Court : Supreme Court of India
Reported in : AIR1985SC1416; (1985)87BOMLR563; (1985)3CompLJ45(SC); [1985(51)FLR362]; (1985)IILLJ206SC; 1985(2)SCALE133; (1985)3SCC398; [1985]Supp2SCR131; 1985(2)SLJ145(SC)
..... economic and political), freedom (not only of thought, expression, belief, faith and worship, but also of association, movement, vocation or occupation as well as of acquisition and possession of reasonable property), of equality (of status and of opportunity, which imply absence of unreasonable or unfair discrimination between individuals, groups and classes), and of ..... followed by another inquiry thereafter. such is not the requirement of the principles of natural justice. law may or may not prescribe such a course.in associated cement companies ltd. v. t.c. shrivastava and ors. : (1984)iillj105sc : 369, this court held that 'neither under the ordinary law of the land nor ..... president of the said board of commissioners, to remove or dismiss any person holding any office, employment or commission, civil or military, under the said company in india, and to vacate any appointment or commission of any person to any such office or employment.' section 75 provided that nothing contained in that .....
Tag this Judgment!Court : Delhi
Reported in : [1989]65CompCas525(Delhi)
..... act, and that also relation to 'monopoly' or 'monopolistic and restrictive trade practices' and the act is not concerned with the internal working of a company. 32. many other cases were cited before us suggesting that precise grounds had to exist (as in cases of preventive detention) and also urging that article ..... cannot be used for the adoption of a different economic system, i.e., to introduce a principle of equitable distribution of the share capital of a company through the back door. it is, thereforee, necessary to again emphasise the preliminary requirements for applying section 27. the central government's opinion must be ..... manufacturing textiles and chemicals and the second and third petitioners are shareholders of the first petitioner. the first petitioner is hereinafter referred to as the company. originally, the petitioner company appears to have been engaged only in the business of manufacturing textiles at its factory in gwalior, but in 1955, it obtained an industrial license .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Pune
Reported in : (1986)15ITD591(Pune.)
..... not be charged. the ito for the detailed reasons given held that there was no evidence to show that the assessee had cultivated the lands under acquisition for the agricultural purposes. he, therefore, proceeded to compute capital gain from the compensation received. the ito also brought to tax income from other ..... is a large difference between a local authority like gram panchayat or municipal committee and the present assessees. he compared the present assessees with a limited company or a village co-operative society. he stated that historically, the original settlors or gaocares established themselves into the various communidades in respect of villages ..... it is not uncommon to see railways and other big establishments opening health centres, co-operative societies having cattle breeding farm, agricultural centres, an industrial company laying down the roads and so on. these works are undertaken by the establishment for facilitating their own working and in the process such activities may .....
Tag this Judgment!Court : Mumbai
Reported in : [1987]61CompCas548(Bom)
..... decision of justice pennycuick reported in [1968] 1 ch 455 (in re thomas gerrard and son ltd.), where the managing director of a company falsified the company's books by three methods : (i) causing half-yearly stock valuation to be inflated; (ii) causing the price payable on purchases ..... this paper and had made an endorsement to the following effect :'substantial increase in prices during the year-main reason given by the company.'63. the note reads as under :gross profit percentage----------------------------------------------------------------------1973-74 1972-73----------------------------------------------------------------------sales 1,85,02,990 1,10,33,512------------ ..... reports. auditing primarily involves testing the reliability, competency and adequacy of evidence in support of monetary transactions. the main objective of the company audit is to conduct an independent review of the financial statements and offer an opinion about their reliability in representing the organisation's .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1986SC1370; [1986]59CompCas548(SC); (1986)1CompLJ91(SC); 1986(8)ECC189; 1985(2)SCALE1289; (1986)1SCC264; [1985]Supp3SCR909
..... reserve bank to detect the several illegalities committed and to prevent the circumvention of the one per cent limit imposed by the scheme for acquisition of shares by any single non-resident individual or company.46. to none of these letters did the reserve bank of india deign a reply or even the courtesy of an acknowledgement. though ..... bank of india, were clearly indicative of the imperative nature of the need for previous permission. it was submitted that whatever argument was possible in regard to the acquisition of shares it was clear that no activity of the nature mentioned in section 29(1)(a) could be commenced without the previous permission of the reserve bank. ..... the principal object of section 29 is to regulate and not altogether to ban the carrying on in india of the activity contemplated by clause (a) and the acquisition of an undertaking or shares in india of the character mentioned in clause (b). the ultimate object is to attract and regulate the flow of foreign exchange into .....
Tag this Judgment!Court : Delhi
Reported in : [1987]61CompCas153(Delhi); [1987(54)FLR261]; (1986)IILLJ354Del
..... the public sector and determine its true role and importance as also the scheme and some of the provisions of the banking regulation act, 1949, the banking companies (acquisition and transfer of undertakings) act, 1970, and the relevant service regulations applicable to the petitioner. 16. freedom from foreign domination was a legitimate goal of the ..... deemed to be the regulations made under the act and shall have effect accordingly. 19. in exercise of the powers conferred by section 19 of the banking companies (acquisition and transfer of undertakings) act, 1970, the board of directors made in consultation with the reserve bank of india and with the previous sanction of the ..... common case that the regulations are made in exercise of powers conferred by section 19 read with sub-section (2) of section 12 of the banking companies (acquisition and transfer of undertakings) act by the board in consultation with the reserve bank of india and with the previous sanction of the central government. the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1986SC1272; (1986)88BOMLR432; 1986(1)SCALE681; 1986Supp(1)SCC401; [1986]1SCR731; 1986(2)LC319(SC)
..... in council the whole civil and military government of the presidency of bengal as also the government of the territorial acquisitions and revenues in bengal, bihar and orissa which were dewany lands. by the east india company act, 1780, the governor-general in council was empowered to frame regulations for the 'provincial courts and councils ..... or rather exacted, the dewany of bengal, bihar and orissa from the titular mogul emperor shah alam in delhi. in this delegated capacity, the east india company derived its title to administer the revenue and civil affairs of these provinces, and for this purpose it established in bengal, bihar and orissa, civil and revenue ..... justice fostered by the common law in england.38. governor aungier also established an inferior court of justice consisting of a civil officer of the london company assisted by indian officers with jurisdiction to try all . disputes under 200 xeraphins. appeals from the decision of the inferior court lay to the superior court .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1986SC1571; (1986)3CompLJ1(SC); 1986LabIC1312; (1986)IILLJ171SC; 1986(1)SCALE799; (1986)3SCC156; [1986]2SCR278; 1986(2)SLJ320(SC)
..... the central sector is estimated at rs. 10.40 crores. bulk of the allocation was for the scheme of central inland water transport corporation (ciwtc) for acquisition of vessels, development of rajabagan dockyard, creation of infrastructural facilities etc.the annual report 1984-85 of the government of india, ministry of shipping and transport, ..... act, the right, title, interest and liabilities of the said company which had become vested in the central government, instead of continuing so to vest in ..... 54. the right, title and interest of the burmah shell oil storage and distributing company of india limited in relation to its undertakings in india were transferred to and vested in the central government under section 3 of the burmah shell (acquisition of undertakings in india) act, 1976. thereafter, under section 7 of the said .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1986SC825; 1986(1)SCALE1099; (1986)2SCC594; [1986]2SCR409; 1986(2)LC371(SC)
..... commissioner. so, in his note to the excise minister he stated : there is hardly any data on record either regarding the credit worthiness of the individuals/firms companies recommended by the excise commissioner or their capabilities to undertake a job of the magnitude and the proportions in question. no information is also forthcoming on the infrastructural facilities ..... , it does not explain why then the ten other applications of sarangadharan were rejected, nor does it explain why the application of the mysore sugar company (a public sector undertaking) was rejected on the ground that it was connected with the liquor trade despite the fact that this ..... company, like sarangadharan, had voluntarily bottled the arrack supplied or sold by it in previous years. to add to it, the mysore sugar company was also a public sector undertaking. 7. we gather from the counter affidavit filed on behalf .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1987Guj113; (1987)1GLR437
..... as 'the banking companies act'). both the state government and the bank were acting in the best interest of the public. but, at ..... and original plaintiff) also extended its help to the mill company mainly wit a view to extricate it out of a difficult situation. the central bank of india (hereinafter referred to as 'the bank') stood nationalised as per the provisions of the banking companies (acquisition and transfer of undertakings) act, 1970 (hereinafter referred to ..... after recording evidence and after trial, ultimately on october 29, 1982, the city civil court, ahmedabad, decreed the suit in its entirety against the mill company, private individuals, i.e., the erstwhile directors and others who had stood as guarantors for the dues of the bank and against the national textile corporation .....
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