Judgment Search Results Home > Cases Phrase: state financial corporations act 1951 preamble 1 state financial corporations act 1951 Page 1 of about 31,253 results (0.450 seconds)

N. Lakshmana Vs. M/S. The Karnataka State Financial Corporation

Court : Karnataka

..... .22. before proceeding with the present case, it would suffice to rely upon the object of the state financial corporation act, 1951. the preamble is the key to open the mind of the maker of the law, if the act is read with its preamble would indicate the object which the 26 legislature seeks to achieve in enacting ..... . justice b.veerappa writ petition no.330/2016 (gm-ksfc)between : n lakshmana s/o late s narayanappa aged about51years no.5, govindappa lane thigalarapet bengaluru560002. petitioner financial corporation no.1/1, thimmaiah road bengaluru560052. rep. by its managing director. (by sri m j alva, advocate) and:1. m/s.the karnataka state2 respondents (by ..... maintainable as the petitioner has alternative remedy to approach debt recovery tribunal under the provisions of section 17 of the sarfaesi act. he would further contend that the petitioner made representation on 21/01/2011 to the corporation stating that the amount paid by him i.e. rs.8,50,000/- may be refunded contending that os .....

Malanpur Steels Ltd. Vs. Adjudicating and Enquiry Officer

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... be covered by the embargo envisaged in section 22(1) of sica.4. in maharashtra tubes ltd. v state industrial & investment corporation of maharashtra ltd. and anr. (1993) 2 scc 144, the state financial corporation initiated proceedings under section 29 and/or under section 31 of state financial corporation act, 1951 against a sick industrial company and the question arose whether it could do so in view of the ..... bar contained in section 22 of sica. their lordships of the supreme court examined the object and scope of sica and also that of section 22(1) thereof and observed as under: on the other hand, the 1985 act was .....

Braithwatte and Co. Ltd. Vs. D.T.M. Construction Pvt. Ltd.

Court : Kolkata

Reported in : (1996)1CALLT171(HC)

..... case had discussed the various provisions of the s.i.c.a and also section 29 and or section 31 of the state financial corporation act, 1951. the scope of sections 29 and 31 of the state financial corporation act are widely for recovery of the corporation's due from the industrial unit. the apex court has taken the view about the expression 'proceedings' as follows:-'on the other ..... hand, the 1985 act was enacted, as its preamble manifests,. with a view to timely detection of sick or potentially sick companies owning industrial .....

Union of India (Uoi) Vs. Krishna Mills Ltd.

Court : Rajasthan

Reported in : [1994]81CompCas50(Raj)

..... the question that arose for consideration related to continuance of proceedings under the state financial corporations act, 1951. after making a reference to the state financial corporations act, 1951, as well as the act of 1985 their lordships observed (at page 813) :'on the other hand the 1985 act was enacted, as its preamble manifests, with a view to timely detection ..... charitable trust, air 1988 guj 213 ; [1989] 66 comp cas 555, and also on the decision of the supreme court in maharashtra tubes ltd. v. state industrial and investment corporation of maharashtra ltd. [1993] 78 comp cas 803 ; [1993] 2 scc 144. mrs. shukla, learned counsel for the petitioners, has on the other ..... financial institutions, state level institutions or any institution or other authority.10. section 20 also speaks of the winding up of the company at the instance of the board where the board is of the opinion that it is just and equitable to wind up the sick industrial company. it is, thus, clear that the 1985 act .....

Siddh Industries and 3 ors. Vs. Union Bank of India and anr.

Court : Madhya Pradesh

Reported in : I(2004)BC402; 2004(1)MPLJ147

..... opportunity of hearing before taking steps against the borrower, who defaulted making payment to the financial corporation. the principle of audi alteram partem' in our considered opinion, does not ..... 2003passed on 8.4.2003 (saleem ahmad and ors. v. state bank of india and ors.) in thematter of section 13 of the act, 2002 and the division bench of the allahabad has recentlyheld as under:'section 13(4) of the act to some extent is pari materia with section 29 of the state financial corporations act, 1951 and the latter provision does not envisage of any .....

Rustom Cavasjee Cooper Vs. Union of India (Uoi)

Court : Supreme Court of India

Reported in : AIR1970SC564; [1970]40CompCas325(SC); (1970)1SCC248; [1970]3SCR530

..... . there are similar statutes conferring powers on the government to give directions, namely, state bank of india act, 1955, state financial corporation act, 1951, university grants commission act, 1956 life insurance act, 1956, deposit insurance act, 1961, national cooperative development corporation act, 1962, agricultural refinance corporation act, 1963 and state agricultural credit corporations act, 1968. there are english statutes which contain similar provisions of exercise of power or directions by the government in regard to the .....

Alka Ceramics Vs. Gujarat State Financial Corporation and ors.

Court : Gujarat

Reported in : (1985)1.GLR57

..... not including co-operative societies.it is said that the parliament has power to pass a law providing for constitution of state financial corporations as it was done by the state financial corporations act, 1951. the state financial corporations conceived thereunder are financing bodies. it is also open to the parliament in exercise of the power covered by this field of entry to legistate on incidental matters such is ..... by concurrent list. the argument at first sight is no doubt attractive, but a closer examination would indicate that while no doubt recovery of dues of all state financial corporations could be provided for under the state financial corporations act as that would only be an exercise incidental to the exercise of a power in respect of a field falling under entry 43 of list i the .....

National Textile Corporation (Nm) Ltd. Vs. Shivaji Gopal Gorule and an ...

Court : Mumbai

Reported in : 2001(1)BomCR753; [2001(88)FLR602]; (2002)IVLLJ301Bom

..... the option of winding up of the unit can be i resorted to.' 19. having considered the provisions of the state financial corporation act, 1951 and the sick industrial companies (special provisions) act, 1985 the supreme court held that both these acts were special acts, the 1951 act being enacted with a view to extending financial assistance to industrial concerns to provide a boost for industrialisation and the 1985 ..... ltd., : [1993]1scr340 . the issue before the supreme court was as regards the application of the provisions of the state financial corporation act, 1951 andspecifically sections 29 and 31 thereof in relation to an industrial company which had been declared as sick under the act of 1985. in para 6 of its judgment the supreme court set out the objects and underlying purpose of the1985 .....

G.S. Industrial Gases Private Limited Vs. Managing Director, A.P. Stat ...

Court : Andhra Pradesh

Reported in : 2001(5)ALD319; [2003]115CompCas787(AP)

..... the objectives of development and also objectives laid down in a particular enactment. in the present case we are concerned with state financial corporations act. it is the normal business activity of the state financial corporation to ensure that the companies run and loans advanced by it are recovered. the methods adopted for recovery in case of ..... feel that the petitioner has come to thiscourt with cleam hands. the petitioner has not even challenged the order passed under section 29 of the state financial corporations act nor has he challenged the notice by which tenders were called. he has also not challenged the letter issued to him giving him option of ..... be exercised by the respondents. it is necessary to have a glance over the relevant provisions of state financial corporations act (hereinafter referred to as 'the act') in order to decide the controversy.3. the preamble of the act lays down that, in order to provide medium and long time credit to industrial undertakings which fall .....

M/S. Karnataka Ball Bearing Corporation Ltd. Vs. M/S. DolphIn Fisherie ...

Court : Karnataka

Reported in : AIR1995Kant330; [1995]83CompCas544(Kar); ILR1995KAR784; 1995(3)KarLJ577

..... ', t993 (78) com cas 803 : 1993 air scw 991, the supreme court has considered the overriding effect of the provisions of section 22 vis-a-vis section 29 of the state financial corporations act, 1951. the question that arose for consideration was whether in a case where an industrial concern makes any default in repayment of any loan or advance or any instalment therefor ..... obligations under the terms of any agreement with a financial corporation, the latter can take recourse to sections 29 and/or 31 of the state financial corporations act, 1951, notwithstanding the bar of section 22 of the act.10. referring to the relevant provisions of the act of 1951 and the act of 1985, it is held that if the corporation is permitted to resort to the provision of section .....