Court : Supreme Court of India
Reported in : [2008]143CompCas325(SC); (2008)5CompLJ369(SC); (2007)213CTR(SC)301; [2008]297ITR176(SC); 2007(13)SCALE204; [2007]80SCL283(SC); 2007AIRSCW7443
..... view of the state of affairs of the company, merely by reason of the fact that they do not disclose-(i) in the case of an insurance company, any matters which are not required to be disclosed by the insurance act, 1938;(ii) in the case of a banking company, any matters which are not required to be disclosed by the banking companies act, 1949;(iii) in the case of a company engaged in the generation or supply of electricity, any matters which are not required to be disclosed by both the indian electricity act, 1910, and the electricity (supply) act, 1948;(iv) in the case of a company governed by any other special act for the time ..... a short question which arises for determination in this batch of civil appeals is:whether accounting standard 22 (as 22) entitled 'accounting for taxes on income' insofar as it relates to deferred taxation is inconsistent with and ultra vires the provisions of the companies act, 1956 (the companies act), the income-tax act, 1961 (i.t. ..... . thus, dtl creates a legal fiction with respect to the concepts of taxation and liability which is contrary to the legal meaning enunciated by several judgments of this court (see: state of kerala v .....
Tag this Judgment!Court : Kerala
Reported in : AIR1985Ker134
..... . high court act and of sections 3 - 5 of the kerala act, and keeping in mind the legislative history, we are of the view that 'judgment' in section 5(i) has to he understood in the sense in which it was understood by the privy council in the context of clause 39 of the letters patent, and by the supreme court in the context of article 133(1) of the constitution, and not in the sense in which it could be understood in the context of clause 15 of the letters patent ..... . this court has no ordinary original civil jurisdiction directly attracting the provisions of the civil procedure code, though in respect of matrimonial, probate, company and other matters some original jurisdiction is still there, and in respect of them, the procedure in the code may have to be followed by reason of section 141 ..... . joseph 1961 ker lt 823 this court declined to accept the contention that a judgment or order of a single judge in exercise of power under article 227 of the constitution was a judgment or order passed in exercise of original jurisdiction so as to permit of an appeal to a bench of two judges, under section 5(i) .....
Tag this Judgment!Court : Karnataka
Reported in : [1991]70CompCas86(Kar)
..... provisions of section 446 of the act, it is open to this court to adjudicate ..... this being the position and particularly when the statement of affairs has not been filed by the directors of the company whereby the actual dues to be cleared off by the directors of the company whereby the actual dues to be cleared off by the official liquidator towards workmen's wages os mpt known, this court should not permit ksfc to enforce its claim against the company (in liquidation) by standing outside the winding-up ; that, in any event, in view of section 529a of the act read with the relevant provisions of section 446 of the act read with the relevant ..... in this case, the order was made by the learned company judge in the kerala high court directing winding up the company. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2009SC2577; JT2009(13)SC560; 2009(6)SCALE677; 2009(5)LC2366(SC):2009AIRSCW4491:2009(3)LHSC1893:2009(5)AIRKarR135
..... it was contended on behalf of the state that the tahsildar being the secretary of the land tribunal should have sent the declaration filed under section 66 of the act by the three declarants, to the deputy commissioner to be dealt with under the provision of section 79b of the act, to consider the question by the registered partnership firm is valid or not; instead he proceeded to submit the report to the land tribunal which has no jurisdiction to decide the question about the lands purchased by the firm, the tahsildar should not have been merely dependant upon the certificates of the cardamom board and ..... rubber board to conclude that the ..... the declaration under section 66(4) of the karnataka land reforms act, 1961(hereinafter referred to as the `act') was filed by the three partners of the firm i.e.. ..... moideen kunhi & company. ..... : 2002(143)elt249(sc) ; special tehsildar, land acquisition, kerala v. .....
Tag this Judgment!Court : Mumbai
Reported in : [2005]123CompCas60(Bom); (2005)3CompLJ221(Bom); [2005]60SCL297(Bom)
..... mehta argued that the pending and intended prosecutions under the madras chit funds act, 1961, are of a coercive character, inasmuch as the fair object of section 391 to equally distribute the assets of the company among the creditors would be defeated and the scheme would be affected. ..... company is pending, then, notwithstanding anything contained in the companies act, 1956 (1 of 1956) or any other law or the memorandum and articles of association of the industrial company or any other instrument having effect under the said act or other law, no proceedings for the winding up of the industrial company or for execution, distress or the like against any of the properties of the industrial company or for the appointment of a receiver in respect thereof and no suit for the recovery of money or for the enforcement of any security against the industrial company or of any guarantee in respect of any loans or advance granted to the industrial company .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1992Kant123
..... licences under the karnataka pawn brokers act, 1961 and persons who are doing business as money lenders having taken licences under the karnataka money lenders act, 1961 have questioned the constitutional validity of the karnataka pawn brokers (amendment) act, 1985 and the karnataka money lenders (amendment) act, 1985 on the ground that the provisions of the said acts are violative of articles 14 and 19 of the constitution of india and they have also questioned the constitutional validity of section 4(2)(c) and section 23 (2) of the karnataka pawn brokers act, 1961 as violative ..... .'we are in respectful agreement with the view taken by the kerala high court and hold that the quantum of deposit to be made by a money lender or a pawn broker has to be computed on the basis of the actual money invested in the business and not on the basis of aggregate of the amount of loan advanced in cases where amount invested in the business has been utilised to advance loan more ..... . unless such a defect can be found, the further question of construing the provision in such a manner as to include all employees and not merely employees of public sector companies, does not arise.xx xx xx xx ..... :--'2(10) 'money lender' means (i) an individual; or(ii) an undivided hindu family; or (iii) a company or(iv) an unincorporated body of individuals: who or which,(a) carries on business of money lending in the state; or(b) has his or its principal place of such business in the state, but shall not include a bank. .....
Tag this Judgment!Court : Delhi
Reported in : ILR1985Delhi331; [1974]95ITR34(Delhi)
..... part of the assessment records was removed ..... of law requiring the production of certain records of assessment relating to an assessed that the scope of the power of the court under the general law for summoning the relevant record was entirely different from the scope of the power of the commissioner of income-tax under the aforesaid clause; and that the repeal of section 137 of the act of 1961 clearly indicated that the legislature thought that it was no more necessary to keep the records of assessment by the income-tax department relating to an assessed as confidential, and the bar with regard to the production of any ..... by a letter, dated january 4, 1973, the income-tax officer, companies' circle-viii, new delhi, claimed privilege under section 138 of the income-tax act, 1961. .....
Tag this Judgment!Court : Karnataka
Reported in : ILR1991KAR1928; 1992(1)KarLJ1
..... the learned counsel distinguished the judgment of the kerala high court on the ground that the provision of section 16a of the kerala money lenders act was held to be unconstitutional for the reason that there was no provision for utilising the amount forfeited to give relief to the affected borrowers and therefore it was regarded as unconstitutional, but in the present case the money forfeited is required to be distributed among the borrowers who are required to be compensated and therefore the provisions cannot be regarded as violative of articles 14 and 19 of the constitution.12. ..... 1961 and persons who are doing business as money lenders having taken licences under the karnataka money lenders act, 1961 have questioned the constitutional validity of the karnataka pawn brokers (amendment) act, 1985 and the karnataka money lenders (amendment) act, 1985 on the ground that the provisions of the said acts are violative of articles 14 and 19 of the constitution of india and they have also questioned the constitutional validity of section 4(2)(c) and section 23(2) of the karnataka pawn brokers act, 1961 as volatile of articles 14 and 19 of the constitution.2. ..... it reads:-'2(10) 'money lender' means(i) an individual; or(ii) an undivided hindu family; or(iii) a company or(iv) an unincorporated body of individuals; who or which,(a) carries on business of money lending in the state: or(b) has his or its principle place of such business in the state, but shall not include a bank. .....
Tag this Judgment!Court : Delhi
Reported in : 167(2010)DLT123
..... 532/2009, the complaint has been filed under section 212(7) of companies act for contravention of section 212 read with schedule vi of companies act on the ground that during the course of inspection by deputy registrar of companies, it was found that it its balance sheet for the period ending 31st march, 2002, the company had not made proper disclosure in terms of schedule vi of companies act since the company had given collateral security pursuant to order of this court attaching its bank account to the extent of rs. ..... in the case before kerala high court, a complaint was filed on october, 24, 2001 under section 628 of companies act, 1956 alleging fictitious entries in the books of accounts and balance sheet of a company for the period 1995-1996. ..... the division bench of madras high court specifically held that registrar of chits was a person aggrieved within the meaning of section 469(1)(b) of the code, and therefore, was competent to initiate prosecution for an offence punishable in tamil nadu chits funds act, 1961.11. .....
Tag this Judgment!Court : Kerala
Reported in : AIR1993Ker142
..... respondent issued notice calling upon the petitioners to file returns under section 7(1) of the kerala building tax act in respect of the buildings. ..... authority may, at any time within three years from the date of an order passed by it on appeal or revision, as the case may be, and the assessing authority may, at any time within three years from the date of any assessment or order passed by it, of its own motion, rectify any mistake apparent from the record of the appeal, revision, assessment or order, as the case may be, and shall, within the like period, rectify any such mistake which has been brought to its notice ..... section 6(1) states that for determining the capital value for the purpose of the act the annual value of the building shall be the annual value fixed for that building in the assessment books of the local authority. ..... income-tax officer, 1961 (2) scr 241 : (air 1961 sc 372), the supreme court held:'the high courts have ample powers under article 226 of the constitution, and are in duty bound thereunder, to issue such appropriate orders or directions as are necessary in order to prevent persons from being subjectedto lengthy proceedings and unnecessary harassments by an executive authority acting without jurisdiction. ..... in calcutta discount company v. .....
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