Court : Chennai
Reported in : [1996]86CompCas747(Mad)
..... , integrity and standing and have adequate knowledge or experience of or have shown capacity in dealing with problems relating to economics, law, commerce, accountancy, industry, public affairs or administration and not necessarily obtained any degree or diploma in such fields or attained such academic achievements as qualifications or any training for ..... service. a state bank or nationalised bank renders as much service as private bank. no distinction can be drawn in private and public transport or insurance companies. even the supply of electricity or gas which throughout the country is being made, mainly, by statutory authorities is included in it. the legislative ..... rights for relief and for defence with like protection and without discrimination.' 30. while adverting to the aspect of exclusion of the principles of natural justice, special emphasis has been made relying on the decisions reported in : [1981]2scr533 (swadeshi cotton mills v. union of india) and : air1990sc1480 (charan lal .....
Tag this Judgment!Court : Chennai
Reported in : 1994(73)ELT33(Mad)
..... . 3 and 8, in particular, the actual users may be private individuals or authorities and need not necessarily be manufacturers using the goods in question is an 'industrial process' in a narrow sense of that term. for instance, any computer room, hospital or factory purchasing parts of refrigerating and air-conditioning appliances and machinery for use ..... of orthoxylene by the petitioner through the port of madras. 2. the petitioner, in the affidavit filed in support of the writ petition claims to be a company incorporated under the companies act, 1956. it is claimed that they have a factory at station road, raichur, karnataka state and they manufacture phthalic anhydride (hereinafter referred as 'finished ..... act, 1944 and central excise rules, 1944, covered only excise duty levied under the act and the expression 'duty of excise' does not cover special duty of excise levied under various finance bills and acts or additional duty of excise levied under additional duties of excise (goods of .....
Tag this Judgment!Court : Chennai
Reported in : [1994]81CompCas669(Mad)
..... shares only on the grounds stated in sub-section (3) of section 22a of the scra. it is further laid down that there is a special duty cast upon such companies that in cases were the board of directors form an opinion that the registration of transfer of shares should be refused on any of the grounds mentioned ..... in the said decision that the main purpose of section 22a was to ensure free transferability of shares of listed companies and for that purpose the unlimited powers of the company to refuse registration were circumscribed only to four grounds. in jagatjit industries ltd. v. mohan meakin ltd. [1991] 2 comp lj 288 : [1994] 80 comp cas 411 (clb ..... with the action on an application by others in the same section compels the conclusion that on an application by anybody other than the state government, the state industrial court or a district industrial court may also refuse to take action.' 32. here also the expressions 'may' and 'shall' have been used in the same section, namely, section .....
Tag this Judgment!Court : Chennai
Reported in : [1996]87CompCas438(Mad); 1995(1)CTC73; (1995)ILLJ588Mad
..... , hereinafter referred to as 'the bifr', initiated proceedings suo motu on june 26, 1991, under section 16(1)(b) of the sick industrial companies (special provisions) act, 1985, hereinafter referred to as 'the sic act', to determine whether the company has become a sick industrial company within the meaning of section 3(1)(o) of the sic act. the board heard the management, financial institutions and the labour ..... also for intimation as to the date of commencement of the proceedings on the said reference. on october 15, 1993, the board passed an order declaring the company to be a sick industrial company under the provisions of the sic act and appointed the idbi as the operating agency under section 17(3) of the sic act. the operating agency was directed to have .....
Tag this Judgment!Court : Chennai
Reported in : [1997]89CompCas600(Mad)
..... of 1994 and 4427 of 1994 have come up in appeals. 2. in the writ petitions, the petitioners sought for declaring that section 20 of the sick industrial companies (special provisions) act, 1985 (hereinafter referred to as 'the act'), is ultra vires and unconstitutional. this relief was sought for on the ground that section 20 ..... in which section 20 appears in the act. the object of the act is to make in public interest special provisions with a view to securing the timely detection of sick and potentially sick companies owning industrial undertakings, the speedy determination by a board of experts of the preventive, ameliorative, remedial and other measures which ..... employment and optimise the use of the funds of the banks and financial institutions, it would be imperative to revive and rehabilitate the potentially viable sick industrial companies as quickly as possible. it would also be equally imperative to salvage the productive assets and realise the amounts due to the banks and financial .....
Tag this Judgment!Court : Chennai
Reported in : (1995)2MLJ43
..... erecting the building after deduction for depreciation of not less than 10 per centum of such cost. (section 82(2)(ii). in the case of any building in the industrial estate, the annual value of the said building shall be deemed to be 4% of its capital value section 82(a). to ensure objectivity in the levy of ..... be considered if it reaches the panchayat office within sixty days from the date of such notice in the case of the government, a railway administration or a company and within thirty days from the date of service of such notice in other cases.rule 10(4) is in the following terms:when assessment books have been ..... furnished. this court, following the decision in dalavai v. government of tamil nadu : (1978)1mlj93 , has held in jayaprakash v. executive. authority, thiruthangal panchayat : air1982mad272 , that when special notices of enhancement are given under rule 10(3) of the tamil nadu act 35 of 1988, it is incumbent upon the assessing authority while serving the notices to state .....
Tag this Judgment!Court : Chennai
Reported in : (1995)1MLJ1
..... the supreme court under article 136 of the constitution of india, provides that 'no court except the supreme court or any industrial tribunal, labour court or authority constituted under the industrial disputes act, 1947, or any other corresponding law for the time being in force, shall have or be entitled to exercise ..... calling for interview or viva voice and preparation of list of successful candidates for appointment.22. the last decision relied on by mr. p. shanmugham, learned special government pleader is reported in union of india v. deep chand pandey : air1993sc382 . in that case, the question which fell for decision before the supreme ..... any jurisdiction or authority in relation to such recruitment or matters concerning recruitment or such service matters.'14. the learned special government pleader cited the decision .....
Tag this Judgment!Court : Chennai
Reported in : [1995]215ITR64(Mad)
..... the interest and the rented land and the effective source - not land - has become apparent.' 10. in cambay electric supply industrial co. ltd. v. cit : [1978]113itr84(sc) , the supreme court considered a claim to special deduction under section 80e of the 1961 act as it stood prior to the amendment by the finance (no. 2) act ..... the whole or substantially the whole of the affairs in india of any other company, at or in connection with the termination of his office or the modification of the terms and conditions relating thereto; (c) any person, by whatever name called, ..... other payment due to or received by, - (a) any person, by whatever name called, managing the whole or substantially the whole of the affairs of an indian company, at or in connection with the termination of his management or the modification of the terms and conditions relating thereto; (b) any person, by whatever name called, managing .....
Tag this Judgment!Court : Chennai
Reported in : (1996)ILLJ763Mad
..... is the case of the petitioners that they are incurring heavy losses for several years. they have therefore, applied for the relief under the sick industrial companies (special provisions) act, 1985 (hereinafter referred to as s.i.c.a.) on may 27, 1988 the company has been declared as a sick industry. further proceedings relating to the framing of a scheme is pending with the board for ..... petition 7656 of 1994 submitted in the first piace. that s.i.c.a is a special enactment dealing with sick industies and the industrial disputes act is a general enactment dealing with labour, employees and management relationship , that once when the petitioners company has been declared as a sick industrial company within the meaning of s.i.c.a. it is governed only by provisions of .....
Tag this Judgment!Court : Chennai
Reported in : (1995)1MLJ322
..... possession of the properties. in 1983 the first defendant arranged to secure loan from punjab national bank for sri vasudeva industries limited. defendants 1, 4, the plaintiff and the 10th defendant were the directors of the company. the plaintiff and the 10th defendant signed documents for personal guarantee as directed by the first defendant. they did ..... the suit was intended only to preserve and safeguard the family properties from any possible risk or danger from the claims of creditors of a defunct and sick textile unit in which he was greatly interested. on 16.8.1984 the plaintiff and the 10th defendant were taken to the court by the first defendant ..... properties and business as joint family properties. the first defendant was venturing and choosing sick and failing units in order to revive them as the investments were giving him an advantage on the taxation side. one such unit was sri vasudeva industries limited, which was always under heavy liability and went into liquidation in 1967. .....
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