Court : Gujarat
Reported in : [2007]138CompCas204(Guj); [2007]79SCL47(Guj)
..... cannot come in the way of considering the scheme by this court as it is the body of the creditors which has floated and supported the scheme with a view to protect its own interest coupled with the intention that the company be put on sound financial footing, so that all creditors can have their dues, though with some sacrifice on ..... :provided that in the case of a company in liquidation, the amount realized from the sale of secured assets shall be distributed in accordance with the provisions of section 529a of the companies act,1956 [1 of 1956]:provided further that in the case of a company being wound up on or after the commencement of this act, the secured creditor of such company, who opts to realize his security ..... its articles of association, subject to the provisions of sections 78 and 100 of the act, the petitioner-company is authorised to use its share premium account for the said purpose.2.16 accordingly, the board of directors of the petitioner-core resolved in their meeting held on 25th october, 2005 that subject to the approvals of the shareholders and lenders and subject to directions and sanctions ..... proposals embodied in the scheme apply equally to all the secured creditors, domestic currency lenders as well as foreign currency lenders and the same terms ..... . the application for an order for meetings is a preliminary step, the applicant taking the risk that the classes which are fixed by the judge, unusually on the applicant's request ..... to chapter-5 of the companies act .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)1GLR481
..... sheet was framed, no decision was taken to deal with the petitioner, departmentally, it is necessary to observe that mere consideration of some reports of vigilance and other committees at the preliminary stage without even, tentative decision of the state on prima-facie facts ipso-facto, would not and should not constitute a hinderance or an impediment in the right of the petitioner ..... the respondents are directed to consider the case of the petitioner for promotion to the post of secretary from the date his junior is given promotion, irrespective of the pendency of such inquiries and to take a decision on or before 31st january, 2005, on `ad-hoc' basis, in accordance with the prevalent rules and in the event of his fitness and ..... propositions of law in the realm of service jurisprudence, the right of the employee to take disciplinary action by following the principles of natural justice in a domestic tribunal or in-house process, if prima-facie case, which is not within the prohibited parameters, like being stale or delayed, should not be intercepted by ..... of discipline in the employment has to be, also, considered and protected, but at the same time, in exercise of such powers, administrative or in its departmental inquiries, the disciplinary authority cannot afford to be biased or unfair, unreasonable or act in any manner, leading straightway to the presumption of victimisation and ..... prompted them to open a closed chapter after a lapse of 8 ..... from one reputed and accredited (women .....
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