Court : Delhi
Reported in : AIR1983Delhi546; [1985]57CompCas546(Delhi); ILR1983Delhi919
..... in spite of admitted acknowledgment when the bank was ordered to be wound up, and that if it was a secured debt, it was within time, having regard to the acknowledgment and the provisions of the banking regulation act.was there a valid and subsisting pledge in favor of the bank and, if so, to what property of the company did it relate, are the two questions that must be answered first. 8. ..... 45d of the banking regulation act, 1949, by a bank, in liquidation, against a joint stock company, also in liquidation, and another joint stock company which claims to be its creditor, are based on disputes between the bank, on the one hand, ..... from the tenor of the document, it appears, as is also constituent with the normal practice, that the balance in the account was intended to be secured by all the movable assets of the company and the agreement is sufficiently descriptive of these assets, even in the absence of ..... the banking regulation act, 1949, claiming a ..... is whether the acknowledgment by the company of its liability, by payment in october, 1949, enured not only for a claim of payment but also for the enforcement of security ..... bound itself not to pledge or otherwise charge or encumber any of the assets nor to permit any act whereby the security may, in any way, be prejudicially affected. ..... 322 of 1972 under s 45d(76) of the act, claiming a right to the assets of the company in the hands of the creditor, challenging the validity of the compromise sought to be effected and seeking a stay of .....
Tag this Judgment!Court : Delhi
Reported in : AIR1998Delhi95; [1997]89CompCas438(Delhi)
..... every other company before commencing banking business in india, shall apply in writing to the reserve bank for a license under this section : provided that in the case of a banking company in existence on the commencement of this act, nothing in sub-section (1) shall be deemed to prohibit the company from carrying on banking business until it is granted a license in pursuance of this section or is by notice in writing informed by the reserve bank ..... been embodied in the banking laws of india, namely, the reserve bank of india act, 1934, and the banking regulation act, 1949; (b) the significance of the reserve bank's position as the central bank of the ..... , it is reiterated that the respondents have carefully analysed the entire issues and found it just and practical to issue the orders of moratorium and ultimately to frame the scheme for amalgamation of the two banks ..... a measure would be defeating the whole purpose of moratorium and this plea has been clearly discarded and overruled in matters of urgent nature and the feasibility and practicability of granting a hearing and recording of reasons have been explained in the judgment in joseph kuruvilla vellukunnel v. ..... borrowers and they are practically zero from few banking ..... the feasibility and practicability of granting hearing, recording of reasons and communicating the same to the parties has been explained in the following paragraphs from : air1962sc660 : 'that ..... as a matter of practice, he used to require the board of directors of .....
Tag this Judgment!Court : Delhi
Reported in : 2001IIIAD(Delhi)313; AIR2001Delhi268; 2001(58)DRJ51
..... this is a reference under section 21(5) of the chartered accountants act, 1949 (in short, the act) by the institute of chartered accountants of india (in short, the institute) alleging ..... back ground facts are as under: proceedings were initiated on the basis of information received that while holding a certificate of practice respondent was in full time employment with national insurance company ltd without obtaining permission of the institute to be so engaged as required under regulation 166 of the then chartered accountants regulations, 1964 (hereinafter ..... there are two aspects which are to be separately dealt with by the council in terms of section 21(4) of the act, which reads as follows: '(4) where the finding is that a member of the institute has been guilty of a professional misconduct specified in the first schedule, the council shall afford to the member an opportunity of being ..... of professional misconduct within the meaning of section 21 read with section 22 of the chartered accountants act, 1949 and clause (11) of part i and clause (1) of part iii of the first schedule to the above act. ..... of articled clerks and also violated regulation no.29(11) of the old regulations corresponding to regulation 43(8) of the regulations for training articled clerks which he was not eligible to do, since his main occupation was not practice of the profession of chartered accountancy. ..... that he had no professional work but took stand that he was holding a whole time certificate for practice. .....
Tag this Judgment!Court : Delhi
Reported in : ILR1978Delhi225B; 1978LabIC1225
..... the view that the application of doctrine of ejusdem generis was neither relevant nor necessary because even if the doetrine was applied 'the armed force continued by section 3 of the act, with its duties such as those specified in section 7(2) of the act, cannot but be held to be an armed force of the nature of the army which may be called upon for duty outside the territory of india and within any part ..... provision in the rules, the rules applicable to the central civil services would apply, which, it was contended, would attract the application of, what popularly came to be known as the june, 1949 memorandum of the government of india with regard to seniority and which in terms recognised the entire length of service of a public servant as a criterion for the determination of seniority. ..... the central reserve police force act, 1949, for short, the act, empowered the central government to constitute and regulate an armed central reserve police force by virtue of entry i of list i of schedule vii to the government of india act, 1935, which corresponds to entry (2) of list i in schedule vii of the constitution of india, which provides for 'naval, military and air forces; any ..... there has been some judicial controversy in the past as to whether the central reserve police force constituted under the act or its predecessor could be said to be one of 'the other armed forces of the union' and if so, whether it could be treated as part of the defense forces of the union reading the latter .....
Tag this Judgment!Court : Delhi
Reported in : 4(1998)CLT165; 75(1998)DLT694
..... agarwala, the learned counsel for the third respondent submitted that having regard to the provisions of the banking regulations act, 1949, the effect of nomination is that the nominee becomes the absolute owner and it would amount to a testamentary disposition and the third respondent is fully justified in drawing the sum ..... of the categorical pronouncements by the supreme court about the nomination and in the light of the provisions of the banking regulations act, 1949, which have been extracted above, i do not find any merit in the submission made by mr. ..... the relevant provision is section 45za of the banking regulation act, 1949, and the same is as under:'nomination for payment of ..... purports to have been attested by two witnesses, namely, one sahdeo singh, an advocate, practicing at ghazipur, and one rameshwar lal singh deceased, who was an honorary magistrate of ghazipur. ..... life insurance corporation of india, : air1981cal283 , the calcutta high court observed that the nominee under section 39 of the insurance act, 1938 is given a statutory right to receive payment and that is not a right of a person acquiring title to the money but a right flowing from his status as ..... it is only these orders that the appellant now seeks to attack in this appeal, claiming that under the provident funds act the sum in the provident fund had not only to be paid to him, but became his property on the death of moulabus by reason of the nomination, and that the heirs of moulabus were, thereforee, not .....
Tag this Judgment!Court : Delhi
Reported in : ILR1989Delhi626
..... crpf, ajmer during the period from 15-2-1976 to 9-6-1978 committed remissness in the discharge of ins duty in his capacity as a member of the force under section 11(1) of crpf act, 1949 in that he failed to ensure proper care i preservation and maintenance of stores. ..... farista was guilty of neglect of duty in his capacity as a member of the force under section 11(1) of crpf act, 1949 in that having came to know of the fact through 690060741 ct. ..... findings drawn by enquiry officer taking into account extraneous matter could not be maintained and that where a person was charged with a particular instance of misconduct on certain acts alleged to have constituted it he was held guilty of that charge on a finding as to those acts and also other acts wholly unconnected with the charge with which he had never been charged and which he had no opportunity to controversy the findings of the authorities and the order consequential .....
Tag this Judgment!Court : Delhi
Reported in : [2002]111CompCas344(Delhi); 2000(56)DRJ677
..... this is a reference under section 21(5) of the chartered accountants act, 1949 (in short, the act) by the institute of chartered accountants of india (in short, the institute) alleging ..... are as under : proceedings were initiated on the basis of information received that while holding a certificate of practice respondent was in full time employ- ment with national insurance company ltd. ..... guilty of professional misconduct under section 21 read with section 22 of the chartered accountants act, 1949 and clause (i) of part ii of the second schedule of the above act. ..... the report of the disciplinary committee, the council accepted the report and found as follows: '1) the respondent was guilty of professional misconduct within the meaning of section 21 read with section 22 of the chartered accountants act, 1949 and clause (11) of part i and clause (1) of part iii of the first schedule to the above act. ..... old regulations corresponding to regulation 43(8) of the regulations for training articled clerks which he was not eligible to do, since his main occupation was not practice of the profession of chartered accountancy. ..... that he had no professional work but took stand that he was holding a whole time certificate for practice. ..... misconduct implies failure to act honestly and rea- sonably, according to the ordinary and natural standard or according to the standard of ..... aspects which are to be separately dealt with by the council in terms of section 21(4) of the act, which reads as follows: '(4). .....
Tag this Judgment!Court : Delhi
Reported in : AIR2000Delhi457; 2000(56)DRJ674
..... the disciplinary committee, the council accepted the report and found as follows :'1) the respondent was guilty of professional misconduct within the meaning of section 21 read with section 22 of the chartered accountants act, 1949 and clause (11) of part 1 and clause (1) of part iii of the first schedule to the above act.2) he was guilty of professional misconduct under section 21 read with section 22 of the chartered accountants ..... this is a reference under section 21(5) of the chartered accountants act, 1949 (in short, the act) by the institute of chartered accountants of india (in short, ..... under :proceedings were initiated on the basis of information received that while holding a certificate of practice respondent was in full time employment with national insurance company ltd. ..... there are two aspects which are to be separately dealt with by the council in terms of section 21(4) of the act, which reads as follows :'(4) where the finding is that a member of the institute has been guilty of a professional misconduct specified in the first schedule, the council shall afford to the member an ..... regulations corresponding to regulation 43 (8) of the regulations for training articled clerks which he was not eligible to do, since his main occupation was not practice of the profession of chartered accountancy. ..... had no professional work but took stand that he was holding a whole time certificate for practice. ..... for not obtaining permission of council and surrendered certificate of practice. .....
Tag this Judgment!Court : Delhi
Reported in : 1991(21)DRJ238
..... (1) this is a reference made under section 21(5) of the chartered accountants act, 1949 (for short 'the act') by the council of the institute to chartered accountant of india constituted under the said act recommending that the respondent a chartered accountant and a member of the institute, be reprimanded for contravention of the provisions to regulation 32b of the chartered accountants regulations, 1964. ..... never the less, the complaint of the articled clerk was taken as 'information' under section 21(5) of the act, and under regulation 1 1 (8) the council was prima facie of the opinion that respondent was guilty of professional misconduct. ..... it say that a member of the institute, whether in practice or not, shall be deemed to be guilty of professional misconduct, if he contravenes any of the provisions of the act or the regulations made there under. ..... but than we find there has been a great deal of delay by the council in not acting upon the report to the disciplinary committee. ..... (7) under sub-section (6) of section 21 of the act, this court after giving opportunity to the parties can (a) direct that proceedings be filed, or dismiss the complaint, as the case may be; (b) reprimand the member; (c) remove him from membership of the institute either permanently or for ..... in part ii of the second schedule of the act, professional misconduct is mentioned in relation to the members of the institute generally requiring action by a high court. .....
Tag this Judgment!Court : Delhi
Reported in : [1997]89CompCas292(Delhi)
..... in both the writ petitions, the proceedings have been initiated by the reserve bank of india (hereinafter called 'the rbi') under section 45(1) of the banking regulation act, 1949 (hereinafter called 'the act'), before the government of india seeking an amalgamation of the punjab co-operative bank with the oriental bank of commerce (a nationalised bank,) and the bari doab bank, and these ..... in a draft scheme and not merely a step leading to a scheme and whether the grounds for moratorium could be different from the grounds for bringing in a draft scheme (3) whether by an order under section 45(2) certain provisions of the act could be suspended or a separate order is necessary under section 53 (4) whether 'modification' in section 45(6) could include withdrawing the scheme (5) whether the method of 'valuation' adopted by the reserve bank under section 11(5) can be said to ..... for the aforesaid reasons, we hold that at the stage of section 45(2), no prior opportunity is contemplated nor practicable and that a moratorium is only a step leading towards consideration of introduction of a scheme and it is not an end in itself and the grounds for the moratorium are to be within the scope of the grounds relevant for ..... if a pre-decisional hearing at the stage of section 45(1) is not practicable and if the said grounds for a section 45(1) are within the scope of the grounds for introduction of a draft scheme under section 45(4), then the objections to be filed by the appellants to the scheme .....
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