Court : Supreme Court of India
Reported in : AIR1966SC305; [1966]36CompCas165(SC); [1965(11)FLR137]; (1965)IILLJ175SC; [1966]1SCR25
..... itwas taken over in 1948 by the government of india, when, under the reserve bank(transfer 10 public ownership) act, 1948, the shares were compulsorily acquiredby government at a premium of rs. ..... to the conclusion that it could not give any awardregarding these employees who were'employed in a supervisory capacity, in thisconnection the reserve bank had pleaded that the reference concerned only thoseemployees who came within the definition of 'workman' in theindustrial disputes act, 1947, as amended by the amending act of 1956, and thereserve bank had contended that it was futile to fix a time scale for class iistaff because every incumbent in it was employed in a supervisory capacity andunder ..... the reserve bank relied upon item 7 of schedule i anditem 6 of schedule ii. ..... 10 of the industrialdisputes act, referred an industrial dispute, which, in its opinion, existedbetween the reserve bank and its workmen of the three classes above-mentioned.the order of reference specified the heads of dispute in two schedules, thefirst in respect of class ii and class iii staff and the second in respect ofclass iv staff ..... it is easy to see from the rival schedules that probationaryperiods are both short and long. ..... the bank in reply filed schedules. (t.67 to t ..... 339in support of the sub-rule and also contended that there was no jurisdiction inthe national tribunal to consider this subject under item 20 of schedule i oritem 21 of schedule ii. ..... the first schedule consisted of 22 items and the second of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1970SC564; [1970]40CompCas325(SC); (1970)1SCC248; [1970]3SCR530
..... an 'existing bank' was denned by section 2(b) as meaning 'a banking company specified in column 1 of the first schedule, being a company the deposits of which, as shown in the return as on the last friday of june, 1969, furnished to the reserve bank under section 27 of the banking regulation act, 1949, were not less than rupees fifty ..... 'property' means the 'highest right a man can have to anything, being that right which one has to lands or tenements, goods or chattels which does not depend on another's courtesy: it includes ownership, estates and interests in corporeal things, and also rights such as trade-marks, copyrights, patents and even rights in personal capable of transfer or transmission, such as debts; and signifies a beneficial right to or a thing considered as having a money value, especially with ..... with restrictions as to payment of dividend, prohibition of floating charge on assets, creation of reserve fund, restrictions on subsidiary company, restrictions on loans and advances, power of the reserve' bank to control advances by banking companies, restrictions on the opening of new places of business, maintenance of percentage of assets, return of unclaimed deposits, furnishing of returns to the reserve bank, publication of information by the reserve bank, submission of accounts and balance sheet to the reserve bank, inspection by the reserve bank, power of the reserve bank to give directions with regard to management, and imposition of penalties for .....
Tag this Judgment!Court : Delhi
..... : provided also that a joint venture of any two or more government companies or corporations shall be prohibited from alienating or transferring any interest, except the taking of loans or advances from a bank or financial institution, in the joint venture of whatsoever nature including ownership in favour of a third party. ..... the nominated authority regarding the following, namely:(a) the manner of allocation of the schedule i coal mine (i) public auction in accordance with the provisions of section 4 of the ordinance; or (ii) allotment under section 5 of the ordinance; (b) the specified end use in case of any schedule ii coal mine or schedule iii coal mine; (c) broad parameters for conducting auction or allotment; and (d) ..... 4.1.2 (b) stipulates that one of the conditions that a bidder would have to satisfy before he is considered eligible for bidding for the coal mine is that the extractable reserves of the coal mine should not exceed 150% of the annual coal requirement of the specified end-use plant, taken over a period of 30 years, less the requirement ..... it has been stipulated in clause 4.2.1 as under: (f) eligibility in case of generation of power being the specified end use: a person engaged in captive generation of power as defined in the electricity act, 2003 and the rules thereunder; or generation of power under case 2 as specified in the guidelines for determination of tariff by bidding process for procurement of power by distribution licensees, dated january 19, 2005, .....
Tag this Judgment!Court : Delhi
..... : provided also that a joint venture of any two or more government companies or corporations shall be prohibited from alienating or transferring any interest, except the taking of loans or advances from a bank or financial institution, in the joint venture of whatsoever nature including ownership in favour of a third party. ..... the nominated authority regarding the following, namely:(a) the manner of allocation of the schedule i coal mine (i) public auction in accordance with the provisions of section 4 of the ordinance; or (ii) allotment under section 5 of the ordinance; (b) the specified end use in case of any schedule ii coal mine or schedule iii coal mine; (c) broad parameters for conducting auction or allotment; and (d) ..... 4.1.2 (b) stipulates that one of the conditions that a bidder would have to satisfy before he is considered eligible for bidding for the coal mine is that the extractable reserves of the coal mine should not exceed 150% of the annual coal requirement of the specified end-use plant, taken over a period of 30 years, less the requirement ..... it has been stipulated in clause 4.2.1 as under: (f) eligibility in case of generation of power being the specified end use: a person engaged in captive generation of power as defined in the electricity act, 2003 and the rules thereunder; or generation of power under case 2 as specified in the guidelines for determination of tariff by bidding process for procurement of power by distribution licensees, dated january 19, 2005, .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2009(4)BomCR774; JT2008(9)SC551; 2008(11)SCALE391; (2008)9SCC720; 2008(2)LC1155(SC); 2008(6)Supreme89
..... - for the purpose of this clause the expression 'bank' means,-(i) the state bank of india constituted under the state bank of india act, 1955; (ii) a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959;(iii) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 or under section 3 of the banking companies (acquisition and transfer of undertaking) act, 1980; or(iv) any other bank, being a scheduled bank as defined in clause (e) of section 2 of the reserve bank of india act, 1934. ..... persons other than its members, directors or their relatives: provided that where two or more persons hold one or more shares in a company jointly, they shall, for the purposes of this definition, be treated as a single member;(iv) 'public company' means a company which- (a) is not a private company; (b) has a minimum paid-up capital of five lakh rupees or such higher paid-up capital, as may be prescribed; (c) is a private company which is a subsidiary of a company which is not a private company ..... learned counsel submitted that one need not go by ownership or the form in which an entity is incorporated. ..... one has to take into account the test of incorporation, the nature of the functions which entities carried on and the ownership. .....
Tag this Judgment!Court : Gujarat
Reported in : (1982)1GLR273
..... enacted to provide for the acquisition and transfer of the sick textile undertakings, and the right, title and interest of the owners in respect of the sick textile undertakings, specified in the first schedule to the act with a view to re-organising and rehabilitating such sick textile undertakings so as to subserve the interests of the general public by the augmentation of the production and/ distribution, at fair prices, of different varieties of cloth and yarn, and for matters connected therewith or incidental ..... and all property; movable and immovable, including lands, buildings, workshops, stores, instruments, machinery and equipment, cash balances, cash on hand, reserve funds, investments and book debts and all other rights and interests in, or arising out of, such property as were immediately before the appointed day in the ownership, possession, power or control of the owner of the sick textile undertaking, whether within or outside india, and all books of account, registers and ..... since the national textile corporation has chosen to file a suit without resorting to arbitration, the appellant is entitled to invoke clause 19 of the contract and ask for stay of proceedings under section 34 of the arbitration act as the appellant was, at the time when the summons was taken out and still is ready and willing to do all things necessary to the proper conduct of the arbitration. .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1943All345
..... and upon payment of compensation, and they then go on to say:general legislation on the other hand, the effect of which would be to transfer to public ownership some particular class of property or to extinguish or modify the rights of individuals in it ought, we think, to require the previous sanction of the governor-general or governor (as the case may be) to its introduction; and in that event he should be directed by ..... it was contended that the impugned sections of act 17 of 1939 and the provisions of act 18 of 1939 were not ultra vires, that section 299, government of india act, had no application, that in any case nothing that was done offended against the provisions of that section, that it was unnecessary for the governor to reserve his assent and that, even if it was necessary for him to do so, the matter of his assent cannot be called in question in a court of law-- ..... next question is whether the general legislative powers given to the provincial legislature by the schedule are restricted under the provisions of the government of india act, 1935. ..... list 2 of schedule 7 of the act sets out the subjects in respect to which the provincial legislature is competent to ..... under entries 2, 21 and 39 of list 2 of schedule 7 attached to the government of india act, 1935 ?5. ..... first question is whether the legislative provisions with which we are, concerned deal with matters which are among those enumerated in the provincial legislative list in schedule 7, government of india act, 1935. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1989SC2138; (1989)2CompLJ95(SC); JT1989(2)SC338; 1989(1)SCALE1353; 1990Supp(1)SCC440; [1989]3SCR43
..... holders. before formulating the guidelines for protection of the interest of debenture holders considerable deliberations took place between the concerned departments in the ministry and between the public financial institutions, j investment institutions, department of banking and cci and reserve bank of india as a large quantum of debentures were coming to the period of maturity in 1989 onwards and redemption and a need was felt to protect the interest of debenture holders ..... borne in mind that he is a part of a state instrumentalities committed to the endeavours of the constitutional aspiration to secure justice, inter alia, social and economic, and also under article 39(b) to (c)of the constitution to ensure that the ownership and control of the material resources of the community are so distributed as to best subserve the common good and that the operation of the economic system does not result in concentration of wealth and means of production to ..... of his representatives at the meetings of the department of industry and the department of company affairs about the stage or outcome of the proposals made under the idr and monopolies & restrictive trade practices acts, it is clear that his grant of consent in anticipation of the necessary transfers to the rpl was based on a practical appraisal of the situation and fully in ..... submisson. in the application form prescribed in schedule a of the capital issues (applications for consent) rules, 1956- other than the bonus shares, the indications .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(111)BomLR2507
..... company which directly or indirectly controls or is controlled by a company which is a party to this contract.for the purpose of this definition it is understood that 'control' means:i) ownership by one company of more than fifty percent (50%) of the voting securities of the other company; orii) the power to direct, administer and dictate policies of the other ..... gas supply would be a shell company if it is left without assured supply of gas which the scheme did not contemplate and merely transferring the assets and liabilities as specified in the schedule annexed to the scheme of demerger will not be sufficient and, therefore, there has been insistence on an agreement to record ..... development plan shall mean the result (in years) of the following:tenure = [(cpr2.63) x 106] + [(apvn) x 35.3147x365] cpr: certified proved reserves attributable to the initial block kg d6 development plan in tcf2.63: stipulation of the volume of gas in tcf required to meet the supply ..... income tax act reads as under:(41a) 'resulting company' means one or more companies (including a wholly owned subsidiary thereof) to which the undertaking of the demerged company is transferred in a demerger and, the resulting company in consideration of such transfer of undertaking, issues shares to the shareholders of the demerged company and includes any authority or body or local authority or public ..... not a single specific averment of fact to contend that any bank has declined to finance the dadri project or that it .....
Tag this Judgment!Court : Chennai
Reported in : [2005]127CompCas351(Mad); 2005(1)CTC202; (2005)1MLJ238; [2005]61SCL106(Mad)
..... section 35-a of the banking regulation act, 1949 reads as under:'section 35-a - power of the reserve bank to give directions (1) where the reserve bank is satisfied that-(a) in the public interest; or(aa) in the interest of banking policy; or(b) to prevent the affairs of any banking company being conducted in a manner detrimental to the interests of the depositor or in a manner prejudicial to the interests of the banking company; or(c) to secure the proper management of any banking company generally;it is necessary to issue directions to banking companies generally or to any banking company in particular, it may, from time to tome, issue such directions ..... thus, the rights and beneficial interest connected with ownership remained with the sellers, transfer in whose favour was not acknowledged by us, and in substance there was no sale of shares.3. ..... 3379 of 2003, wherein the division bench of the madras high court has laid down guidelines for conduct of the annual general meeting as well as the election schedule for electing the directors. .....
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