Court : Kolkata
..... brijlal & ors.v.commissioner of income tax, jalandhar) learned additional solicitor general has submitted that, since the settlement commission has deviated from the procedure and has acted as an assessing officer, the impugned order stands vitiated. for the grounds as canvassed, the impugned order should be quashed and the matter may be remanded to ..... the difference between assessment in law which is a regular assessment or assessment under section 143(1) and the assessment by settlement under chapter xixa of the act of 1961. it has held that, an order under section 245(d) is not an order of regular assessment. chapter xixa contemplates the taxability determined with ..... income only by the process of settlement/arbitration. the process of arrival of the liability of the assessee to pay tax under chapter xixa of the act of 1961 being different to that of a regular assessment, the settlement commission should factor the same while considering an application for settlement. it is obliged .....
Tag this Judgment!Court : Kolkata
..... , the petitioners have an expeditious statutory and alternative remedy to get the disputed question of facts resolved by the railway rate tribunal under provision of section 37 of the railway act of 1989.20. it is lastly submitted that the petitioner/appellant in the same circumstances had paid demurrage charges on same ground as has been noted in the judgment impugned ..... . mr. sanajit kumar ghosh, adv. heard on : judgment on : rakesh tiwari, j.:- april 11 & 17, 2017 may 16, 2017.1. petitioner no.1 is a company incorporated under the companies act, 1956 having its office at plot no.ind-5 sector-i, east calcutta township, kolkata- 700 107. petitioner no.2 is sr. manager of petitioner no.1 above named and .....
Tag this Judgment!Court : Kolkata
..... fixed asset of corporate ispat alloys limited as security in respect of the company (in liquidation).the attempt by the appellant has to be regarded as an act of contempt. the appellant and his cohorts as promoters have played fast and loose for long and it appears that the court should not have given the ..... that since company corporate ispat alloys limited was referred to the board for industrial and financial reconstruction under the provisions of the sick industrial companies (special provisions) act, 1985, no final order of winding-up was passed despite more than one creditor s winding-up petition pertaining to such company being admitted by the company court ..... . the said act of 1985 now stands repealed. the appearing creditors also refer to the injunction issued against corporate ispat alloys limited by the same order of december 15, 2015 .....
Tag this Judgment!Court : Kolkata
..... . petitioner is a public sector undertaking of the government of india and 100% of its share-holding is vested with the president of india. the petitioner is registered under companies act, 1956. b) in furtherance of its business, the petitioner entered into a memorandum of understanding dated 14th september, 2004 in short, the said mou with sricon. c) pursuant to and ..... hon ble single judge of this court wherein issue nos.2 and 3 were as follows : 2. is the suit bad for defect of the parties?. 3. was the defendant acting in the capacity of an agent of hsplsipl (jv) in its dealing with the plaintiff?. the said order was modified by another hon ble judge of this court wherein the .....
Tag this Judgment!Court : Kolkata
..... special business which should include the draft resolution to be passed as ordinary or special resolution along with the explanatory statement pursuant to section 102 of the companies act, 2013. in the said annual general meeting, the defendant no.1 and other defendants along with the plaintiff passed resolutions approving annual accounts for the year ..... is maintainable?.2) whether the alleged receipt of the letter dated 16th september, 2014 of the plaintiff is fictitious?.3) whether the plaintiff has committed any act of forgery or fraud?.4) whether the defendants and the proforma defendant company are entitled to get relief as prayed for in their written statement filed on 26 ..... brevity. the question which fell for consideration before this court is as to whether there has been violation of provision of sections 102 and 196 of the companies act, 2013. before taking up the issues for discussion, it would be profitable to reproduce section 196 as under: 196.1) no company shall appoint or .....
Tag this Judgment!Court : Kolkata
..... astoundingly and despite the defendant being a government company, it made a childish misinterpretation of the second limb of the opening part of section 106 of the act and, instead of convening a meeting of the relevant class of shareholders whose rights were proposed to be altered, the company convened a meeting of its entire ..... the said preference issue apparently passed at the 13th annual general meeting of the defendant company held on september 20, 2010. section 106 of the said act permits the rights attached to the shares of a particular class of shareholders to be varied, provided such variation is either with the consent in writing of ..... date thereafter. the defendant company purported to claim that the plaintiffs rights in respect of such preference shares stood modified in accordance with section 106 of the companies act, 1956. the plaintiffs, probably claiming the status of creditors qua the defendant, have made a money claim in an ahmedabad court. the present action is limited .....
Tag this Judgment!Court : Kolkata
..... chairman and managing director of the first respondent (hereafter the cmd) was requested to consider the desirability of adequately compensating the petitioners for the perceived irresponsible act of the second respondent. the cmd, after seeking an adjournment, filed an affidavit. relevant portion thereof is quoted below: 2. preliminary submissions with due ..... and after considering and disposing of such representation/objection. without exhausting the procedure prescribed in sub-sections (2), (3) and (3a) of the act, the secured creditor cannot initiate coercive steps against a defaulting borrower. taking the aid of rule 8 to decide the authority of a secured creditor to ..... partnership firm, the photographs of the partners can be published. . (bold and underlining in original) it would, therefore, appear that the second respondent has acted in breach of the circular letter dated march 22, 2013.32. considering the overall facts and circumstances, it appears to be crystal clear that the second .....
Tag this Judgment!Court : Kolkata
..... subject to any rules made under section 44, in any proceeding under this act before the controller, the evidence shall be given by affidavit in the absence of directions by the controller to the contrary; but in any case in which ..... request you to kindly grant us, the attorneys of proprietor of registered design no.184135, under section 37 read with section opportunity 32 of the designs to examine . act, 2000 an cross- thus we request you that a date for crossexamination may be fixed under prior intimation to us. shall ever remain. yours faithfully, anuradha salhotra ..... the affidavits, namely, balchandra s. virkar, neelam pandit and professor vijay parshuram bapat. section 32 of the 2000 act empowers the controller with the powers of the civil court while section 37 of the 2000 act is covered by chapter viii which deals, inter alia with evidence and reads as follow:- evidence before the controller .....
Tag this Judgment!Court : Kolkata
..... declared it as such on or about december 19,2013. the bank claims to have issued a notice under section 13(2) of the act of 2002 to the plaintiff on march 4, 2014. however, it is also evident from the bank s petition that such notice may ..... suit is to negate or nullify any claim lodged by the bank before the drt or any steps taken by the bank under the act of 2002 in respect of the securities that may have been furnished by the plaintiff to the bank. there are at least two ..... agreed to between the parties herein and such restructuring would preclude the claim being pursued, whether by way of steps being taken under the act of 2002 or by filing a money claim before the drt. it is now that the reliefs claimed in the suit must be seen: ..... either debit the plaintiff s account or credit the sum of rs.9.66 crore therefrom to company mahalakshmi or any other; that the bank acted in an unauthorised manner in debiting the plaintiff s account; and, as such, the claim in such regard is without basis. as to .....
Tag this Judgment!Court : Kolkata
..... recovery appellate tribunal in kolkata in an appeal arising out of an interlocutory application in proceedings under section 19 of the recovery of debts due to banks and financial institutions act, 1993. the primary issue before the appellate tribunal was as to whether the private respondent herein should be restrained, in terms of a clause in the contract with the bank .....
Tag this Judgment!