Judgment Search Results Home > Cases Phrase: securities laws amendment act 2004 chapter iii amendments to the depositories act 1996 Page 1 of about 1,913 results (0.657 seconds)

Nepc Micon Limited, Vs. Sashi Prakash Khemka and ors.

Court : Chennai

Reported in : [2007]137CompCas917(Mad); [2007]78SCL442(Mad)

..... the depositories act, 1996, brought about comprehensive changes in the matter relating to transfer of securities by introducing amendments to various related statutes like companies act, indian stamp act, it act, securities contract (regulatory) act. ..... the haryana municipal (second amendment) act, 1994 (act 3 of 1994) inserted section 13-a in chapter iii of the principal act which provides for disqualification from being chosen as member of a municipality if he had more than two living children, provided that a person having more than two children on or after the expiry of one year of the commencement of this act, shall not be deemed to be disqualified. ..... aggrieved of this, the respondents before the company law board/the appellants have preferred the above appeals raising following question of law under section 10f of the companies act.as to whether the company law board was right in coming to the conclusion that the limitation prescribed under section 111a(3) of the companies act is absolute and hence would not cover the cases where cause of action had arisen prior to the introduction of section 111a(3) of the companies act. 12. mr. .....

M/S Daiichi Sankyo Company Ltd Vs. Jayaram Chigurupati and ors.

Court : Supreme Court of India

..... (2) in the case of an acquirer acquiring securities, including global depository receipts or american depository receipts which, when taken together with the voting rights, if any already held by him or persons acting in concert with him, would entitle him to voting rights, exceeding the percentage specified in regulation 10 or regulation 11, the public announcement referred to in sub-regulation (1) shall be made not later than four working days before he acquires voting rights on such securities upon conversion, or exercise of option, as the case may be. ..... chapter iii begins with regulation 10 that makes it obligatory for an "acquirer" acquiring, in aggregate, fifteen percent or more of the voting rights in a company whether by acquisition of shares or voting rights to make a public announcement to acquire shares of that company in accordance with the provisions of the takeover regulations. ..... we were, thus, in a position to refer to the relevant portions of the two reports that provided us with the raison d'jtre for the amendment(s) or the introduction of a new provision and thus helped us in understanding the correct import of certain provisions. ..... the offer price in the public announcement, was rupees seven hundred and thirty seven only (rs.737.00) for each share, which was the price daiichi had paid to thecompany's promoters for acquisition of the shares under the agreement and which worked out to be the highest of the prices reckoned by the different ways prescribed by the law. .....

National Stock Exchange Members' Association Vs. Union of India (UOi) ...

Court : Delhi

Reported in : [2006]130CompCas468(Delhi)

..... chapter iv of the said act deals with the powers and functions of the sebi and under section 11 which falls in the said chapter it is the duty of the board to take such measures as it thinks fit to protect the interests of the investors and securities and to regulate the securities ..... the board has placed material before us to show that the government of india has already delegated to the board the functions under the scr act, the depositories act as also some of the functions under the companies act ..... to appreciate the controversy between the parties, the regulations themselves have to be scrutinised since the challenge is that the methodology of charging the fee for registration adopted by the sebi is contrary to the regulations read with schedule iii to the regulations which prescribes the manner of calculation of the fee.6. ..... however, clarified that in view of the aforesaid challenge pending, the petitioners will not be deprived of the benefit of the securities and exchange board of india (interest liability regularisation) scheme, 2004 which had been directed by the interim orders dated august 12, 2004, read with the clarification dated october 5, 2004. ..... committee report.the sebi has amended the regulations on february 20, 2002 as per the judgment of the hon'ble supreme court incorporating the recommendations of the r. ..... rule 4(b) refers to the requirement to abide by the rules and regulations and the bye-laws of the stock exchange or stock exchange (s) of which the stock broker is .....

S.E.B.i. Vs. Saikala Associates Ltd.

Court : Supreme Court of India

Reported in : AIR2009SC2540; [2009]150CompCas62(SC); (2009)3GLR2410(SC); JT2009(13)SC652; 2009(6)SCALE541; (2009)7SCC432; [2009]91SCL443(SC); 2009(5)LC2127(SC):2009AIRSCW4436

..... agency or any other intermediary associated with the securities market as the board may by notification in this behalf specify, shall buy or sell or deal in securities except under and in accordance with the conditions of a certificate of registration obtained from the board in accordance with the regulations made under this act:provided that a person buying or selling securities or otherwise dealing with the securities market as a depository, [participant,] custodian of securities, foreign institutional investor or credit rating agency immediately before the commencement of the securities laws (amendment) act, 1995, for which no certificate of registration was ..... liability for contravention of the act, rules or the regulations -a stock broker or a sub-broker who contravenes any of the provisions of the act, rules or regulations framed thereunder shall be liable for any or more of the following actions:(i) monetary penalty under chapter via of the act. ..... (ii) penalties as specified under securities and exchange board of india (procedure for holding enquiry officer and imposing penalty) regulation, 2002 including suspension or cancellation of certificate of registration as a stock broker or a sub-broker(iii) prosecution under section 24 of the act.7. ..... (iii) as regards m/s. .....

Jaideep Halwasiya Vs. Rasoi Ltd. and ors. (No. 1)

Court : Kolkata

Reported in : [2009]150CompCas1(Cal)

..... to the provisions of the listing agreements entered into by the company with the stock exchanges where the shares of the company are listed, the securities and exchange board of india act, 1992 (sebi act) including guidelines issued by the securities and exchange board of india (sebi), in particular guidelines for preferential issues as contained in chapter xiii of the securities and exchange board of india (disclosure and investor protection) guidelines, 2000 (the dip guidelines) as issued from time to time and all other applicable rules, regulations, guidelines, statute or laws for the ..... the company relies on the history leading up to the incorporation of the proviso to clause 13.4.1 by an amendment of april 8, 2004. ..... (iv) necessary application be made with the national securities depository ltd. ..... (iii) necessary measures be taken to seek the listing of such new equity shares on all the stock exchanges where the company's shares shall continue to be listed. .....

Azzilfi Finlease and Investments Vs. Ambalal Sarabhai Enterprises

Court : Company Law Board CLB

Reported in : (2000)100CompCas355

..... shri seervai in his reply submitted that the law has changed after the aforesaid cases have been decided with the insertion of section 22a of the securities contracts (regulation) act, 1956, and thereafter with the promulgation of the depositories act whereby the companies act has also been amended, thereby the shares of a public company have become freely transferable. ..... the respondent-company, vide its letter dated october 14, 1997, conveyed the company's decision to refuse to register the transfers of the said shares alleging that the petitioners have violated the provisions of chapters ii and iii of the sebi (substantial acquisition of shares and takeover) regulations, 1997, by acquiring more than the stipulated percentage of shares in concert with others. ..... it is further submitted that as per the provisions of section 111a, the petitioners are entitled to have shares registered in their name since the respondent-company being a listed company is bound by the listing agreement and further after taking into account the share transfer provisions of the companies act as amended through the depositories act, 1996, which is effective from september 20, 1995, the listed company has no right to refuse the transfer of shares as the shares are freely transferable.5. .....

In Re: Jvg Leasing (Securities and Finance) Ltd. and ors.

Court : Delhi

Reported in : [2008]144CompCas780(Delhi); (2006)2CompLJ242(Del); [2007]79SCL541(Delhi)

..... despite the provisions before the promulgation of the reserve bank of india (amendment) ordinance, 1997 contained in chapter iii-c of the reserve bank of india act, the unincorporated bodies circumvented the statutory restrictions by floating different partnership firms as and when a firm reached the level of 250 depositors. ..... on merits, it was his submission that the winding up petitions are filed by the rbi under section 45mc of the act, as according to the rbi, the application for license was rejected by the rbi and, thereforee, the companies could not, in law, do a non-banking finance business and accept deposits from the public etc. ..... : saroj g.poddar, (1996) 22 c.l.a.200, the court refused to sanction the proposed scheme after it was found that .the entire exercise undertaken by the sponsor with the support of the workers union was intended to acquire the land of the company for its exploitation. ..... it is stated in the petition that the scheme is necessary for the company to re-start their business and make payment to their secured and unsecured creditors and to revive their prospects. ..... the joint parliamentary committee which enquired into the irregularities in securities and banking transactions had recommended that the government should examine whether the legislative framework for regulating nbfcs is sufficiently wide. .....

Nedumpilli Finance Company Limited Vs. State Of Kerala .

Court : Supreme Court of India

..... the moment the parliament stepped in to codify the law relating to registration and regulation of nbfcs, by inserting certain provisions in chapter iii b of the 47 rbi act, the same would cast a shadow on the applicability (even assuming it is applicable) of the provisions of the kerala act to nbfcs registered under the rbi act and regulated by rbi. ..... 6.6 after the introduction of chapter iii b under act 55 of 1963, three amendments which are not relevant for our purpose, were made to the provisions contained in chapter iii b, under act 51 of 1974, act 21 of 1976 and act 1 of 1984. ..... a debtor as a bond, pledge or security for the loan advanced, for a period of two years from the date stipulated for financial repayment of the loan; 19 (vii) to regulate the powers of the civil court while deciding the suits to which the act applies, so that the court is satisfied that the provisions of the act are complied with; (viii) to curtail the power of the court to award interest in a sum greater than the principal of the loan due on the date of the decree; (ix) to empower the court to allow payment of the decretal amount by instalments; (x) to empower the court even to reopen ..... broad scheme of kerala act 4.6 in a way, the kerala act is a legacy of the madras pawn brokers act, 1943, whose provisions continued to be in force in the malabar district, even after the states reorganisation act, 1956, until it was repealed by kerala money lenders (amendment) act 33 of 1963. .....

Sahara India Real Estate Corporation Limited and Others. Vs. Securitie ...

Court : Supreme Court of India

Reported in : (2013)1SCC1

..... section 20 of scr act, which was omitted, by securities laws (amendment) act, 1995, with effect from 25.1.1995, stated that all options entered into after the commencement of the act would be illegal ..... ofcourse, it would not have been apt to rely on section 2(19a) of the companies act, if the term hybrid had also been defined in the sebi act or had even been defined in the sc(r) act on the depositories act, 1996, because section 2(2) of the sebi act postulates, that words and expressions used but not defined under the sebi act, but defined in the sc(r) act or in the depositories act, 1996 would be attributed the meaning given to them in the said ..... or causing to be made an enquiry, the board is satisfied that it is necessary,-(i) in the interest of investors, or orderly development of securities market; or(ii) to prevent the affairs of any intermediary or other persons referred to in section 12 being conducted in a manner detrimental to the interest of investors or securities market; or(iii) to secure the proper management of any such intermediary or person, it may issue such directions,-(a) to any person or class of persons referred to in section 12, or associated with the securities market; or(b) to any company in respect of matters specified in section 11a,as may be appropriate in the interests of investors in securities and the securities market ..... and functions of sebi are dealt with in chapter iv of the sebi act ..... sections 11aa, 11ab, 11c and 11b came to be added into chapter iv of the sebi .....

Reserve Bank of India Vs. Appellate Authority for Nbfc Registration Ca ...

Court : Delhi

Reported in : IV(2005)BC435; [2006]130CompCas304(Delhi); (2006)2CompLJ235(Del)

..... despite the provisions before the promulgation of the reserve bank of india (amendment) ordinance, 1997 contained in chapter iii-c of the reserve bank of india act, the unincorporated bodies circumvented the statutory restrictions by floating different partnership firms as and when a firm reached the level of 250 depositors. ..... whereas earlier the only recourse available to the depositors was to approach to court of law for redressal of grievances, powers have been vested with the company law board for directing the defaulting nbfcs to make repayment of the depositors/interest with a view to protect the interest of the depositors.5. ..... the joint parliamentary committee which enquired into the irregularities in securities and banking transactions had recommended that the government should examine whether the legislative framework for regulating nbfcs is sufficiently wide. ..... rbi, thereforee, rejected the company's application for certificate of registration.the mumbai high court order dated 12th march, 2004, the company and its day to day management has been handed over to a special committee presided over by a retired justice of the high court. ..... the appellate authority has taken into consideration the orders passed by the mumbai high court on 12.3.2004 avowedly, these were in winding-up proceedings. ..... in the impugned order the appellate authority comprising two members had briefly analysed and narrated the assailed order dated 13.1.2004 passed by ms. .....