Judgment Search Results Home > Cases Phrase: public debt act 1944 amending act 4 amendment act 44 of 1972 Page 1 of about 13,471 results (0.348 seconds)

G.N. Venkataswamy Vs. Tamil Nadu Small Industries Development Corporat ...

Court : Chennai

Reported in : AIR1981Mad318; (1981)2MLJ254

..... the object of that amendment was :'the public debt and securities of the union and part a states are at present administered by the reserve bank of india in accordance with the public debt act, 1944, and the rules made thereunder ..... the public debt act 1944 was amended by act vi of 1949.the object 'of that amendment was :-'until 1946 the indian securities act, 1920, governed the securities issued by both the central and the provincial ..... , c.j.this batch of writ petitions raises common questions regarding the validity of section 52-a of the tamil nadu revenue recovery act (i of 1864) as amended by the tamil nadu act 12 of 1972, hereinafter referred to as the act. ..... in view of the above contentions of the parties, the primary question that arises for consideration is whether the tamil nadu legislature has the necessary competence to enact section 52-a of the act by the amending act 12 of 1972.6. ..... . for these reasons we hold that section 52-a of the act as introduced by the tamil nadiu act 12 of 1972 is ultra vires the powers of the tamil nadiu legislature ..... said 'entry will have no power to enact a law for the purpose of collecting the dues owed by a person to a corporation like the corporations with which we are concerned and from this point of view, section 52-a of the act, as introduced by the tamil nadu act 12 of 1972, will be outside the legislative competence of the state.47 ..... authoris-d officer, land reforms, madurai, : [1972]1scr1055 , in particular paragraph 29 thereof.21. .....

Commissioner of Wealth-tax Vs. Smt. Janki Kishori Devi

Court : Allahabad

Reported in : (1992)102CTR(All)18; [1991]192ITR229(All); [1991]59TAXMAN206(All)

..... according to section 2(2) of the public debt act, 1944, as it stands amended up to date, the expression 'government security' means -(a) a security, created and issued by the government for the purpose of raising a public loan, and having one of the following forms, namely - (i) stock transferable by registration in the books of the bank ; or (ii) a promissory note payable to order ; or (iii) a bearer bond payable to bearer ; or (iv) a form prescribed in this behalf ; (b) any other ..... distinction between the meaning given to the expression 'government security' in the two acts referred to above is that, while under the indian securities act, 1920, the 'government security' must be issued in respect of 'any loan contracted' either before or after the passing of the said act, the one under the public debt act, 1944, must be created and issued by the government for purposes of 'raising a public loan' and 'having one of the forms' enumerated in sub-clauses (i) to (iv) of clause (a) of sub ..... intitially, this act dealt with the public debt, and securities of the union and part a states but by means of an amendment act 57 of 1956, made with the concurrence of provincial governments of part ii state, the public debt act was made applicable to the securities created and issued by the governments of part b states as well and by moans of the amending act 44 of 1972, it was extended to jammu and kashmir also. .....

inderjeet Arya and Another Vs. Icici Bank Ltd.

Court : Delhi

..... 548, para 9) the argument on behalf of the first respondent is that while this provision provides for the continuation of proceedings against the industrial company, there is no provision in the said act which provides for the continuation of any held-up proceeding against the guarantor of a loan or advance to such company and that, therefore, section 22 should be read as applying only to a suit against the industrial company ..... a sanctioned scheme is under implementation or where an appeal under section 25 relating to an industrial company is pending, then, notwithstanding anything contained in the companies act, 1956 (1 of 1956), or any other law or the memorandum and articles of association of the industrial company or any other instrument having effect under the said act or other law, no proceedings for the winding up of the industrial company or for execution, distress or the like against any of the properties of the industrial ..... the learned counsel contended that the recovery proceedings taken out under the recovery of debts due to banks and financial institutions act, 1993 (in short rddb act) would surely be covered under the term suit, as it fulfilled the test laid down in paramjit singh patheja ..... public money (recovery of dues) act, 1972 (in short uppm act ..... the object for enacting sica and for introducing the 1994 amendment was to facilitate the rehabilitation or the winding up of sick ..... the construction of the bar of suit section in the central excises and salt act, 1944. .....

Harish Tara Refractories (P) Ltd. Vs. the Certificate Officer and ors.

Court : Kolkata

Reported in : AIR1985Cal56

..... it has further been argued that it was competent for the state legislature to pass any act for recovery of public debts of the state by virtue of entry 43 of the list ii of the seventh schedule ; but the state legislature was not competent to pass any law in respect of recovery of any money payable to a bank nor could it give an unnatural meaning to the expression 'public debt' and pass a law in respect of something which is not inherently a 'public debt' at all. ..... in this connection, reference was made to the preamble of the act where it has been stated that the act was an act 'to consolidate and amend the law relating to the recovery of public demands in bihar and orissa'.9. ..... there is an additional factor to be borne in mind in this case and that is that the amendment act 4 of 1974 passed by the bihar legislature had been reserved for and had actually received the assent of the president under article 254(2) of the constitution.30. ..... reference was also made to entry 3 of the state list and it was contended that the amending act iv of 1974 had nothing to do with the 'procedure in rent and revenue courts' and any money payable to the state bank of india was neither rent nor revenue. ..... in view of the interpretation given to this phrase by the supreme court, this power must necessarily include the power of enlarging or diminishing the jurisdiction of the courts, the bihar legislature by the amending act iv of 1974 has merely enlarged the jurisdiction of the. .....

State of Tamil Nadu Vs. G.N. Venkataswamy and Others Etc. Etc.

Court : Supreme Court of India

Reported in : AIR1995SC21; JT1998(4)SC512; 1994(3)SCALE261; (1994)5SCC314; [1994]Supp1SCR322

..... of india in support of his contention that the tamil nadu legislature was competent to enact section 52-a of the act: -entry 3 list ii (as it was before constitution (forty-second amendment) act, 1976).administration of justice; constitution and organisation of all courts, except the supreme court and the high court; officers and servants of the high court; procedure in rent and revenue courts; fees taken in all courts except the supreme court.entry 43 list ii: public debt of the state. ..... who spoke for the bench posed the question before the bench in the following terms: -whether article 15 (inserted by bihar act of 1974) of schedule 1 of the bihar and orissa public demands recovery act, is beyond the competence of the state legislature, is the significant common question in this set of 6 writ petitions, placed for an authoritative decision by a division bench. ..... bihar and orissa public demands recovery act, 1914 (the bihar act) was amended by act iv of 1974 thereby incorporating 'any money payable to the state bank of india' within the list of public demands set out in schedule 1 to the bihar act. ..... i have already held that monies due to the state owned banks would come well within the ambit of public demands and equally their recovery both within and outside the state, by virtue of entry 43 of the concurrent list iii. ..... the tamil nadu revenue recovery act, 1864, (the act) was amended by the tamil nadu revenue recovery (amendment) act, 1972 and section 52-a was inserted in the act. .....

Sumer Chand Vs. the Haryana Khadi and Village Industries Board and Ano ...

Court : Punjab and Haryana

Reported in : AIR1991P& H106

..... the bench after referring to entry 43 of list ii which relates to 'public debt' of the state came to the conclusion that the expression 'public debt' refers to only borrowing by the state from the public and does not take in any amount payable by the public to the government and on that basis ultimately came to the conclusion that it is not open to the state legislature by a fiction to treat something which is not land revenue as land revenue and make ..... with the principal object that all sums, including grants and loans given by the board or any interest or costs in respect thereof, becoming due to the board under the act, and whether such sums have become due by virtue of any contract or otherwise shall be recoverable as arrears of land revenue. ..... we, however, want to make it clear that we have construed the provisions of section 57 of the land revenue act in the context of loan advanced by the board and these principles are inapplicable in the matters of recovery of taxes ..... section 52-a as added by the amending act postulated that the amount due to the corporation limited and such other corporations could be recovered as arrears ..... may, with the previous sanction of the state government, make regulations consistent with the act and the rules made thereunder and such regulations shall be notified in the official ..... (as amended by act no. ..... the amount payable to the board, which is a statutory body under the act, by virtue of this provision is recoverable in the same manner as arrears .....

The Catholic Bank of India Ltd., (In Liquidation) Vs. George Jacob

Court : Kerala

Reported in : AIR1968Ker3

..... any law, contract or decree or order of court,-- (i) interest shall be calculated at the rate applicable to the debt under the law, contract or decree or order of court under which it arises or at five per cent per annum simple interest, whichever is less, up to the date of publication in the gazette of the kerala agriculturists debt relief (amendment) act, 1960, and at the rate applicable to the debt under the law, contract or decree or order of court under which it arises or at seven per cent per ..... any law, contract or decree or order of court,-- (i) interest shall be calculated at the rate applicable to the debt under the law contract or decree or order of court under which it arises or at five per cent per annum simple interest, whichever is less up to the date of publication in the gazette of the kerala agriculturists debt relief (amendment) act 1960, and at the rate applicable to the debt under the law, contract or decree or order of court under which it arises or at seven per cent per ..... annum simple interest, whichever is less, with effect on and from the date of the publication in the gazette of the said act; but nothing in this clause shall be deemed to require a re-appropriation .....

Thana Electric Supply Company Ltd. and ors. Vs. Maharashtra State Elec ...

Court : Mumbai

Reported in : AIR1985Bom48; ILR1985Bom1514

..... part of the board to pay such purchase price amounted to a debt or chose in action; that the amending act of 1976 purported to extinguish a part of this property right; that this amounted to acquisition of that part of the debt which was the difference between the market value of the undertaking and its depreciated book value; that this acquisition was without payment of compensation, and was without a public purpose inasmuch as it was only to augment the revenue of the state ..... an actionable claim, therefore, does not, as applied to the present case, go beyond the term 'debt' and, as we have seen, there was no debt due by the board to the company on the day the amending act of 1976 came into force so that there was no acquisition of any part of it.37. ..... in the affidavit in reply made on behalf of the board to amendments to the petition it is submitted that the public purpose of the amending act of 1976 was evident from the statement of objects and reasons thereof. ..... the affidavit in reply to the petition made on behalf of the board contends that the legislature is the sole judge of public interest and that the provisions of the amending act of 1976 are made in the public interest. ..... on the facts before us, in our view, no debt had come into existence when the amending act of 1976 was brought into force. ..... in the case before us there was no debt due and owing by the board to the company on the date the amending act of 1976 came into force. .....

All India Bank Employees' Association Vs. National Industrial Tribunal ...

Court : Supreme Court of India

Reported in : AIR1962SC171; [1962]32CompCas414(SC); [1961(3)FLR307]; (1961)IILLJ385SC; [1962]3SCR269

..... is also a protected right, with the result that there is a constitutional guarantee that every association shall effectively achieve the purpose for which it was formed without interference by law except on grounds relevant to the preservation of public order or morality set out in clause (4) of article 19 putting aside for the moment the case of labour unions to which we shall refer later, if an association were formed, let us say for carrying on a lawful business such as a joint ..... government of india intervened by a notification dated march 29, 1927 under section 151 of the companies act 1913 amending form 'f' and as amended banks were excluded from the requirement of disclosing the reserve for bad and doubtful debts under the heading 'capital and liabilities' in the left hand side of the balance-sheet, and in the right-hand column 'book debts which were bad and doubtful for which provision had been made to the satisfaction ..... production was thus sought were (1) statements showing 'the secret reserves in any form' of each bank from 1954 right upto december 31, 1959; and (2) statements showing the provision made 'for bad and doubtful debts and other usual and necessary provisions' during the years 1954 to 1959 and the total amounts outstanding in such items in each bank in the said years. ..... 1944 bom. .....

Desh Bandhu Gupta Vs. M.L. Anand and anr.

Court : Mumbai

Reported in : (1993)95BOMLR764

..... it is made manifest by order xxi, rule 54(1-a) brought on statute by 1976 amendment act with peremptory language that before settling the terms of the proclamation the judgment-debtor shall be served with a notice settling the terms of the ..... -application of mind whether sale a part of the property would satisfy the decree debt is a material irregularity doing substantial injury to the appellant attracting order xxi, rule ..... prevents him to do the above and also disables him to know fraud committed in the publication and conduct of sale or other material irregularities in the conduct of sale. ..... is a forced sale and notwithstanding the competitive element of a public auction, the best price is not always forthcoming. ..... under rule 66(2) proclamation of sale by public auction shall be drawn up in the language of the court and it should be done after notice to the decree-holder and the judgment-debtor and should state 'the time and place of sale' and ..... executive court's lack of pecuniary jurisdiction and absence of wide publicity led to fetching of less price. ..... covers the field of material irregularities or fraud in publicity or conducting the sale. ..... moved an application under order xxi, 21 rule 66, cpc for warrant of proclamation of sale by public auction of the property of j.d-1. ..... to scrupulously comply with the mandatory procedure and did not apply its mind to the mandatory duty cast on it by order xxi, rule 66 to settle the terms of proclamation of sale, and proper publication under rule 67. .....