Judgment Search Results Home > Cases Phrase: securities laws amendment act 2004 chapter iii amendments to the depositories act 1996 Court: supreme court of india Page 1 of about 352 results (0.304 seconds)

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. .....

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. .....

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 .....

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. .....

The State of West Bengal Vs. Kesoram Industries Ltd. and ors.

Court : Supreme Court of India

Reported in : (2004)187CTR(SC)219; [2004]266ITR721(SC); JT2004(1)SC375; 2004(1)SCALE425; (2004)10SCC201

..... (d) are issued before the date of commencementof the westbengal taxation laws (amendment) act, 1992, shall continue to bepayable in accordance with the provisions of this act as they stood beforethe coming into force of the said act as if the said act had not come intoforce;";(k) in clause (gh), for the words "coal mine", the words "coal-bearingland" shall be substituted;(l) in clause (gl), for the words "coal mine", the words "coal-bearingland" shall be substituted;(m) in clause (gj), for the words "coal mine", the words "coal-bearingland" ..... chapter ii of this act provides for the constitution of the central advisory council and development councils, chapter iii deals with the regulation of scheduled industries, chapter iiia provides for the direct management or control of industrial undertakings by central government in certain cases, and chapter iiib is concerned with the topic of control of ..... supplied]the constitution makers found the need for power sharing devicesbetween the central and the state having regard to the imperatives of thestate's security and stability and, thus, propelled the thrust towardscentralisation by using non obstante clause under article 246 so as to seethat the federal supremacy is achieved.a perusal of the provisions of entries in list ii would show thatthere are 17 entries in list ii (entries 1, 2, 12, 13, 17, 22, 23, 24, 26,27, 32, 33, 37, 50, 54, 57 & 64) which are one way or the other 'subjectto' either provisions of entries in list i and/ or list iii .....

Sandvik Asia Ltd. Vs. Commissioner of Income Tax-i, Pune and ors.

Court : Supreme Court of India

Reported in : AIR2006SC1223; 2006(4)BomCR886; 2006(1)CTC741; (2006)200CTR(SC)505; 2006(196)ELT257(SC); [2006]280ITR643(SC); JT2006(2)SC7; (2006)2MLJ25(SC); 2006(1)SCALE569; (2006)2SCC508

..... the high court, in our opinion, has unnecessarily made the judgment a bulky one by considering various provisions of the act and, in particular, section 240 which was inserted by direct tax laws (amendment) act, 1987 with effect from 01.04.1989 and hence was not applicable to the present case. ..... the high court has miserably failed to appreciate that the proviso was inserted by the direct tax laws (amendment) act, 1987 with effect from 1st april, 1989 and hence was not applicable to the present case. ..... on securities or dividend, within three months from the end of the month in which the total income is determined under this act, and(b) in any other case, within three months from the end of the month in which the claim for refund is made under this chapter,the central government shall pay the assessee simple interest at (twelve) per cent per annum on the amount directed to be refunded from the date immediately following the expiry of the period of three months aforesaid to the date of the order granting the refund.explanation : if the delay ..... 5 of 1996 followed the gujarat high court decisions and answered in the affirmative and in favour of the assessee, a question as to whether the tribunal was right in holding that interest was payable on delayed payments of interest. ..... commissioner of income-tax, : [2004]266itr99(sc) [k.g. ..... commissioner of income-tax, : [2004]266itr99(sc) 4. ..... 1.16.01.2004 impugned common judgment and order passed by the high court.4. .....

Clariant International Ltd. and anr. Vs. Securities and Exchange Board ...

Court : Supreme Court of India

Reported in : AIR2004SC4236; IV(2004)BC449; [2004]122CompCas112(SC); (2004)4CompLJ52(SC); JT2004(7)SC69; (2004)4MLJ122(SC); 2004(7)SCALE180; (2004)8SCC524; [2004]54SCL519(SC); 2005(1)LC1

..... and standing who has shown capacity in dealing with problems relating to securities market and has qualification and experience of corporate law, securities laws, finance, economics or accountancy:provided that a member of the board or any person holding a post at senior management level equivalent to executive director in the board shall not be appointed as presiding officer or member of a securities appellate tribunal during his service or tenure as such with the board or within two years from the date on which he ceases to hold office as such ..... takeover panel created under the corporate law economic reform programme act, 1999, as amended by the corporation act, 2001, is also an expert panel.75. ..... hood phillips in his 'constitutional and administrative law', eight edition, at page 686 under the chapter 'tribunals' has stated as follows :-'these are independent statutory tribunals whose function is judicial. ..... for the reasons aforementioned, civil appeal nos.3183 of 2003, filed by the acquirer and d3952 of 2004 filed by the administrator of the specified undertaking of the unit trust of india, are allowed; whereas civil appeal no.3701 of 2003 filed by sebi and civil appeal no. ..... reasons for creating special tribunals, according to the learned author, are:(i) expert knowledge(ii) cheapness(iii) speed(iv) flexibility(v) informality70. .....

Reserve Bank of India and Others Vs. Peerless General Finance and Inve ...

Court : Supreme Court of India

Reported in : 1996IAD(SC)774; AIR1996SC646; [1996]85CompCas920(SC); JT1996(1)SC8; 1996(1)SCALE13; (1996)1SCC642; [1996]1SCR58

..... after the insertion of chapter iii-b in the act, the bank issued three sets of directions to regulate acceptance of deposits by non-banking companies, categorising them into ..... assailing the constitutional validity of the directions contained in paragraph 4a on the ground that the same are violative of the right guaranteed under article 19(1)(g) of the constitution, shri chatterjee has submitted that the processing charges and maintenance charges that are received by peerless from the depositors/subscribers in connection with the schemes are for the purpose of meeting the expenses that are incurred by peerless for operating the said schemes and to pay commission to the agents who secure the deposits, and that ..... of the non-banking companies accepting deposits were non-financial companies and in order to more effectively regulate the deposit accepting activities of these companies, the companies (amendment) act, 1974 was enacted and sections 58-a and 58-b were inserted in the companies act, 1956 ..... open to it in law to regulate the schemes such as those run by peerless to prevent exploitation of ignorant subscribers, it was observed that 'care must be taken to protect thousands of its employees' shri chatterjee has also invited our attention to regulation 50 of the sebi (mutual funds) regulations 1993, providing for limitation of expenses which enables the asset management company to charge the mutual fund with its agents' commission as part of the recurring expenses and prescribes .....

Eastern Book Company and ors. Vs. D.B. Modak and anr.

Court : Supreme Court of India

Reported in : AIR2008SC809; 2008(2)ALD1(SC); 2008(56)BLJR181; (2008)1CALLT69(SC); (2008)1CompLJ1(SC); 2008(1)JKJ41[SC]; LC2008(1)56; (2008)1MLJ361(SC); 2008(36)PTC1(SC); 2007(14)SCALE1; 2008AIRSCW49; AIR2008SC809; 2008(1)SCC1; 2008(1)LH(SC)179; 2008(2)ICC206; 2008(4)KCCRSN237

..... then came the copyright (amendment) act, 1983 which made a number of amendments to the act of 1957 and the copyright (amendment) act, 1984 which was mainly introduced with the object to discourage and prevent the widespread piracy prevailing in video films and records. ..... of the corrections and improvements, the independent skill & labour, and the creativity in the end-product is such as to create a new copyright work to make the creator of the derivative work the author of it; and if not, there will be no new copyright work and then the original author will remain the author of the original work and the creator of the derivative work will have been the author of the alterations or the inputs put therein, for their nature will not have been such as to attract the protection under the law of copyright ..... to secure a copyright for the judgments delivered by the court, it is necessary that the labour, skill and capital invested should be sufficient to communicate or impart to the judgment printed in scc some quality or character which the original judgment does not possess and which differentiates the original judgment from the printed one. ..... 6472/2004 has submitted that the judgment of the court is a government work as defined under section 2(k)(iii) and on account of section 17 (d), the government in the absence of any agreement to the contrary be the first owner of the copyright therein. .....

Securities and Exchange Board of India Vs. Ajay Agarwal

Court : Supreme Court of India

Reported in : II(2010)BC173,[2010]155CompCas1(SC),[2010]98SCL424(SC),2010(3)LC1300(SC)

..... the absence of any challenge to those provisions, it cannot be said that even though board is statutorily empowered to exercise functions in accordance with the amended law, its power to act under the law, as amended, will stand frozen in respect of any violation which might have taken place prior to the ..... constitution bench of this court speaking through justice wanchoo, as his lordship then was, held that a forfeiture by a district judge under section 13(3) of criminal laws amendment ordinance of 1944 cannot be equated to a forfeiture under section 53 of ipc inasmuch as forfeiture under section 13(3) of the ordinance involved embezzlement of government money or property and the same is not punishment or penalty within the meaning of article 20(1) of constitution (see paras 14 and 15 of the judgment).37. ..... 31st march, 2004 chairman of the board passed an order, the concluding portion whereof is as under:therefore, in exercise of the powers conferred upon me by virtue of section 4(3) read with section 11 and section 11b of sebi act, i hereby direct that shri ajay agarwal be restrained from associating with any corporate body in accessing the securities market and also be prohibited from buying, selling or dealing in securities for a ..... analyse some of the provisions of the act it appears that the board has been established under section 3 as a body corporate and the powers and functions of the board have been clearly stated in chapter iv and under section 11 of the said act.43. ..... 1996 .....