Court : Kolkata
Reported in : AIR1959Cal679
ORDERH.K. Bose, J.1. This is an application under Section 391 of the Indian Companies Act, 1956, for sanction of a scheme of arrangement involving re-organisation of the share capital of the company. The company was incorporated in June 1945 with an authorised capital of Rs. 50 lakhs divided into 3,75,000 ordinary shares of Rs. 10 each, 10,000, 5 per cent cumulative participating preference snares of Rs. 100/- each and 50,000 deferred shares of Rs. 5 each. The total paid up capital of the company is Rs. 29,20,300 comprising of 1,89,985 ordinary shares of Rs. 10 each, 8,452 preference shares of Rs. 100 each and 35,050 deferred shares of Rs. 5 each. The company carries on the business of manufacturers, exporters and importers of radios, radiograms, gramophones, refrigerators and various electrical goods and equipments. It has its factory at Karampura in Bihar. Although the company was started with the blessings of a very rich financial and managing agents, Karamchand Thapper and Brothers...
Tag this Judgment!Court : Kolkata
Reported in : AIR1960Cal637,64CWN458
Bachawat, J.1. The appeal No. 129 of 1958 is from an order sanctioning a scheme of arrangement under Section 391 of the Indian Companies Act, 1956. The appeal Mo. 130 of 1958 is from an order confirming reduction of capital. Both these orders were passed by Bose, J. The two appeals have been heard together. This judgment is intended to cover both the appeals.2. The respondent company is a public company limited by shares. It was incorporated in 1945 under the Indian Companies Act, 1913. The appellant holds 2000 preference shares in the share capital of the company. The authorised share capital of the company is Rs. 50,00,000/- divided into 3,75,000 ordinary shares of Rs. 10/- each, 10,000 5 per cent cumulative participating preference shares of Rs. 100/- each and 50,000 deferred shares of Rs. 5/- each. The memorandum of the company states that shares have the rights, privileges and conditions attached thereto as are provided by the regulations of the company for the time being with pow...
Tag this Judgment!Court : Kolkata
Reported in : [1963]49ITR773(Cal)
G. K. MITTER J. - This is a reference under section 66(1) of the Income-tax Act at the instance of the assessee for determination of the question :'Whether, on the facts and in the circumstances of the case, the sum of Rs. 1,25,000 was assessable in the hands of the assessee under section 7(1) of the Indian Income-tax Act read with Explanation 2 thereof as it stood at the material time ?'The facts of the case given in the statement of case and the order of the Tribunal are scanty. The Tribunal is, however, not to blame in any respect for the paucity of facts. The fault, if any, lies with the assessee who, in my opinion, might, without difficulty, have put more material before the income-tax authorities. The assessee came out to India as an assistant of a firm of tea brokers by the name of W. S. Cresswell & Co. in the year 1937. The firm had three partners by the name of N. D. Gye, W. N. Batty and N. F. F. Massy, the shareholdings being 8 as. 6 p., 7 as. and 6 p. respectively. The firm ...
Tag this Judgment!Court : Kolkata
Reported in : AIR1963Cal373
ORDERP.B. Mukharji, J. 1. If France had once been the inspiration of European culture, French Chandernagore can at least sun be described as a prolific source here of Indian Constitutional law. Numerous cases have come to the Court from what used to be the French Settlement of Chandernagore and their decisions now enrich the constitutional law of India. The petitioners in this case from Chandernagorechallenge the validity of a requisition of land under Section 3(1) of the West Bengal Land (Requisition and Acquisition) Act of 1948 (West Bengal Act II of 1948). If the decayed City gates of former French Chandernagore still display the three famous ideals of the French Republic from out of the French Revolution, 'Liberte, Egalite and. Fraternite', this petition from Chandernagore, by a strange irony of fate, claims neither equality, nor fraternity with the rest of India. This petition claims that this West Bengal statute should be excluded from what was formerly known as the french Chande...
Tag this Judgment!Court : Kolkata
Reported in : AIR1963Cal629
P.B. Mukharji, J. 1. In this Reference under Section 66(2) of the Income-tax Act the High Court directed the Tribunal to refer the following question for its decision:'Whether on the facts and in the circumstances of the case the Tribunal was right in holding that the sum of Rupees forty thousand two hundred and forty seven could not be deemed to be profits of the assessee company under second proviso to Section 10(2) (vii) of the Indian Income-tax Act?'2. The assessee is Associated Clothiers Ltd. of 21, Old Court House Street, Calcutta and is a private Limited Company. It was formerly carrying on business as clothiers and dealers under the name of M/S Phelps and Company Limited. M/S Phelps and Co. started as a partnership on the 5th February, 1912 and was later converted into a Limited Company on the 30th September, 1939, On the 21st March, 1952 the name of Phelps and Company Ltd. was changed into the name of the assessee. But on the same day a new Phelps and Co. was incorporated. On ...
Tag this Judgment!Court : Kolkata
Reported in : AIR1966Cal31,(1966)ILLJ535Cal
Bose, C.J.1. This is an appeal torn an Order of B'anerjee, J. dated the 13th November 1963 quashing an award of an Industrial Tribunal and remanding the matter for rehearing by the Tribunal in accordance with the directions given in the Order. 2. The respondent Parry and Co. Ltd. carries OH business all over India as Merchants, Importers, Selling Agents and manufacturers having its Head Office in Madras. In Calcutta the principal business of the respondent Company consisted ol: various agencies for sale of products of diverse well-known companies. The respondent Company also carried on manufacturing activities on a small scale at a small Engineering Workshop at Kidderpore. In 1954 the respondent Company is alleged to have suffered losses due to decline in business and, effected retrenchment of some staff with the permission of the Labour Appellate Tribunal. 3. The case of the respondent Company is that the business was affected as a result of import restrictions and other factors. In 1...
Tag this Judgment!Court : Kolkata
Reported in : AIR1966Cal552,70CWN82
B.C. Mitra, J.1. The appellant, a Belgian national, came to India on November 23, 1947, as a Roman Catholic Missionary and discharged his duties as such, at Ranchi and Calcutta. In February, 1952, he gave up his missionary activities and commenced a secular life and held serveral posts in commercial organisations. The Department of Registration or Foreigners was informed in writing by the Jesuit Mission in Calcutta, that the appellant had ceased to be a Christian Missionary and had given up his missionary activities. The appellant came to India on a Belgian passport with a visa for his visit to India given by the Visa Section of the British Embassy at Brussels. The period of the appellant's stay in India, on the visa issued as aforesaid having expired, he applied for extension, but this was not granted. Proceedings were started against him under Section 14 of the Foreigners Act, 1946, before the Additional Chief Presidency Magistrate, Calcutta. On September 22, 1956, the appellant was ...
Tag this Judgment!Court : Kolkata
Reported in : AIR1967Cal461,(1969)ILLJ290Cal
Masud, J.1. This is an appeal against the judgment and decree dated 2nd August, 1961 whereby the plaintiff-respondent was granted a declaration that the order terminating her service was bad in law and was also awarded a decree for Rs. 30,000/- with a condition that if payment was made by the Union of India and the latter would not prefer an appeal, the plaintiff would be willing to accept Rs. 20,000 in full satisfaction of her claim. The facts of the case may be briefly stated as follows:2. The plaintiff, Srimati Jyotirmoyee Sharma by a letter in writing dated 7th June 1949, was appointed to a permanent post of Anthropologist in the Department of Anthropology on an initial salary of Rs. 440 p. m. Prior to such appointment she was already working as a temporary Anthropologist in the said department. She was selected for the new post in pursuance of an advertisement issued by the Federal Public Service Commission for recruitment of one Anthropologist in the Anthropological Survey of Ind...
Tag this Judgment!Court : Kolkata
Reported in : AIR1969Cal95
ORDERD. Basu, J.1. Common questions of law have been raised by these two petitions brought by two employees of the Durgapur Steel Plant appertaining to the Hindusthan Steel Ltd.2. In C. R. 1330, the Petitioner was the General Manager, who was appointed on 9-4-65 by the order of the President of India, which is at Annexure A, The Petitioner alleges that in the first week of July. 1967, he was verbally asked to resign by Sri Rao, Chairman of the Hindusthan Steel Ltd., (Respondent No. 4). On the 17th July, he was handed over the impugned letter at Ann. B, by the Chairman. This letter states that-(a) Government 'have decided to terminate your services ......... with effectfrom the forenoon of the 19th July, 1967'; (b) The Petitioner had, however, the option of submitting resignation, which would be readily granted; (c) The Petitioner might also terminate the contract with the Hindusthan Steel by sending a notice with a leave application before the 19th July, in which case he would be grant...
Tag this Judgment!Court : Kolkata
Reported in : AIR1969Cal312
A.N. Ray, J.1. This appeal is against the judgment and order of Sen, J., dated 10th June, 1968. The order was made on the notice of motion dated 25th April, 1968, taken out by the plaintiff inter alia for an order of injunction restraining the defendants and each one of them, their servants, agents and assigns from holding the proposed Extraordinary General Meeting of the Company on April 29, 1968, and passing any resolution thereat pursuant to the purported notice dated March 30, 1968 and the Explanatory statement annexed thereto and also injunction restraining the defendants and each one of them, their servants, agents and assigns from holding any share-holders meeting of the company pursuant to any purported notice such as or similar to the said notice dated March 30, 1968 and the purported explanatory statement annexed thereto, and further injunction restraining the defendants from giving effect to or acting upon any resolutions which may be passed in any such meeting, and injuncti...
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