Judgment Search Results Home > Cases Phrase: securities laws amendment act 2004 chapter iii amendments to the depositories act 1996 Court: delhi Page 1 of about 199 results (0.293 seconds)

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 .....

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. .....

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. .....

Sahara India Financial Corporation Ltd. Lucknow vs.cit and Ors.

Court : Delhi

..... the objective of this amendment has been explained in the memorandum explaining the finance bill, 2013 as: the existing provisions contained in sub-section (2a) of section 142 of the income-tax act, inter alia, provide that if at any stage of the proceeding, the assessing officer having regard to the nature and complexity of the accounts of the assessee and the interests of the revenue, is of the opinion that it is necessary so to do, he may, with the approval of the chief commissioner or commissioner, direct the assessee to get his accounts audited by an accountant and to furnish a report of ..... held: in suitable, cases, giving retrospective effect to such validating law was permissible by legislative exercise of the power; this court accepted the retrospective validation in fiscal statutes and rarely in other laws relating to procedural facets in the respective legislative entries in lists i, ii and iii of the seventh schedule to the constitution and rarely in areas of divesting vested rights had under the judgment. w.p. ..... the absence of availability of depositor ledger, it was not the possible company s to provisions under chapter xvii-b of it act ..... followed in respect of broken period interest on securities.2. ..... state of kerala, (1996) 7 scc537in the following terms: field fundamentally altering or changing in exercising legislative power, the legislature by mere declaration, without anything more, cannot directly overrule, revise or override ..... cit (2004) 267 itr0345was cited in this .....

Moser Baer India Ltd. Vs. the Additional Commissioner of Income Tax an ...

Court : Delhi

Reported in : (2009)221CTR(Del)97; [2009]316ITR1(Delhi); [2009]176TAXMAN473(Delhi)

..... the amendment, the assessing officer while computing the total income of the assessee, having regard to the alp so determined by the tpo, was required to give a final opportunity to the assessee before computing the assessee's total income.this is clear from the language used in sub-section (4) of section 92ca prior to its amendment by virtue of finance act, 2007, as the determination by the tpo was not binding on the assessing officer.the assessing officer was thus empowered even at the stage of computation of total income to look into issues pertaining to determination of alp by the ..... the procedure adopted was unfair and in complete violation of the principles of natural justice and hence, the impugned decision of tpo was a nullity in the eye of law.4.6 it was thus submitted that it is to obviate such a situation, that an oral hearing is a must both under the scheme of chapter x, as well as, on account of the ..... matter of public policy to prevent not only a perverse decision but also to secure, against a decision which is vitiated by 'well-meaning ignorance or carelessness' ..... the supreme court, after considering the case law, came to the conclusion that the said sub-clause (iii) of clause (b) of regulation 68, was not mandatory and that, even if it was mandatory since it was conceived in the interest of the employee and not in public interest, it could have been waived, even if the regulation used the ..... 1996)iillj296sc 5.5 the learned asg concluded by submitting that in view of the ..... 2004 .....

Brown Forman Mauritius Limited Vs. Jagatjit Brown-forman India Ltd. an ...

Court : Delhi

Reported in : [2005]126CompCas392(Delhi); (2004)1CompLJ368(Del); 109(2004)DLT198; 2004(72)DRJ655; [2004]51SCL214(Delhi)

..... the relevance of the observations pertaining to the arbitration and conciliation act, 1996, to my mind, is that if the existence of an arbitration clause is neither a deterrent nor an obstacle for the passing of winding up orders, then the procedural and attending requirements of the termination clause in the agreements between the parties would also prevent the company judge from bringing about the end of the juristic life of a company which is otherwise existing and breathing on artificial l legal support systems.21. ..... (iii) where the defense of the company is in good faith and one of substance, and the defense is likely to succeed in point of law, and the company adduces prima facie proof of the facts on which the defense depends, the petition should be rejected. ..... and the joint venture, and the distribution and administrative services agreement between jil and the joint venture, all dated april 24, 1995, are co-terminus with the agreement, these (and all amendments thereto) shall also be terminated upon the termination of the agreement.''10. ..... in that case, the principal object of the company was ship-owning but the last of the company's ships had been disposed of in 1919 and thereafter the company's capital was invested in securities. .....

Splendor Landbase Ltd. Vs Delhi Pollution Control Committee.

Court : Delhi

..... iii) and 3(vi) of the sor, it was explained that the bill inter alia sought to make the following amendments to the act, namely:"(iii) it is proposed to make it obligatory on the part of a person to obtain the consent of the relevant board for establishing or taking any steps to establish any industry, operation or process which is likely to cause pollution of water and also to empower the boards to limit their consents for suitable periods so as to enable them to monitor observance of the prescribed conditions;(vi) it is proposed to empower the ..... the conclusion that orders issued by the cmc or even the dpcc in the instant case levying penalty and requiring furnishing of bank guarantees and making the grant of consent to establish under the water act and consent to operate under the air act conditional upon payment of such penalties and furnishing of such bank guarantees are entirely without the authority of law ..... chapter vi of the air act and chapter vii of the water act talks of penalties which result from a conviction for violation of the ..... it is pointed out that it is only by the amendment with effect from 7 th july 2004 that construction activity came to be added to the eia notification and again it was clarified that such amendment would not apply to "any construction project falling under entry 31 of schedule-1 including new townships, industrial townships, settlement ..... the basic approach adopted by the cmc where such penalty or fine has been levied or bank guarantee secured .....

Glencore GraIn Rotterdam B.V. Vs. Shivnath Rai HarnaraIn (India) Co.

Court : Delhi

Reported in : 2008(4)ARBLR497(Delhi); 155(2008)DLT457

..... by the lrba as well as the correspondence between the parties to contend that in view of the provisions of section 47 of the arbitration and conciliation act, 1996 in the case of an international commercial arbitration held out of india, the party applying for the enforcement of a foreign award is required to discharge the following obligations only:(a) to produce in court the original award or a copy thereof, duly authenticated in the manner required by the law of the country in which it is made;(b) to produce the original agreement for arbitration or duly certified copy thereof; and(c) such evidence as may be necessary to prove that the ..... (3) if an application for the setting aside or suspension of the award has been made to a competent authority referred to in clause (e) of sub-section (1) the court may, if it considers it proper, adjourn the decision on the enforcement of the award and may also, on the application of the party claiming enforcement of the award, order the other party to give suitable security.36. ..... tiku vehemently contended that the plaintiff having filed an application under section 66 of the english arbitration act in the united kingdom and having subsequently withdrawn the same by order dated 11th june, 2004 on payment of - 23,332.50 as costs, the question to be considered is:does the withdrawal of the section 66 proceedings not amount to the abandonment of the claim for enforcement of the award by the plaintiff65. mr. .....

Delhi Transport Corporation Vs. Shri Dharam Pal (Ex. Driver)

Court : Delhi

Reported in : 160(2009)DLT555

..... 04.10.1963 and the circular dated 30.6.98, issued by the management by virtue of section 4(e) of delhi road transport laws (amendment) act, 1971 providing for the extension of the service of the drivers beyond 55 years of age on year to year basis subject to their medical fitness up to 60 years is discriminatory in view of the age of ..... iii) whether the workmen/drivers who retired prematurely from services of the management from the post of driver on having incurred physical disability before reaching the age of superannuation at 55 years, but retained in service till that age, on account of the benefits made available to them by section 47 of the disability act by assigning them either a lower post or otherwise with the pay and allowances as admissible to a driver are also entitled to superannuate at the age of 60 years as a matter of right despite being un fit to act as a driver after the ..... the said act provides for social security for the disabled persons and if for the said purpose a statutory liability has been thrust upon the employer, the ..... section 47 of the disability act and was given the arrears of the salary and was also assigned lighter duty of vehicle examiner where he worked till 21.07.2004 which was the date of his superannuation as a driver i.e the age of 55 ..... the said act occurs in chapter ..... the appellant dalel singh also appointed as a driver was injured in an accident when the bus driven by him collided with another bus during the course of his employment on 07.06.1996 .....

Andaleeb Sehgal Vs Union of India and anr.

Court : Delhi

..... lordships posed the question whether the tenant who had applied for relief under section 28 when that section was in force would be entitled to have the application disposed of in accordance with the provision of that section though it remained undisposed of on the date the amendment act came into ..... it is true that the word "deemed" has been used in s.5(3) but the same word has been used not merely in s.5(1) but also in the other two sections 3 and 4 of chapter ii of the central sales tax act which has the heading "formulations of principles for determining when a sale or purchase of goods takes place in the course of inter-state trade or commerce or outside a state or in the course of export or import", the heading of chapter ii on the face of it suggests that what is done ..... iii) is the right to demand copies of the documents and affidavits, the right to be represented by a legal practitioner and the right to cross-examine the witnesses examined by the commission available to a noticee independent of section 8b and 8c of the act aforementioned before an inquiry authority / commission established otherwise than under the provisions of the said act ..... it is a wholesome rule designed to secure the rule of law and the court should not be too ready to eschew it in its application to a ..... , (2004) 2 scc 447, while dealing with the principle of applicability of natural justice in awarding compensation under section 357(4) of the code of criminal procedure, 1973, their lordships have observed .....