Court : Gujarat
Reported in : [2002]110CompCas539(Guj); (2002)2GLR1182
..... i do not find any merits in the say of the applicants that the ex-parte order passed by this court needs to be recalled.11.2 so far as the role of this court in proceedings under section 391(1) of the act is concerned, in special reference to class point raised by the applicant-banks, i have considered the observations made by various courts in number of decisions brought to the notice of this court including three decisions in the cases of ..... in re english, scottish and australian chartered bank at 392, justice vaughan williams observed thus :i do not think that any one who has followed the subsequent decisions -whether under the companies act or the bankruptcy acts - will hesitate to say that the tendency of late has been rather to favour the power of the majority of creditors to impose their will upon the minority and to construe the ..... only) in favour of he gujarat board for industrial and finance reconstruction for meeting with the administrative costs of the g.b.i.f.r. ..... it may deem fit, for considering, monitoring and reviewing the rehabilitation scheme from time to time and in any case the g.b.i.f.r. ..... 2-company, reporting about progress of the rehabilitation scheme and recommending whether to extend or curtail the period of operation ..... was required to propose a rehabilitation scheme with a view to comply with the order passed ..... (i) with a proposed rehabilitation scheme that envisages repayment of loans and interest to the petitioners as well as other ..... that rehabilitation scheme .....
Tag this Judgment!Court : Gujarat
Reported in : (2009)1GLR59
..... act or the rules made thereunder shall be in addition to, and not in derogation of, the industrial finance corporation act, 1948, the state financial corporations act, 1951, the unit trust of india act, 1963, the industrial reconstruction bank of india act, 1984 and the sick industrial companies (special provisions) act, 1985 and the small industries development bank of india act ..... 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 ..... with preparation of schemes, rehabilitation and arrangement for continuing operations ..... by appellant against respondents, where, contention raised by respondent vide exh.44 that respondent being a sick unit declared by board of industrial finance and reconstruction (hereinafter referred to as 'bifr'), therefore, under section 22(1) of sica, present suit is not to be maintainable against ..... proceedings pending against the company are covered by section 22 of sica, non-obstante clause in section 34 of rddb act, which is a subsequent legislation will operate and recovery could not have been suspended, stalled or arrested.interpretation of statutes .....
Tag this Judgment!Court : Gujarat
Reported in : (1974)ILLJ1Guj
..... true, as observed by this court in the earlier award, that the standing orders were framed for operatives in the year 1939 and these provisions were framed before leave provisions were made in the factories act; that as there was no leave provision, paid or unpaid, there was a constant fear amongst workers of losing employment since there was no guarantee of re-employment on return from leave and it was to remedy this ..... the general absence amounts to about 13 per cent, the statements themselves reveal that about 4 to 5 per cent of this is on account of sickness; that separate provisions have now been made under the employees state insurance act for sickness and therefore the need of the worker is about 8 per cent or about 25 days; that of this the provision is already made by 5 days paid casual leave and about 14 or 15 days' privilege leave ..... placed on the report of the manubhai shah committee in support of the claim that industry badly requires a very large amount for rehabilitation and modernisation in the next few years and the amount available with the industry is entirely inadequate. ..... the provisions of the indian factories act, 1948, providing annual leave of one day for every 20 days worked which came to 14 or 15 days in a year were ahead of the minimum international standard prescribed in 1954 in ..... a 13 week vacation every five years for the senior half of the work-force in order of seniority, subject to the resources available in a company financed vacation fund. .....
Tag this Judgment!Court : Gujarat
Reported in : (1966)0GLR156
..... having regard to the fact that government factories are included in the definition and only government establishments other than factories are excluded, it would have been possible to contend that having regard to the object of the act the government could legitimately be treated as a separately class by itself, for if there are any unpaid accumulations with the government, the government could always be excepted to use them for the benefit of employees ..... . as a matter of fact, these rules were applied to determine the situs of a debt for the purpose of grant of probate and administration when the power to make the grant was vested in different ecclesiastical bodies having jurisdiction over different areas within the realm in england and we find that even in canada these principles have been ..... . the long title and the preamble of the act show that the act was passed with a view to constitute a fund for financing of activities to promote welfare of labour in the state of bombay and for conducting ..... s. 2(m) of the factories act, 1948, were brought within the purview of the impugned provisions, though they might be employing not more than fifty persons, while other establishments employing not more than fifty persons were ..... s. 2(m) of the factories act, 1948, and it means any premises where a manufacturing process is carried on and were ten or more workers are working in case where power is used and twenty or more persons are working in case where no power ..... .) (1948) c.l.r. 84)] .....
Tag this Judgment!Court : Gujarat
Reported in : [2007]138CompCas204(Guj); [2007]79SCL47(Guj)
..... whatever nature relating to the said financial asset s pending by or against the bank or financial institution, save as provided in the third proviso to sub-section [1] of section 15 of the sick industrial companies [special provisions] act, 1985 [1 of 1986] the same shall not abate, or be discontinued or be, in any way, prejudicially affected by reason of the acquisition of financial asset by the securitization company or reconstruction company, as the case ..... or financial institution shall, after the acquisition of the financial assets, be of as full force and effect against or in favour of the securitization company or reconstruction company, as the case may be, and may be enforced or acted upon as fully and effectually as if, in the place of the said bank or financial institution, securitization company or reconstruction company, as the case may be, had been a party thereto or as if they had been ..... scheme for restructuring or revival of the company and it directs that such company be restructured in its finances or capital or by reduction of share capital or by disposal of the property, then the ..... . an arrangement, as the expression is used in the companies act, 1948, embraces a far wider classes of agreement, and it need be in no way analogous to a compromise, so that it will include agreements which modify rights ..... efficient and economic control in the running operations and would lead to economy in the administrative and management cost, resulting in improving profitability .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)3GLR2515
..... provides extra wages for overtime.8.5i the learned advocate further submitted that in view of section 30 of the act and in view of the schedule and in view of that the employment in drilling operation and maintenance of tube wells has been added to part i of the schedule to the minimum wages act, 1948 by government of gujarat, labour, social welfare and tribal development department notification dated 26.5.1977, this employment is ..... (2001) 8 scc 97 para 6.finding of the court on preliminary issue:7.0 'law is well settled by various decisions of this court that the high court can interfere under article 227 of the constitution in cases of errorneous assumption or acting beyond its jurisdiction, refusal to exercise jurisdiction, error of law apparent on record as distinguished from a mere mistake of law, arbitrary or capricious exercise of authority or discretion, a patent error in procedure, arriving at a finding which is ..... that the requirement of a reasoned decision prevents the abuse of administrative discretion and ensures that the decision is impartial, objective and in ..... any merits.11.4 the learned advocate further submitted that the petitioner corporation is incorporated under the companies act as stated in the reply filed by the corporation before the tribunal and certificate of incorporation was given on 7.5.1971, and therefore it was a company though it is owned and finance by state government but the affairs of the petitioner corporation is run under the provisions of the .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1972Guj103; (1972)GLR577
..... was the first informant who brought to the notice of the custodian concerned that the property of aboobakar was evacuee property and in view of the order of the ministry of rehabilitation he was, as a first informant, entitled to first consideration in the allotment of this property, the additional custodian was bound to hear him on the truth and ..... the learned advocate, appearing on behalf of the petitioners-taluqdars, that the appeal preferred by the state government against the order of the tribunal, determining the compensation under section 32-p(4) of the tenancy act consequent to the vesting of the lands in question in the state government as the compulsory sales had become ineffective, was not competent, inasmuch as the order of the tribunal determining compensation under ..... . we would, however, make two observations: (1) that the mere fact that certain artificial entitles, like corporations art brought, within the scope of the act, would not by itself rebut the presumptive rule of construction that the state is not bound by a statute unless it is brought within its scope expressly or by necessary implication, (2) it would not ..... villages rani and ranod in district mehsana have challenged the right of the state government to file an appeal under section 32-p(9) of the bombay tenancy and agricultural lands act, 1948, as well the order made by the opponent no. ..... right of the tribunal constituted to hear appeals under section 24 of the administration of evacuee property act (1950) .....
Tag this Judgment!Court : Gujarat
Reported in : (1988)1GLR481; (1988)IILLJ534Guj
..... the body had a distinct juristic entity and carried out its functions on business principles with a certain amount of autonomy, in reality it was the government which was acting through its instrumentality or agency and the juristic veil of corporate personality worn for the purpose of convenience of management and administration cannot obliterate the true nature of realities. ..... the respondent avers that the food corporation of india, delhi administration, gujarat, kerala, maharashtra, tamilnadu and west bengal respectively hold one share each whereas the remaining shares are held by the government of india, state government ..... criteria laid down in ajay hasia's case (supra), the supreme court held that the indian statistical institute, a society registered under the societies act, 1860 and wholly financed by the union of india, was an 'authority' within the meaning of art. 12. ..... statutory corporations, namely, oil and natural gas commission, life insurance corporation and industrial finance corporation were, held to fall within the meaning of 'the state' as defined ..... case (supra) the supreme court held that the indian council of agricultural research which was a society registered under the societies registration act was an instrumentality of the state falling within the expression 'other authority' within the meaning of art. ..... held per majority that the electricity board of rajasthan constituted under the electricity (supply) act, 1948 came within the definition of 'the state' in art. .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1967Guj172; (1967)0GLR686
..... rights of the licensee to make unilateral increase in the rate and all those provisions are treated as void in so far as they are inconsistent with the rights given to the licencee by the vith schedule of the supply act, the licensee is still under a fetter so far as the same is created either by section 57(2) as it originally stood or by section 57a and he is bound to give effect to any order which was issued ..... -section (1) deemed be incorporated in the licence of any licensee, the following provisions shall have effect in relation to the said licensee, namely - (a) the board, or where no board is constituted under this act the provincial government, may, if it satisfied that the licensee has failed to comply with any provision of the sixth schedule, and shall when requested so to do by the licensee, constitute a rating committee ..... , from the date of the commencement of the licensee's next succeeding year of account, and from such date the licensee shall comply therewith accordingly and any provisions of such licence or of the indian electricity act, 1910 (ix of 1910), or any other law, agreement or instrument applicable to the licence shall, in relation to the licensee, be void and of no effect in so far as they are inconsistent ..... had arisen in the context of a temporary act, bombay land requisition act, 1948, which was a temporary statute which expired ..... consider the effect of section 58(3) of the administration of evacuee property act, 1950, which was different in language from .....
Tag this Judgment!Court : Gujarat
Reported in : [2002]111CompCas118(Guj)
..... the score of jurisdiction of this court under section 391(1) is that the company is declared as a relief undertaking and during the period the notifications under section 3(1) of bombay relief undertaking (special provisions) act, 1948 ('bru act') is in force, section 391(1) cannot be invoked.it is the say of the objectors that in view of section 4(1)(a)(iv) which enacts a complete suspension of all rights and obligations of the company, the right ..... of objections raised following disputes, namely (1) that the company cannot invoke jurisdiction of this court under section 391 as the company is a 'relief undertaking' under the provisions of bombay relief undertaking act, (2) jurisdiction to entertainment this petition, (3) there is no genuine compromise or arrangement, (4) the scheme operates unfairly, while favouring some creditors, the scheme seeks to confiscate the legitimate rights and securities ..... vide its order dated 22-2-2001 requiring the petitioner company to propose a rehabilitation scheme which was to be examined by gbifr guided by the consideration, namely ..... the petitioner company earned profit for pretty long time; that the company obtained borrowings/credits from various banks and financial institutions to finance its business needs and as on 31-3-2000 the total debt of the company mounted to approximately $ 593 million or rs. ..... managing director, director (finance), one nominee director and ..... of directors and director (finance) will be independent persons not ..... financing .....
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