future development and this fact has to be kept ..... all lj 361). there is no evidence on record to show that there was any upward revision in prices between the dateof notification under section 4 of the act and 16-12-1985 or 6-8-1986 as the subsequent exemplars are of these dates. even the witness examined by the tatas has not said anything in this regard in his ..... in the vicinity of the said road. village pawari is not connected by any metalled road.15. as already stated, the notification under section 4 of the act was published on 17-8-1985. two sale deeds of village pawari and one sale deed of village baghau filed as exemplars are of a date which is subsequent to the rate of .....
Tag this Judgment!Court : Allahabad
Reported in : 1992CriLJ3866
..... a panchayatnama was prepared on the spot and recovered heroin was seized under the narcotic drugs and psychotropic substances act, 1985 (hereinafter referred to as 1985 act). consequent upon this, statements were recorded under section 67 of the 1985 act. they were placed under arrest on 13th august, 1990, at 6.00 p.m. for having committed ..... mind of the detaining authority when it records in paragraph 21 of grounds of detention 'even though prosecution proceedings under the narcotic drugs and psychotropic substances act, 1985 are likely to be initiated against you', when, in fact, not only complaint against the petitioner was filed by the respondent authority, but even bail ..... of mind to the detaining authority is on account of its recording in the ground of detention 'prosecution proceedings under narcotic drugs and psychotropic substances act, 1985, are likely to be initiated against you'. it was urged if the mind was applied to the three documents on the record viz. complaint being .....
Tag this Judgment!Court : Allahabad
Reported in : 1999(3)AWC1956; [1999(82)FLR720]
..... financial reconstruction (b.i.f.r.) on a reference made to it recommended to this court for its winding up under sick industry [special provisions) act, 1985. the recommendation was accepted on 20.2.1996 and the company was winded up. the assets of the company were handed over to the official liquidator ..... ' by theemployer of the services of theemployees of the company. similarargument was rejected by the apexcourt while interpreting section 2(oo) of the industrial disputes act,1947 which defines retrenchment tomean, 'the termination by theemployer of the service of a workmanfor any reason whatsoever, otherwisethan as a punishment inflicted byway of ..... thegovernment to provide absorption ofthe employees of the company ingovernment service by giving thempriority. the scheme of re-employment of retrenched workmenas given in the act has been extendedto employees of the company. i am,therefore, of the opinion that the rightof absorption of an employee of agovernment company cannot becurtailed .....
Tag this Judgment!Court : Allahabad
Reported in : 2003(2)AWC1054; II(2003)BC305; [2003]117CompCas366(All)
..... to huge losses, and that the company had become sick industrial company within the meaning of section 3(o) of the sick industrial companies (special provisions) act, 1985 (hereinafter called 'the act'). a reference was made to the board of industrial and financial reconstruction (hereinafter called as 'b.i.f.r.') on 11.8.1999. it was ..... for industrial and financial reconstruction dated 22.11.2001, holding the reference filed by the company under section 15(1) of the sick industrial companies (special provisions) act, 1985, on 13.8.1999 to be non-maintainable on account of undue delay of nearly two years.2. i have heard sri ravi kant, senior advocate, assisted ..... determination and practicable despatch of all measures to be enforced were thus the impelling motives to enact the sick industrial companies (special provisions) act, 1985. in order to timely detect the sickness, the act provides the board of directors of the company to make a reference to the board. it can be made by the board of .....
Tag this Judgment!Court : Allahabad
Reported in : [2004]55SCL584(All); (2004)2UPLBEC1828
..... 1991 itself picup made reference to the 'board of industrial and financial reconstruction', for short called 'bifr' as contemplated under sick industrial companies (special provisions) act, 1985, called 'sica' and bifr, vide order dated june 2, 1992 declared the company 'sick'; appointed industrial development bank of india (idbi) for formulating rehabilitation ..... --'since section 22(1) only prohibits recovery against the industrial company, there is no protection afforded to guarantors against recovery proceedings under the u.p. act.' 21. learned counsel for the petitioner has not disputed that petitioner (in the present petition) is a guarantor. the submission of the learned counsel ..... may, having regard to its business 'activity and the area of its operation in india, by notification, specify.' 14. section 4a of companies act, while specifying various financial institutions does not include picup.15. counsel for the petitioner has not been able to show anything otherwise and had to .....
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