Judgment Search Results Home > Cases Phrase: state financial corporations act 1951 section 15 chairman of board Court: delhi Page 3 of about 1,195 results (0.135 seconds)

The Peerless General Finance and Investment Co. Limited Vs. Majestic A ...

Court : Delhi

Reported in : AIR1995Delhi373; [1999]96CompCas937(Delhi)

..... arguments in the absence of a formal reply and detailed arguments were addressed.2. the main argument advanced by the petitioner corporation was that it is a financial corporation under the state financial corporations act and is a secured creditor standing outside the purview of winding up proceedings. it claimed that by virtue of provisions ..... in the facts of the present case as i do not find any inconsistency in the state financial corporations act and provisions of companies act particularly in the light of last part of the section 46b of the state financial corporations act. once legislature has treated a category of creditors to rank pari passu with the secured ..... pleas in any further detail. 6. coming to the question of the provisions of section 29 of the state financial corporations act and section 46b. i find that in section 29, the state financial corporation has been given certain additional powers as a secured creditor to realise to seize/take possession of and transfer the .....

M/S Mekastar Telematics Ltd. Vs. Aaifr and ors.

Court : Delhi

..... uttar pradesh (in short picup), which was one of the creditors, had in exercise of its powers under section 29 of the state financial corporation act, 1951 (in short sfc act) sold the plant and machinery of the petitioner in an auction in march-april, 2003. given these facts the bifr came to the conclusion that the petitioner ..... court. this writ petition was numbered as civil misc. writ petition (cwp) 2995/2005 titled "m/s mekaster telematics ltd. vs managing director, the pradeshiya industrial and investment corporation, u.p. ltd". an interim order dated 11.03.2005 was passed by the allahabad high court in cm cwp 2995/2005 to the effect that any transaction made ..... to resuscitate itself. therefore, the plea raised by the petitioner that the period of twelve (12) months had to be counted from the end of the accounting/ financial year and not from the date when the reference was filed cannot lead us astray from the fact that the engagement of the requisite number of workers would only be .....

Delhi Finance Corporation Vs. Ram Pershad and anr.

Court : Delhi

Reported in : ILR1976Delhi479

..... the parties 11 issues were framed. issues no. 1 to 10 were found by the learned district judge in favor of the corporation. in respect of issue no. 11 to the effect 'whether the state financial corporation act. 1951, is ultra virus of the constitution of india as alleged by the respondent' the district judge recorded the finding that the ..... state financial corporation act is ultra virus of the constitution of india and in the result dismissed the suit. the corporation challenged the aforesaid order in appeal in this court (civil appeal no. 84 of 1971). the appeal was ..... a. no. 152 of 1972 under action 10 of the 'letters patent. during the pendency of the appeal the corporation filed an application (cm. no. 1082 of 1975) under section 32(12) of the act read with section 151 civil procedure code turn appointment of a receiver of the mortgaged properties and direct him to seize the .....

Sona Finance Pvt. Ltd. Vs. Triupati Paper Mills Pvt. Ltd. and anr.

Court : Delhi

Reported in : 2003(3)ARBLR307(Delhi); 106(2003)DLT653; 2003(71)DRJ584; 2003(4)RAJ719

..... the following issues:-'1. whether the proceedings before the arbitrator and as well as before this court are nullity in view of provisions of section 29(v) of the state financial corporation act as alleged, if so its effect. opp 2. whether the award is liable to be set aside on the grounds taken by the defendant; opp 3. whether there ..... filing of the same was given to the respondent. on receipt of the notice from the court, respondents filed an application under section 33 of the arbitration act stating inter alias that there was no arbitration agreement between the parties and the matter, thereforee, could not be referred to the arbitrator. it was also ..... 2. the appellant has filed this appeal challenging the judgment of the learned additional district judge whereby the objections filed by the respondent under section 33 of the arbitration act, 1940 were allowed and the award of the arbitrator was set aside. 3. the case set up by the appellant was that pursuant to the request of the .....

Vanita Gambhir and ors. Vs. District Judge and ors.

Court : Delhi

Reported in : 2005(1)ARBLR166(Delhi)

..... a proceeding but all proceedings are not a suit. for example a land acquisition proceeding, an application under section 20 of old arbitration act or under section 31 of state financial corporation act are not a suit.18. none of the attributes of a suit are, thereforee, either present or even discernible in an application under ..... section 11 of the arbitration act which neither commences with a plaint nor involves any adjudication or decision of any right or claim of ..... with the requirements of law for such appointment, he could not have dismissed the two applications. he had also overlooked that provisions of the arbitration act which permitted least judicial intervention in matters involving settlement of disputes which fall within the domain of arbitrator and had also misappreciated and misapplied the provisions .....

The Bank of Nova Scotia Vs. Rpg Transmission Limited

Court : Delhi

Reported in : I(2003)BC270; [2003]114CompCas764(Delhi); 101(2002)DLT154; 2003(66)DRJ24; [2003]42SCL69(Delhi)

..... act, 1984 (62 of 1984), the sick industrial companies (special provisions) act, 1985 (1 of 1986) and the small industries development bank of india ..... any instrument having effect by virtue of any law other than this act.(2) the provisions of this act or the rules made there under shall be in addition to, and not in derogation of, the industrial finance corporation act, 1948 (15 of 1948), the state financial corporations act, 1951 (63 of 1951), the unit trust of india act, 1963 (52 of 1963), the industrial reconstruction bank of india .....

Saraf Steel Pvt. Ltd. Vs. Delhi Financial Corporation and ors.

Court : Delhi

Reported in : 1995IIIAD(Delhi)852; 1995(34)DRJ276

..... r.c. lahoti, j.(1) this is a suit for declaration filed by the plaintiff seeking a decree that section 29 of the stale financial corporation act, 1951 was ultra virus the constitution and a further declaration to the following effect : 'that a decree of declaration he passed declaring that the notice ..... of the payments to the defendants no.1 corporation.'(2) it appears that the plaintiff had made borrowings from the delhi financial corporation in the year 1981. it could not honour the schedule of repayment. on 15.12.1988 the corporation had issued a notice under section 29 of the state finance corporation act to the plaintiff. the declaration that the notice ..... screws (pvt) ltd vs. union of india (air 1983 karnataka 130).(7) learned counsel for the plaintiff has placed reliance on mahesh chandra v. regional manager up financial corporation, : [1992]1scr616 , in support of his plea of the maintainability of the suit while the counsel for the defendant has relied on the decisions of their lordships .....

M and N Publications Ltd. and anr. Vs. Mahanagar Telephone Nigam Ltd. ...

Court : Delhi

Reported in : 49(1993)DLT380; 1992(24)DRJ484

..... u.p. financial corporation & ors, : [1992]1scr616 . this case was under the state financial corporation act, 1951, and the action of the u.p. financial corporation constituted under the act was under challenge. the court held that the corporation was an instrumentality of the state and the corporation and its employees or officers were hound to act reasonably and ..... of the contract for delhi and bombay to golden pages pvt. ltd. it was stated that this was a subsidiary of uip which would in turn enter into a management and financial agreement with sterling. yet another stipulation was advance of rs.6 crores for bombay directory ..... fairly in dealing with property of the debtor and the exercise of the power or discretion in its dealings would be subject to the same constitutional or public law limitations as the government. in this case action of the corporation .....

Rajesh JaIn and anr. Vs. Dcm Shriram Leasing and Finance

Court : Delhi

Reported in : 2005(2)ALD(Cri)22; 2005CriLJ2239; 118(2005)DLT47; (2005)140PLR8

..... the negotiable instruments act:'state financial corporation act: section 29. rights of financial corporation in case of default.(1) where any industrial concern, which is under a liability to the financial corporation under an agreement, makes any default in repayment of any loan or advance, or any ..... asj, who heard the revision. the petitioners took the plea that on account of the order dated 13th february, 1996 u/s 29 of the state financial corporation act 1951 which was passed prior to the dates of the aforesaid three cheques, the petitioners had ceased to be the persons responsible to the company for ..... also dishonoured on account of insufficiency of funds. 6. before proceeding further, it will be appropriate to have a glance at section 138 ni act & section 29(1) of the state financial corporations act so that it can be examined to what extent an order section 29 can exempt the petitioners of the liability u/s 138 of .....

M/S. Jagat Casting Co.(P) Ltd. Vs Union of India and ors.

Court : Delhi

..... loan borrowed by it from the upfc, by way of a private sale to the respondent no. 4 in exercise of its powers under section 29 of the state financial corporations act, 1951 (sfc act) is the subject matter of challenge in this writ petition. 2. the property at plot no. a-20, sikandrabad industrial area, district bulandshahar, uttar pradesh was ..... to the petitioner no. 1. mr. malhotra relied upon the judgment of the supreme court in state financial corporation v. m/s. jagdamba oil mills air 2002 sc 834 to submit that this was a case where the respondent no. 2 had acted irresponsibly in selling properties worth around rs. 20 lakhs by way of a private negotiation. even prior ..... the scope of interference by this court with the action of a sfc under section 29 sfc act have no application to the present writ petition. how should an sfc deal with properties taken over by it?16. what should a state financial corporation (sfc) that takes over the assets of a defaulter do while dealing with such assets .....