Court : Andhra Pradesh
Reported in : 2008(2)ALT611
..... the decision of the reserve bank, whether the change in management of a securitisation company or a reconstruction company is a substantial change in its management or not, shall be final.explanation: for the purposes of this section, the expression 'substantial change in management' means the change in the management by way of transfer of shares or amalgamation or transfer of the business of the company.section 3(3)(g) & (h) of the act would assume some importance and it is pertinent to note that section 3(3)(h) of the act has been introduced by the enforcement of security interest and recovery of the debts laws (amendment) act 2004 ..... that the following illustrate and demonstrate the deep and pervasive control exercise by the central government in relation to the functions and duties of securitisation companies and reconstruction companies under the act:i) arcil is prohibited from carrying on business of securitisation or asset reconstruction except in accordance with the provisions of the act after due registration under section 3 of the act;ii) the registration of arcil under section 3 of the act is liable to be cancelled for any of the reasons provided therein;iii) ..... chapter iv of the securitisation act makes provision for the establishment, functioning and operations of a central registry for the purpose of registration of transaction of securitisation and reconstruction of financial assets and creation of security interest under this act ..... : [1996]3scr721 the apex court held at .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2005(6)ALT1
..... act, 1964, the andhra pradesh mandala praja parishads, zilla praja parishads and zilla pranalika and abhivrudhi sameeksha mandals act, 1986 and the andhra pradesh local bodies electoral reforms act, 1989 were repealed to bring the law in consonance with the provisions of the constitution as introduced by the 73rd constitution amendment act ..... the following members, namely,-(i) persons elected under section 151;(ii) the member of the legislative assembly of the state representing a constituency which comprises either wholly or partly the mandal concerned;(iii) the member of the house of the people representing a constituency which comprises either wholly or partly the mandal concerned;(iv) any member of the council of states who is a registered voter in the ..... the learned single judge on behalf of the petitioner that the respondents were elected as members of the various mandal parishad territorial constituencies of shameerpet mandal as candidates sponsored by the trs party and on their own admission (as evidenced by the replies given by them to the notice of the election officer dated 23-9-2004), they resigned their membership of the said political party and joined other political parties and therefore they acquired a disqualification for continuing as members of the ..... the number of votes secured by each candidate and shall declare the candidate who secures the ..... the local self-government is an ideal enshrined under article 40 of the constitution of india occurring in the chapter of the .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2006(6)ALT523; 2007(1)CTC97; AIR2007AP57; 2007(2)AIRKarR382(FB)
..... (1-a) the documents containing contracts to transfer for consideration, any immovable property for the purpose of section 53a of the transfer of property act, 1882 (4 of 1882) shall be registered if they have been executed on or after the commencement of the registration and other related laws (amendment) act, 2001 and if such documents are not registered on or after such commencement, then, they shall have no effect for the purposes of the said section 53a. ..... where the property is land, the easements annexed thereto, the rents and profits thereof accruing after the transfer, and all things attached to the earth;and, where the property is machinery attached to the earth, the movable parts thereof;and, where the property is a house, the easements annexed thereto, the rent thereof accruing after the transfer, and the locks, keys, bars, doors, windows, and all other things provided for permanent use therewith;and, where the property is a debt or other actionable claim, the ..... chapter iii of the tp act contains sections 54 - 57. ..... g1/4838/04, dated 17.12.2004, issued by the commissioner and inspector general of registration and stamps (the ig, for brevity) directing the registering officers to add a footnote to the effect that the cancellation deed is registered under the provisions of the registration act and that such unilateral cancellation is not valid unless the deed, which is cancelled, is annulled by the competent court. ..... . the state of madhya pradesh air 1996 m.p. 20 .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2004(5)ALT61
..... cooperative societies second amendment act 2001 (act 22 of 2001) to the amounts already drawn prior to the amendment and not to take any coercive steps such as recoveries or refixation of salaries ..... 116c of the act, as amended by act 22 of 2001 and the amendment of rule 28 of the rules by g.o.ms. ..... the entitlement of the pacs to recover the excess amounts drawn by the employees of pacs pursuant either to the government memo dated 14.10.91 or the interim orders of this court in the series of litigation instituted by the union of the employees, was however categorically and unequivocally, upheld by the division bench of this court in the judgment reported in : 2004(2)ald273 ..... the regulatory and supervisory mechanisms under the provisions of the act including the audit, inquiry, inspection and surcharge components thereof (chapter vii of the act) have almost become dysfunctional ..... on the abolition of the common cadre and substitution by a regime of allotment of paid secretaries to various pacs, the registrar on 30.9.1985 communicated special model bye laws dealing with the service conditions of employees of pacs including the aspect such as recruitment, pay scales, disciplinary control and the like. ..... /92 and batch, the registrar by a circular memo issued instructions to all officers of the department to ensure that paid secretaries do not draw pay on par with the pay scales of cadre-v (supervisors) of the dccbs as revised in 1996. ..... , category iii sets out employees inter alia, of .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2005(4)ALD582; 2005(4)ALT327; [2005]126CompCas708(AP); [2005]63SCL339(AP)
..... which was in the course of being transacted on the commencement of clause (iii) of section 42 of the banking laws (amendment) act, 1983, so, however, that the said business shall be completed before the expiry of one year from such commencement, or(b) to any business as is specified in pursuance of clause (o) of sub-section (1) of section 6;'(fii) in section 9, for the second proviso, the following provisos shall be substituted, namely:-'provided further that in the case of a primary credit society which becomes a primary co-operative bank after the commencement of clause (iii) of section 42 of the banking laws (amendment) act, 1983, the period of ..... arrangement or of amalgamation or reconstruction, of the bank may be made under the provisions of this act only with the previous sanction in writing of the reserve bank;(ii) an order of the winding up of the bank shall be made under the provisions of this act, if so required by the reserve bank in the circumstances referred to in section 13-d of the said act;(iii) if so required by the reserve bank in the public interest or for preventing the affairs of the bank being conducted in a manner detrimental to the interests of the depositors or for securing the proper management of the bank, an order shall be made under the provisions of this act for the supersession of the committee of management or .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2004(5)ALD807; 2004(5)ALT755
..... , : 2001(4)alt270 , held that the amendment act 29 of 1997 had no application to the suits pending in the competent courts, the law as on the date of filing of the suit governs until the disposal of the suit.21. ..... (b) to the high court in other cases; and (iii) of the junior civil judge of the city civil court to the court of the chief judge (2) the chief judge may, subject to the orders of the high court transfer for disposal any appeal filed in the city civil court to any additional chief judge or any senior civil judge. ..... but, given rights and liabilities fixed by reference to the past facts, matters or events, the law appointing or regulating the manner in which they are to be enforced or their enjoyment is to be secured by judicial remedy is not within the application of such a presumption'.18. ..... the reference to a full bench has arisen because of an objection taken to the hearing of this appeal by a single judge pursuant to the amendment of rule 1(b), chapter i, part i of the high court rules. ..... in ramesh singh v, cinta devi, : [1996]2scr1036 , the short question that arose for consideration was: does a right of appeal accrue to a claimant under the motor vehicles act, 1939 notwithstanding its repeal by the motor vehicles act, 1988. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (2009)23VST573(AP)
..... the legislature of the state may by law establish a contingency fund in the nature of imprest to be entitled 'the contingency fund of the state' into which shall be paid from time to time such sums as may be determined by such law and the said fund shall be placed at the disposal of the governor of the state to enable advances to be made by him out of such fund for the purposes of meeting unforeseen expenditure pending authorization of such expenditure by the legislature of the state by law ..... chapter iii relating to state legislation) of the constitution set out the ..... the apgst act 1957 (read with section 9(2) of the cst act 1956) till the adjudication of the trc by the hon'ble high court of andhra pradesh.sd/-commercial tax officer,nidadavoluthe deposits by the petitioner while preferring the several appeals before the stat, visakhapatnam bench (at 25% of the disputed tax) are :------------------------------------------------------assessment year apgst cst------------------------------------------------------2001-02 79,042 3,96,927------------------------------------------------------2002-03 64,106 5,42,882------------------------------------------------------2003-04 69,723 6,47,005------------------------------------------------------2004-05 ..... the dealer is not a permanent resident of the state of orissa, that there is every possibility of the dealer shifting the place of business outside the state, his credibility in the market was not known, the security deposit available with the .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2008(1)ALT113
..... it is pertinent to mention hereof that as per bifr order, the provisions' contained in the scheme shall have effect notwithstanding anything inconsistent therewith contained in any other law (except the provisions of the fera act 1973 and the urban land (ceiling and regulation) act, 1972 for the time being in force or in the memorandum and articles of association of the ssol (respondent-3) or any other instrument having effect by virtue of any law other than the sica act, 1985.the respective stands taken by the parties had been specified above.62. ..... the learned counsel also while further elaborating his submission had drawn the attention of this court to the relevant bifr reservations, 1987 (hereinafter referred in short as 'the resolution' for the purpose of convenience) in particular chapter vi the procedure for preparation and sanction of the scheme under section 18 of the act, the regulations 27 to 33 in particular. ..... in the said hearing 18-10-2004, as mentioned earlier the bifr sanctioned the modified scheme subject to the amendments discussed and decided in the said hearing. ..... the act referred to supra is an act to make in the public interest special provisions with a view to secure the bar if sick and potential sick company owning industrial undertaking speed determination by board of experts of the preventive memorative remedial and other measures which need to be taken in respect of less companies an enforcement and connected with incidental thereto.67. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2006(5)ALD566
..... referred to provisions of the constitution, chapter iii of the allahabad high court rules, 1952 and the provisions of government of india acts, 1919 and 1935 and observed as under:for answering this question it is necessary in the first place to bear in mind that the power of control over the subordinate courts which is vested in the high courts comprises such numerous matters, often involving consideration of details of the minutest nature, that if the whole high court is required to consider every one of those matters, the exercise of control instead ..... 99, law (la & j.sc.f) department, dated 25-7-2005 as amended on 30-7-2005, whereby the government of andhra pradesh retired the petitioner, who was a member of the andhra pradesh state higher judicial service, on attaining the age of 58 years by invoking proviso to section 3(1-a) of the andhra pradesh public employment (regulation of age of superannuation) act, 1984 (for short, the act')-2 ..... extracts from the personal file of the petitioner for the years 1996-2004, which were considered by the administrative committee read as under:extracts from the personal file;1996 ii addl ..... 000/- to grant bail in a sensational murder case and secured a lorry without payment for his shift to hyderabad and purchased silk sarees without payment at gadwal and secured several loans which he did not repay. ..... the entry must reflect the result of an objective assessment coupled with an effort at guiding the judicial officers to secure an improvement in his .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [2008]143CompCas161(AP)
..... after commencement of companies (amendment) act, 1996, a company limited by shares shall not issue any preference shares redeemable after a period of twenty years from the date of issue. ..... the utilization of the securities premium account shall be with the prior approval of the majority of the secured creditors.upon the effective date and in consideration of aforesaid de-rating of existing equity capital, the existing equity shares, shall without further act, application or deed, be deemed to have been cancelled and in lieu thereof for every 100 existing equity shares held by the members of the company, the company shall allot 50 (fifty) - 0.1% non-cumulative redeemable ..... suffice it to say that the proposed scheme of compromise/arrangement, having been approved by the shareholders, this court has to approve proposed scheme of arrangement, as approved by the shareholders of the company, unless it contravenes any law or provisions of law or intended to defeat interest of stakeholders by ..... this provision, learned counsel for central government submits that chapter-b of the scheme of arrangement is contrary to section 80(5a) of the act. ..... in 10 annual instalments commencing from financial year 2028-29 but if the tl-i is repaid as stipulated supra, the contingent debt shall stand waived on proportionate basis to the repayment of tl-i subject to individual lenders having right to adjust the amount being waived as per their convenience within over all period.iii. ..... re (2004) 118 comp .....
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