Court : Company Law Board CLB
Reported in : (2001)104CompCas638
..... 1994 bom. 293), he pointed out that the law declared by the high court, right or wrong, is binding on all courts and tribunals in the state and since clb has all india jurisdiction, it is bound by the decisions of the high court cited earlier. on the same proposition, he also relied on saik girldhira supply co. ..... :-- "at the further hearing of these appeals, the learned counsel for the appellant did not press the claim to the addition of parties besides those who have expressly stated their willingness to be added, that is, the respondents 15, 16 and 20".later in the same page of the judgment, the division bench further observed : " ..... protect the interests of the minority shareholders, liberal construction should be adopted as decided in scotish cooperative wholesale society ltd.'s case (supra) as also in needle indus tries (india) ltd. 's case (supra) by the supreme court.such just and equitable interpretation is necessary to advance remedy as held in margaret dessor case [1990] 1 scc .....
Tag this Judgment!Court : Company Law Board CLB
Reported in : (2000)102CompCas466
..... in taking part in the affairs of a company and the other is the nature of such a role.38. all over the world, more particularly in india, it is an undisputed state of affairs that the largest shareholder, with variation in degrees, whether in the board or not, does have a commanding say in the management of the ..... sarkar pointed out that nominal shareholding is an irrelevant consideration as long as the petitioners satisfy the requirements of section 399. relying on killick nixon ltd. v. bank of india [1985] 57 comp cas 831 (bom), he submitted that the petitioners need not allege any personal grievance and that personal prejudice is irrelevant. he also ..... institutions to increase the working capital limits of the company. even though the turnover increased from rs. 100 crores to rs. 400 crores from 1984 to 1992, the banks increased the limit only by rs. 10 crores. further, due to entry of multinationals into the liquor trade, the company had to incur enormous expenses on publicity, brand .....
Tag this Judgment!Court : Company Law Board CLB
Reported in : (1995)83CompCas371
..... a company, in which the non-resident holding is more than 40 per cent. would require permission of the reserve bank of india (rbi) to carry on business in india. under section 29(4), the reserve bank of india has power to give directions for disinvestment of foreign equity holding or impose conditions while granting licence to carry on ..... gone through the copies of the opinions given by justice a.n. grover on december 28, 1990, and shri g. ramaswamy, attorney-general for india on november 17, 1991. it is stated in justice a. n. grover's opinion : " the short question which has to be determined is whether the word firm used in section ..... trading business in which case sharing of goodwill assumes a substantial importance. there is no such case in the present situation. shri chagla concluded his arguments stating that in the light of the foreign collaboration agreement, provisions of the articles of association and well established principles in various court cases, whenever a situation .....
Tag this Judgment!