Judgment Search Results Home > Cases Phrase: state bank of sikkim acquisition of shares and miscellaneous provisions act 1982 chapter iv payment of amounts Page 1 of about 390 results (0.177 seconds)

Saini and Co. Rice Mills Etc. Vs. State of Punjab

Court : Punjab and Haryana

Reported in : (2009)156PLR559

..... among the miscellaneous provisions made in chapter v appearing is section 39 of the act, which empowers the state government to give instructions on questions of policy matter in consultation with and after obtaining the advice of small industries bank. ..... chapter iv deals with the business of the small industries bank, which includes several kinds of activities including granting of loans and advances to banks or financial institutions, accepting, collecting, discounting or re-discounting bills of exchange or promissory notes, subscribing to or purchasing stocks, shares, bonds or debentures, granting letters of credit or loans and advances to the financial corporations and the like. ..... [(2-a) nothing contained in sub-section (1) and subsection(2) shall apply in a case where a state government holds less than fifty-one per cent of the equity shares in the financial corporation. ..... the remaining petitions forming part of this batch have been filed by different industrial units, who are in default of payment of the amounts borrowed by them from the punjab financial corporation and against whom the corporation has initiated proceedings for recovery of outstanding loan amounts. ..... the second condition which is equally important is that in cases where the state government does not hold 51% or more of equity shares in the financial corporation, no such directions can be issued with or without sidbi's consultation. .....

Mayavaram Financial Corporation Ltd. and ors. Vs. Reserve Bank of Indi ...

Court : Chennai

Reported in : [1971]41CompCas890(Mad)

..... banking laws (miscellaneous provisions) act, 1963 (55 of 1963), which received the assent of the president on december 30,1963, and ..... : ' ' financial institution ' means any non-banking institution- (i) which carries on as its business or part of its business the financing, whether by way of making loans or advances or otherwise, of trade, industry, commerce or agriculture ; or (ii) which carries on as its business or part of its business the acquisition of shares, stock, bonds, debentures or debenture stock or ..... and includes any amount borrowed by, a company, but does not include- (i) any loan received from government; (ii) any loan raised on terms involving the issue of debentures or the creation of any mortgage, pawn, pledge or hypothecation, charge including floating charge, or lien on the assets of the company or any part thereof ; (iii) any loan received from a banking company or from the state bank of india or from a banking institution notified by the central government under section 51 of the banking regulation act ..... bank under sections 45j, 45k and 45l of the act, that the amendment of the reserve bank of india act by insertion of chapter iii-b became imperative to protect members of the public dealing with such companies, that the insertion of chapter iii-b is to control non-banking institutions in so far as they borrow from and lend out moneys to the public, and that the petitioners are not only non-banking companies but financial institutions as defined in the act, and .....

The Mayavaram Financial Corporation Limited and ors. Vs. the Reserve B ...

Court : Chennai

Reported in : (1973)2MLJ72

..... it is with a view to safeguard the interests of the depositors that parliament made the impugned enactment namely the banking laws (miscellaneous provisions) act (lv of 1963), which received the assent of the president on 30th december, 1963, and was duly published. ..... , of trade, industry, commerce or agriculture; or (ii) which carries on as its business or part of its business the acquisition of shares, stock, bonds, debentures or debenture stock or securities issued by a government or local authority or other marketable securities of a like nature; or (iii) which carries on as its principal business hire purchase transactions or the financing of such transactions.in 1969 after section 45 i (c) (iii) an explanation was added and the explanation runs as follows:explanation--for the removal of doubts it is hereby declared that a company ..... , any amount borrowed by, a company, but does not include(i) any loan received from governments;(ii) any loan raised on terms involving the issue of debentures or the creation of a mortgage, pawn, pledge or hypothecation, charge including floating charge, or lien on the assets of the company or any part thereof;(iii) any loan received from a banking company or from the state bank of india or from a banking institution notified by the central government under section 51 of the banking regulation act (x of 1949) or from a co-operative bank .....

Nedumpilli Finance Company Limited Vs. State Of Kerala .

Court : Supreme Court of India

..... 6.5 chapter iii b as it was introduced by the banking laws (miscellaneous provisions act), 1963, contained no spell binding or path breaking provisions. ..... a new chapter is proposed to be introduced in the reserve bank of india act for enabling that bank to obtain returns and information from (a) certain financial institutions, namely, firms, companies or other bodies corporate which are financing trade, industry, commerce or agriculture, or are carrying on as a part of their business the acquisition of shares, stocks, bonds, debentures or other securities, or are engaged mainly in the financing of hire purchase transactions and (b) non banking institutions accepting deposits from members of the general public. ..... 23 6.4 accordingly, the banking laws (miscellaneous provisions act), 1963, was enacted, amending the provisions of the aforesaid three parliamentary enactments. ..... 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 past transactions; (xi) to enable the borrower to deposit the amounts due in respect of a loan into court; (xii) to empower the state government to fix the maximum .....

Prakash Gupta Vs. Securities And Exchange Board Of India

Court : Supreme Court of India

..... chapter va, which incorporates section 12a, contains a prohibition of manipulative and deceptive devices, insider trading and substantial acquisition of securities or control in contravention of the provision of the act and ..... sebi act regarding a potential violation of regulations 4(a) and 4(e) of the securities and exchange board of india (prohibition of fraudulent and unfair trade practices relating to securities market) regulations, 1995 ( 1995 pfutp regulations ); regulations 6(1), 6(3), 8(1), 10(1) and 10(2) of the sebi (substantial acquisition of shares and takeovers) regulations, 1994 ( 1994 takeover regulations ) and regulation 10 of the sebi (substantial acquisition of shares and takeovers ..... from six (including chairman) to nine (including chairman); (b) conferring power upon the board for (i) calling for information and record from any bank or other authority or board or corporation established or constituted by or under any central, state or provincial act in respect of any transaction in securities which are under investigation or inquiry by the board; (ii) passing an order for ..... director, on payment or credit, by the company or the officer, as the case may be, to the central government of such sum as that board or the regional director, as the case may be, may specify: provided that the sum so specified shall not, in any case, exceed the maximum amount of the fine ..... provisions for penalties and adjudication in chapter via, chapter vii, which is titled miscellaneous ..... 1982 .....

United India Fire and General Insurance Co. Ltd. and ors. Vs. A.A. Nat ...

Court : Chennai

Reported in : (1980)ILLJ369Mad

..... act, 1972, central act 57 of 1972, was passed to provide for the acquisition and transfer of shares of indian insurance companies, and undertaking of other existing insurers in order to serve better the needs of the economy by securing the development of general insurance business in the best interests of the community and to ensure that the operation of the economic system does not result in the concentration of wealth to the common detriment, for the regulation and control of such business and ..... is any financial assistance given by the state, if so, what is the magnitude of such assistance; whether there is any other form of assistance given by the state, and, if so, whether it is of the usual kind or it is extraordinary; whether there is any control of the management and policies of the corporation by the state and what is the nature and extent of such control; whether the corporation enjoys state conferred or state protected monopoly status and whether the functions carried out by the ..... contend that he could sustain the order on the basis that, when there is no specific provision for terminating the service of the first respondent by the appellant-company, the general presumption was that the employer could terminate the service of the employee by giving one month notice and that the order could be justified by holding that the appellant had the right to terminate the ..... occurs in chapter vii, under the heading 'miscellaneous', is significant ..... amounts to be paid for acquisitions .....

Bhoruka Steel Ltd. Vs. Fairgrowth Financial Services Ltd.

Court : Mumbai

Reported in : [1997]89CompCas547(Bom)

..... resolved the conflict by considering the object and purpose of the two laws and giving precedence to the banking companies act by observing : 'it is, therefore, desirable to determine the overriding effect of one or the other of the relevant provisions in these two acts, in a given case, on much broader considerations of the purpose and policy underlying the two acts and the clear intendment conveyed by the language of the relevant provisions therein' (page 615). ..... it was, however, clarified that if the applicants failed to pay the amount within that time then the pledged shares were to be sold and the net sale proceeds to be appropriated towards the dues of the applicants to fairgrowth financial services ..... extension of time is sought for making payment under the order dated july 6, 1994, as modified by order dated march 23, 1995, in miscellaneous application no. ..... the above judgments, submit that the supreme court has taken into consideration the objects of the sick companies act and has also taken into consideration the fact that the sick companies act was a post-sickness act and the state financial corporation act was a pre-sickness act. ..... 14a and chapter iiia having been enacted with effect from december 1, 1975, are later enactments in reference to section 19 of the slum clearance act which, in its present form, was placed on the statute book with effect from february 28, 1965, and in reference to section 39 of the same act, which came into force in 1956, when the act itself .....

T. Velayudhan Achari and anr. Vs. Union of India (Uoi) and ors.

Court : Supreme Court of India

Reported in : I(1993)BC564(SC); [1993]77CompCas197(SC); JT1993(1)SC580; (1993)2MLJ90(SC); 1993(1)SCALE586; (1993)2SCC582; [1993]1SCR832

..... in the year 1963, banking laws (miscellaneous provisions) act, 1963 inserted chapter iii-b in the reserve bank of india act. ..... reasonableness of two-year period section 45(i)(bb) of the reserve bank act defines 'deposit' as follows:(bb) 'deposit' includes and shall be deemed always to have included any receipt of money by way of deposit or loan or in any other form, but does not include -(i) amounts raised by way of share capital; (ii) amounts contributed as capital by partners of a, firm; (iii) any amount received from,-(iv) any amount received from, - (a) the development bank; (b) a state financial corporation established under the state financial corporations act, 1951; (c) any financial institution specified in or under section ..... in any event, while receiving deposits it was not an offence, making it a criminal liability and directing payment, would amount to ex post facto law, offending article 20(1) of the constitution. ..... union of india 1982(1) scr 947 this aspect of the matter was highlighted.25. .....

Maharashtra State Electricity Board Vs. Datar Switchgear Ltd.

Court : Mumbai

Reported in : 2003(2)BomCR81

..... . chapter x of part-i makes miscellaneous provisions and section 38 thereof deals ..... discretion for the exercise of the discretion of the arbitral tribunal; (5) the order for payment can be enforced only in the manner provided in section 36 of the act; (6) the conduct of mseb disentitles it to any relief particularly when no steps were taken by mseb for encashing the bank guarantees despite the attention of mseb having been specifically drawn to the effect that the bank had not confirmed the renewal of the guarantees; (7) though mseb sought a stay of ..... . the second proviso to sub-section (2) enunciates that where the other party also does not pay the aforesaid share in respect of the claim or the counter claim, the arbitral tribunal may suspend or terminate the arbitral proceedings in respect of such claim or counter-claim as the case ..... the bank stated that it was not obliged to extend the bank guarantees and accordingly the question of renewing the bank guarantees and paying any amount thereunder did not ..... . several letters were addressed by dsl both to idbi bank and to the other financial institutions which have a 40% stake in the share capital of dsl asking for their urgent intervention in ..... may, 2001, 20th july, 2001, 26th july, 2001 and 28th august, 2001 dsl addressed several letters to the idbi bank and to other financial institutions which have invested in the share capital of dsl, making repeated requests that steps should be taken for the renewal of the bank guarantees. .....

Parry Agro Industries Ltd. Vs. Commissioner of Income Tax

Court : Kerala

Reported in : (2006)204CTR(Ker)257; 2006(3)KLT592

..... amount of depreciation;(ii) the amount of income-tax paid or payable, and provision therefor;(iii) the amount of surtax paid or payable under the companies (profits) surtax act, 1964 (7 of 1964);(iv) the amounts carried to any reserves, by whatever name called;(v) the amount or amounts set aside to provisions made for meeting liabilities, other than ascertained liabilities;(vi) the amount by way of provision for losses of subsidiary companies; and(vii) the amount or amounts of dividends paid or proposed.if any debited to the profit and loss account; and as reduced by any amount or amounts withdrawn from reserves or provisions, if such amounts ..... and loss account to show the income from the manufacturing account [clause 3(ii)(a)], amount of income from investments, distinguishing between trade investments and other investments [clause 3(xi) (a)], other income by way of interest specifying the nature of income [clause 3(xi)(b)], profits and loss in respect of transactions of a kind, not usually undertaken by the company or undertaken in circumstances of an exceptional or non-recurring nature, if material in amount (clause 3 (xii)(b)], miscellaneous ..... previous year;(ii) any compensation or 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, .....