Judgment Search Results Home > Cases Phrase: state financial corporations act 1951 section 15 chairman of board Page 15 of about 14,569 results (0.526 seconds)

Jagannath Business Service Pvt. Ltd. and anr. Vs. West Bengal Financia ...

Court : Kolkata

Reported in : AIR2007Cal117

..... and it is in the peculiar facts of that case that it was held that steps could not be taken against the purchasers under section 29 of the state financial corporation act. once it is accepted that wbfc is a mortgagee in respect of the properties in question right of the wbfc under section 29 to proceed against the mortgaged ..... subsisting?(c) is wbfc entitled to sell the property for recovery of its dues?(d) is the notice dated 5th july, 2005 issued under section 29 of the state financial corporation act valid and legal?20. i shall take up the issues in the order they have framed.a:the advertisement published in the newspapers by wbidc inviting tender for ..... petitioner has not disputed the fact that the wbfc is a mortgagee in respect of the property in question. his contention however is that section 29 of the state financial corporation act has no manner of application to the facts of this case. in support of his submission he relied on a division bench judgment of the kerala high court .....

West Bengal Financial Corporation and anr. Vs. Gluco Series Private Lt ...

Court : Kolkata

Reported in : AIR1973Cal268

hazra, j.1. the petitioner west bengal financial corporation is a body corporate established under the state financial corporations act, 1951 (act, lxiii of 1951) (hereinafter referred to as the said act). the petitioner no. 2 shri kalipada chatterjee is an officer of the west bengal financial corporation (hereinafter referred to as the financial corporation). the respondent is a private limited company incorporated under the companies act, 1956 (hereinafter referred to as the respondent company ..... the receiver of the mortgaged and charged properties.4. the petitioner no. 1 is a corporation solely established under the said act. the act contains elaborate provisions as to incorporation of state financial corporation their capital and management. the general superintendence and management of the affairs of the business of the financial corporation vests in a board of directors which, with the assistance of an executive committee and .....

Maheshpur Tea and Industries Pvt. Ltd. Vs. Mantala Tea Co. Ltd. and or ...

Court : Guwahati

..... court has laid down certain principles which must be followed in a proceeding for sale of mortgaged property under section 29 of the state financial corporation act, 1951, (for short, 'the act, 1951'). he argued that though these provisions were laid down in a judgment delivered on 12.2.1992, the supreme court applied ..... of judicial review is confined to two situations, namely (1) where there is a statutory violation on the part of the state financial corporation or (2) where the state financial corporation acts unfairly, i.e., unreasonably, and the high court was not justified in interfering with the action of the corproation in accepting ..... in view of the sale arrangements of mantala tea estate to you by assam financial corporation, shillong under section 20 of the state financial corporation act, 1951. since you have posted your observer at mantala tea estate under the authority of assam financial corporation, shillong, it might be your interest also to see the pending finalisation of .....

Karnataka State Industrial Investment and Development Corporation Ltd. ...

Court : Karnataka

Reported in : AIR1998Kant195; [1998]94CompCas409(Kar)

..... of 82 comp cas) :'we, however, do not see any inconsistency between the provisions of section 29 of the state financial corporations act and section 529 of the companies act. section 29 of the state financial corporations act, merely confers certain powers on the mortgagee. it does not cover a situation where there is a pari passu charge- ..... thus (page 356) : 'we, however, do not see any inconsistency between the provisions of section 29 of the state financial corporations act and section 529 of the companies act. section 29 of the state financial corporations act merely confers certain powers on the mortgagee. it does not cover a situation where there is a pan passu charge- ..... sum of rs. 1,46,36,070 as on september 15, 1989, to the corporation, in exercise of the power conferred on it under section 29 of the state financial corporations act, 1951 (hereinafter referred to as 'the financial corporations act'), took possession of the assets of the company on december 1, 1989. thereafter, the .....

George Vs. Oommen

Court : Kerala

Reported in : 2005(2)KLT92

..... the owner of that building had taken loan from the kerala financial corporation. as default was committed in repayment of the loan, the kerala financial corporation took over the building under section 29 of the state financial corporations act. ext.a2 notice was issued by the kerala financial corporation to the present landlord directing him to vacate the room in ..... enjoying the tenancy fights in respect of the petition schedule building. the respondent-landlord had to vacate the building in his occupation when the kerala financial corporation took over that building. thereafter, the landlord approached the rent control court to get an order of eviction in respect of the petition schedule building ..... rent by his son jacob on a temporary basis.4. the landlord further contended that on receipt of ext.a2 notice issued by the kerala financial corporation, a notice was issued to the tenant requesting him to vacate the petition schedule building. bona fide need for own occupation of the landlord .....

Jagjeet Singh and Dile Ram Vs. Himachal Pradesh Financial Corporation ...

Court : Himachal Pradesh

Reported in : [2001]103CompCas629(HP)

..... of india [1998] 93 comp cas 89 (delhi), a division bench of the delhi high court dealing with the appointment of a managing director of the financial corporation as an authority under section 32g of the state financial corporations act, 1951, held that though section 32g is not unconstitutional it postulates appointment of an independent person and thus it deserves to be declared that the managing ..... 1982 were repugnant to those of the state financial corporations act, 1951. 6. act no. 22 of 1973 was passed in the year 1973 to provide for the speedy recovery of certain classes of dues payable to the h. p. financial corporation established under the state financial corporations act, 1951, and any other corporation owned or controlled by the central government or the state government which the state government may, by notification, specify. the .....

Lion Textile Industries Vs. H.P. Financial Corporation and ors.

Court : Himachal Pradesh

Reported in : 2008(3)ShimLC310

..... for rs. 0.70 lacs and immoveable assets were sold on 22.2.1997 for rs. 1,38,000/-. the application has been preferred by the respondent-corporation under section 32-g of the state financial corporation act, 1951.7. a specific ground has been taken in the reply filed by the petitioner concern that the application was barred by limitation. according to mr. r ..... thus within time. it was submitted that the courts have upheld the legal fiction that applications under section 31 of the state financial corporation act are treated in the nature of execution proceedings. in support of this submission the learned counsel referred to gujarat state financial corporation v. natson . it was observed by this court in this case that:the substantive relief in an application under section .....

Bakeman'S Industries PVT LMT Vs. New Cawnpore Floor Mills And Ors.

Court : Delhi

..... court made certain observations which are as follows:it is an admitted position that m/s sicom exercised the powers under section 29 of the state financial corporation act and took over possession of the factory premises of m/s bakemans industries pvt. ltd. and they continue to be in possession of the said ..... proceedings were initiated by the nri lead bank, the respondent no. 2 sicom ltd. exercising its powers under section 29 of the state financial corporation act, 1951 (hereinafter referred to as the sfc act) had taken over the assets, namely, building, plant and machinery etc. of the respondent company and in the arbitral award it ..... behalf of the workmen. in any event, the official liquidator cannot act without seeking directions from the company court and under its supervision.right of financial corporation in respect of the factory premises shall be guided by section 29 of the state financial corporation act read with decision of the supreme court in international coach builders ltd. .....

Salem Textiles Limited Vs. Authorized Officer of Phoenix Arc Private L ...

Court : Chennai

..... many times only in the conduct of legal research, at the cost of banks and other financial institutions. state financial corporations act 10. 1. the state financial corporations act, 1951, was enacted, primarily with a view to enable state governments to set up industrial financial corporations, on the same lines as the central financial corporations set up under act xv of 1948 by the central government, immediately after independence. but, even at that time, the ..... court for the sale of the mortgaged property or for the transfer of the management and for such orders as would safeguard the rights of the financial corporation. 10.2. the state financial corporations act, 1951, underwent major changes under amendment act 56 of 1956. one of the important changes made, was the insertion of the provisions of section 32a to 32g. it is relevant to note .....

Maharashtra State Financial Corporation Vs. Official Liquidator, Sidhu ...

Court : Mumbai

Reported in : [1988]64CompCas641(Bom)

..... the learned single judge of this court in company petition no. 4s of 1986.2. the petitioners are the maharashtra state financial corporation, a financial institution created under the state financial corporation, a financial institution created under the state financial corporation act,1951. the thrust in petition now is that the petitioners who are the secured creditors of m/s. sidhu ..... thought a secured creditor, is unable to made any head way despite the order made by the managing director under section of 29 of the maharashtra state financial corporation act 1951.9. shri s, tamba, learned counsel for the petitioners, in support of the present petition, has raised several contentions, in that he ..... their lawyer and having found that the situation is incorrigible, the managing director of the petitioners made an order under section 29 of the state financial corporations act to take over the entire equipment and machinery existing in the sheds nos. 9 and 10 of d-2. a panchnama was made and .....