Judgment Search Results Home > Cases Phrase: state financial corporations act 1951 section 15 chairman of board Page 9 of about 14,569 results (0.255 seconds)

Mathew Vs. Kerala Financial Corporation Ltd.

Court : Kerala

Reported in : [1991]71CompCas428(Ker)

..... -3, b-7 and b-9.11. for these reasons, we set aside the order passed by the courtbelow dated october 10, 1983, in state financial corporations actpetition no. 144 of 1981. we hold that the: petitioner in state financial corporations act petition no. 144 of 1981 was not authorised tocharge interest at rates higher than 5.5% per annum in the instanttransaction.12. this appeal is ..... appeal against the order of the lower court dated october 10, 1983. the petitioner in the court below is the respondent herein. the petitioner, kerala financial corporation, initiated action under sections 29, 30 and 31 of the state financial corporations act, 1951, and sought recovery of the principal and interest due from the respondent (appellant herein) on account of a loan of rs. 2,53,000 .....

Punjab Financial Corporation Vs. M/S. Surya Auto Industries

Court : Supreme Court of India

Reported in : AIR2010SC266

..... .2008 passed by the punjab and haryana high court whereby it allowed the writ petition filed by the respondent, quashed the action taken by the appellant- corporation under section 29 of the state financial corporations act, 1951 (for short, `the act') for recovery of its dues and also directed review of all pending cases in which penal interest has been compounded. 3. on an application made ..... & allied products (p) ltd. in the matter of action by the corporation in exercise of the powers conferred on it under section 29 of the act, the scope of judicial review is confined to two circumstances i.e. (a) where there is statutory violation on the part of state financial corporation, or (b) where state financial corporation acts unfairly i.e. unreasonably. while exercising its jurisdiction under article 226 .....

Sicom Limited Vs. Co-nick Alloys (India) Limited and ors.

Court : Mumbai

Reported in : 2005(4)ALLMR244; II(2006)BC350; 2005(4)BomCR653; 2005(3)MhLj67

..... carries on business within the jurisdiction of this court then this court shall have jurisdiction to entertain the present petition under section 31(1) of the state financial corporation act, 1951. 13. the learned counsel for the petitioner on the other hand has contended that the word 'carried on business' has been well ..... now turning to the issue of jurisdiction, the learned counsel for the petitioner has contended that under the provisions of section 31(1) of the state financial corporation act it is prescribed that the district judge within the limits of whose jurisdiction the industrial concern carries on whole or substantial part of its business ..... following contentions. . firstly it has been contended that this court has no jurisdiction to entertain the present petition under section 31(1)(aa) of the state financial corporation act. . secondly it is contended that the present petition is not maintainable because of the delay in invoking the bank guarantee. it has been contended that .....

M/S. Tirputi Plywood Product (P) Ltd. and Another Etc. Vs. the Pradesh ...

Court : Allahabad

Reported in : AIR1997All364

..... )/ 1993 before this court for quashing the auction notice, which ws issued in pursuance of the taking of possession of the factory under section 29 of the state financial corporation act. the said company also prayed for the preparation of an inventory through the commissioner, appointed by the court, of all the goods and' materials which have ..... (mb)/1991, praying for the issuance of a writ in the nature of mandamus commanding the opposite parlies not to take recourseunder section 29 of the state financial corporation act, 1951 for taking over the possession of the petitioner unit, and to allow the petitioner to deposit the amount which had already become due by way ..... as the full amount was not paid as agreed upon, the petitioner has committed default thereafter, picup issued the petitioner notice under section 29 of the state financial corporation act, on 3-10-1989.9. the notice indicalcd that the petitioner hascommitted default in observance of the term ofdeed of mortgage and a sum rs. 1 .....

M.J. Foods Industries Pvt. Ltd. Vs. Regional Provident Fund Commission ...

Court : Orissa

Reported in : IV(2005)BC294; [2005(107)FLR599]; (2006)IILLJ473Ori

..... discussions made earlier, i am of the view that under section 29 of the state financial corporations act, orissa state financial corporation has the first charge over the property and therefore on the face of such provisions contained in the state financial corporations act it is difficult to accept the contentions of the learned counsel for the provident fund ..... of an industrial unit. the said company having failed to pay the dues of the orissa state financial corporation, possession of the same was taken over by the corporation under section 29 of the state financial corporations act. thereafter the industrial unit was put to public auction on 22.12.1998 and the petitioner being ..... it for recovery of the same. when the matter stood thus the industrial unit was taken over by the financial corporation in exercise of powers under section 29 of the state financial corporations act and in public auction the petitioner purchased the same. the only question that requires to be determined is who .....

Dr. Y.B. Yalwar Vs. State of Karnataka and ors.

Court : Karnataka

Reported in : ILR1996KAR3012; 1997(1)KarLJ152

..... . as of right.7. i have considered the arguments of the learned counsel for the petitioner and the learned counsel for the corporation and also the high court government pleader. section 23 of the state financial corporations act, 1951 reads thus:'23. the financial corporation may appoint such officers, advisers, and employees as it considers necessary for the efficient performance of its functions, and determine, by regulations ..... in r.f.c. officers association v. rfc and anr., held as follows:'section 39 of the r.f.c. act, 1951 (sic state financial corporations act, 1951} further provides that the board shall be guided by such instructions on questions of policy as may be given to it by the state government. the word or phrase (policy) does not include the fixation of emoluments. the .....

Saicoir Consumer Products (P.) Ltd. Vs. Karnataka State Financial Corp ...

Court : Karnataka

Reported in : [1998]94CompCas166(Kar); ILR1998KAR2614

..... consideration for decades and as such could be declared as equitable principles while dealing with similar sales, since there are no other guidelines available under the state financial corporations act, in this behalf. under the civil procedure code, it is clearly provided that if any of the grounds pleaded for setting aside the sale were available to ..... default and a show-cause notice dated june 28, 1991, was issued to the petitioner intimating the proposal to initiate action under section 29 of the state financial corporations act, and on failure the unit was taken over on august 1, 1991. it is alleged that the sale advertisement was made in the dailies, the ..... . show-cause notice was issued to the petitioner on june 28, 1991, by the first respondent to show cause why proceedings under section 29 of the state financial corporations act should not be invoked. as the petitioner did not co-operate and discharge the arrears, on august 1, 1991, the first respondent repossessed the land, building .....

M.K. Abdu Vs. Kerala State Financial Corporation Ltd. and ors.

Court : Kerala

Reported in : [1993]76CompCas271(Ker)

..... court observed in paragraph 14 as follows (at page 810 of 70 comp cas) :' we, therefore, hold that section 29 of the state financial corporations act is not arbitrary or violative of article 14 of the constitution ...'8. in david v. kerala state financial corporation [1988] 1 klt 585, a division bench of this court had occasion to consider the validity of section 71 of the kerala ..... to the provisions of the kerala revenue recovery act and the provisions of the state financial corporations act, 1951, a central enactment, cannot be amended or altered by any state legislation. the state cannot extend the provisions of the kerala revenue recovery act for recovering monies due for transactions under exhibits p-1 and p-2. the state financial corporations act, 1951 ( hereinafter called 'the corporations act' for the sake of brevity), provides for .....

Kerala Fisheries Corporation Ltd. Vs. P.S. John and ors.

Court : Kerala

Reported in : [1997]88CompCas104(Ker)

..... years from the date fixed for repayment and consequently, initiation of proceedings are without jurisdiction. the amounts therein were due to the kerala financial corporation, an institution notified under section 71 of the act, and governed also by the state financial corporations act. the financial corporation resisted the claim of the petitioners. the learned single judge, before whom the original petitions, came up for hearing, felt that the ratio ..... barred by limitation, is not sustainable. section 32g of the state financial corporations act enables the corporation to recover its dues by resort to proceedings under the revenue recoyery act. the corporation is also a notified institution under section 71 of the act. by virtue of section 46b of the state financial corporations act, that act would override the provisions of the limitation act which is the general law. in considering whether the sick .....

there Is No Provision Under the Sidbi Act 1989 or Under the State Vs. ...

Court : Punjab and Haryana

..... to the acceptance of deposits from a local authority and other persons, deposit of funds of the financial corporation and furnishing of returns (sections 8(1).33(2) and 38 of the state financial corporation act, 1951 (for short the 1951 act).as against this, the idbi used to play and not sidbi plays some role under various provisions, ..... of india. the court held to the following effect: - 24. there is no provision under the sidbi act, 1989 or under the state financial corporation act, 1951 comparable to the provisions of sections 21 and 35a of the banking regulation act, 1949 extracted above. in the absence of any such analogous provision, it is difficult to see how the ..... the petitioners.the answer to the question that arises for our consideration does not lie in the provisions of the banking regulation act, 1949 but in the state financial corporation act, 1951 and the sidbi act both of which do not support the view that the sidbi has the power to issue any binding directions to the .....