Judgment Search Results Home > Cases Phrase: the registration orissa amendment act 1989 Court: company law board clb Page 1 of about 126 results (0.176 seconds)

Dr. G.N. Byra Reddy and ors. Vs. Arathi Cine Enterprises Pvt. Ltd.

Court : Company Law Board CLB

Reported in : (1997)89CompCas745

..... the other argument is that under section 155 of the act before amendment in 1988, courts have held that the period of limitation in respect of applications under section 155 was three years and, therefore, even assuming that the limitation act is not applicable to proceedings before the company law board and if a right to sue had become barred by the provisions of the limitation act then in force on the date of a new act or amendment, such a barred right is not revived by application of a new enactment. ..... 5 was one of the signatories to the resolution regarding the registration of the transfer on february 24, 1986. ..... m.kandappa gounder [1951] air 1951 mad 314 (head note) : "if a right to sue had become barred by the provisions of the limitation act then in force on the date of the coming into force of a new act or amendment then such a barred right is not revived by the application of the new enactment. ..... in regard to the second limb of the argument that the right to sue had become time barred as early as in 1989 at which time the high courts had jurisdiction in matters relating to section 111, the petitioner had contended that they became aware of the impugned transfers only in march 16, 1992, after the judgment of the karnataka high court. ..... ) before 1989. .....

C.H. Joshi Vs. Bombay Papers Ltd.

Court : Company Law Board CLB

Reported in : (1991)72CompCas173

..... on or about march 9, 1988, the appellant, by his letter to the respondent-company, once again requested the company to register the transfer of shares and make necessary endorsement in the said share certificate in his favour.according to the appellant, the respondent-company has failed to comply with the provisions of the companies act and had neither conveyed refusal to register the transfer of shares nor sent any communication as regards the transfer lodged in spite of the statutory duty on the respondent-company to take a decision regarding registration of transfer of shares within two ..... there are no such inherent powers available to the company law board under the present section 111 of the companies act as the amended section as per the 1988 amendment has not yet come into operation. ..... a notice was issued to the company on august 11, 1989, to file their reply in the matter and two reminders were issued on june 16, 1990, and july 10, 1990. ..... orissa textile mills (appeal no. .....

Canara Bank Vs. Nuclear Power Corporation of

Court : Company Law Board CLB

Reported in : (1995)84CompCas62

..... we have now gone into the question of applicability of the relevant provisions of the special court (trial of offences relating to transactions in securities) amendment act, 1994 (act 24 of 1994), as assented to on march 28, 1994. ..... we, therefore, hold that the special court amendment act, 1994, does not apply to the proceedings before us and that our jurisdiction and powers to deal with matters relating to securities as provided in the companies act, 1956, continue to remain with us. ..... the amendment act, however, does not intend to disturb the proceedings before the company law board as it will not in any way in conflict with the objective of amendment. ..... cooper has submitted that the decision of the company law board (western region bench) in carbon corporation of india's case [1992] 73 comp cas 572 which again has been decided in the context of applicability of the limitation act.similarly, the question whether a tribunal is a court or not has been decided by the supreme court with reference to the commission of inquiry act, the evidence act, the contempt of court act, the income-tax act, etc. ..... the petition relates to non-registration by nuclear power corporation of india ltd. ..... lentin, air 1988 sc 2267 ; [1989] 176 itr 1, has cited the same court's judgment in jagannath prasad v. ..... lentin [1989] 176 itr 1 ; air 1988 sc 2267, to state that the apex court has laid down certain tests regarding what a court is. .....

Abn Amro Bank Vs. Indian Railway Finance

Court : Company Law Board CLB

Reported in : (1996)85CompCas689

..... we have now gone into the question of applicability of the relevant provisions of the special court (trial of offences relating to transactions in securities) amendment act, 1994 (act 24 of 1994), as assented to on march 28, ..... we, therefore, hold that the special court amendment act, 1994, does not apply to the proceedings before us and that our jurisdiction and powers to deal with matters relating to securities as provided in the companies act, 1956, continue to remain ..... the amendment act, however, does not intend to disturb the proceedings before the company law board as it will not in any way conflict with the objective of amendment ..... a petition under section 111 of the companies act, 1956, filed on february 10, 1993, by the abn amro bank (hereinafter called "amro bank") a banking company incorporated under the laws of the netherlands having a branch office at dlf centre, new delhi-1.subsequently, on april 13, 1993, an application for amendment of the petition under regulations 44 and 46 of the company law board regulations, 1991, was filed, on the plea that these amendments were necessary for the purpose of determining the real questions in controversy between the parties. ..... irfc bonds covered in the petition and deliver the securities in its possession to scb after due registration.irfc shall also pay all arrears of interest due on these bonds.consequently, the interim order with regard to the deposit of interest stands vacated and the fd along with interest shall also be paid .....

T. Balan Vs. Unicentre Agencies and Engg. (P.) Ltd.

Court : Company Law Board CLB Chennai

..... unicentre agencies and engineering private limited (the company) aggrieved on account of certain acts of oppression and mis-management in the affairs of the company, at the hands of the respondents 2 to 5, have invoked the jurisdiction of the company law board under sections 397, 398 and 402 of the companies act, 1956 (the act), claiming the following reliefs: (a) to pass appropriate orders for the management, regulation and conduct of the affairs of the company; (b) to supersede the present board of directors of the company and appoint an administrator to manage, regulate and conduct the affairs of the company. ..... the board of directors at its meeting held on 15-5-1989 decided to acquire the properties for commencement of manufacturing facilities by way of future diversification of business of the company and authorised the second respondent to execute necessary documents for the purpose of registration of the sale deed in respect of the properties on behalf of the company. .....

Beml Ltd. Vs. Beml Midwest Ltd.

Court : Company Law Board CLB Chennai

..... , in view of their inability to discharge the duties under the act; (b) to allow the nominee directors of the petitioner to run the day-to-day affairs of the company including operation of bank account till disposal of the petition; (c) to disqualify and remove the respondents 3 to 5 who are the nominees of the second respondent on the board of company on account of various wilful mismanagement of the affairs of the company, resulting in financial losses, threatening the very existence of the company, and without prejudice to their personal liability to make good the losses; (d) to direct the auditors to commence audit of accounts ..... the related party transactions, said to have been suppressed by the respondents 2 to 5, as elaborated in paras 40.4 and 40.5, throwing light on the conduct of the parties concerned, cannot be disallowed, by declining amendment of the pleadings, in view of the equitable and, therefore, discretionary character of the clbs jurisdiction under section 397/398 of the act, to adjudicate the complaint of the petitioner, as made in the main petition. ..... the board of directors of the petitioner-company at the meeting held on 29-4-1989 approved delegation and sub-delegation of powers, according to which (serial no. .....

T. Ramesh U. Pai and ors. Vs. the Canara Land Investments

Court : Company Law Board CLB

Reported in : (2005)123CompCas869

..... ("the act") against m/s the canara land investments limited: ("the company") and others alleging that the affairs of the company are being conducted in a manner prejudicial to the interests of the petitioners and seeking the following reliefs: - * to appoint an auditor to investigate into the conduct of the respondents 2 to 7 and surcharge them for diversion and siphoning of the funds of the company and for the loss suffered oh account of leasing out the fixed assets of the company for meagre amount; * to amend the articles of association of the company providing proportionate representation for the holding of the petitioners in the ..... the clb ultimately dismissed the said reference on 05.07.1999 setting aside the resolution of the board of directors of the company refusing registration of the transfer in the name of the petitioners and further directed the company to register the shares in favour of the petitioners, against which the company preferred an appeal before the division bench of high court of karnataka. ..... the company, instead of registering the transfer of these shares, made a reference before the company law board under section 22a(4)(c) of the securities contracts (regulation) act, 1956 for confirmation of the decision of the board of directors of the company to refuse registration of the transfer. .....

K.N. Bhargava and ors. Vs. Trackparts of India Ltd. and ors.

Court : Company Law Board CLB

Reported in : (2001)104CompCas611

..... that nearly 80 per cent, of the shares are held by the family members and that all the family shareholders have pledged their shares for raising funds for the company and as per the family agreement 'dated march 23, 1991, the articles of association of the company were amended to ensure participation of both the groups in the management of the company with certain matters to be decided by affirmative votes by b6th the groups.in this connection, he relied on the decision of the company law board in vijay krishan ..... to vls finance, learned counsel pointed out that when vls finance to which the shares had been pledged, lodged the transfer instruments seeking registration, the company was legally bound to transfer the shares and the same was not with a view to reduce the majority shareholding of the respondents.9. ..... the company filed a civil suit against the banks for acting on the resolution in the alleged meeting held by the respondent and the civil court had allowed the operation of the bank accounts by the ..... accordingly, in exercise of our powers under section 402 of the act, we direct as follows ; presently, the petitioners are managing the forge division and the respondents the other two divisions in kanpur and this arrangement came into existence ..... trackparts of india limited ("the company") in the affairs of which this petition under section 397/398 of the companies act, 1956 ("the act"), alleging acts of oppression and mismanagement in the affairs of the company have been filed, .....

Shri Raj Kumar Gupta and ors. Vs. Banaras Beads Limited and ors.

Court : Company Law Board CLB

..... in terms of that order, the son of the 2^nd petitioner shri prasant appeared before me and submitted that he had no objection to the registration of transfer of the shares held in his name in favour of m/s prashant glass works private ltd. ..... in the hearing on 5.5.2005, since the 2^nd respondent had filed the details as per the earlier order, to substantiate the same, i directed him to file certified copies of the annual returns for the years 1989-90 to 1997-98 and also the returns filed in respect of the trust. ..... during the pendency of the proceedings, it came to light that the high court dismissed the petition filed under sections 391/394 of the act on the ground that the general meeting which approved the de-merger has not been properly conducted. ..... (7) within 30 days from the date of this order, all the shares involved in cps.14/111, 15/111 of 1999 and 1/111 of 2001 shall be registered in the name of the petitioners therein without any further act or deed. ..... he has his own independent grievances that the company had declined to register the transfer of certain shares in favour of his group, and his group has independently filed 3 petitions under sections 111 of the act. ..... without any further act or deed by either the 2^nd petitioner or by shri prashant. ..... the company became a deemed public company in terms of section 43(a)(1) of the act and was converted into a public company in october, 1994. .....

Aes Opgc Holding (Mauritius) and Vs. Orissa Power Generation

Court : Company Law Board CLB

Reported in : (2005)125CompCas299

..... shri sarkar appearing for the petitioners submitted: the petitioners invested a huge amount of money paying a substantial control premium to acquire 49% shares in the company on the assurance of the 2nd respondent, namely, the government of orissa, that the strategic partner would have absolute control over the management of the company.however, the 3rd to 5th respondents who are the nominees of the government of orissa have gained the complete control of the company and have been acting against the interest of the company in breach of their fiduciary duties. ..... while according to the managing director, he took the decision as a part of his day to day functions and in the interest of the company, the stand of the nominees of the 2nd respondent was that shutting down the power plant was not within the day to day functions of the managing director and the said decision is also against the interest of the company.article 25 dealing with the powers of the managing director reads- "the managing director shall be in charge of all day to day affairs of the company and shall act under the superintendence of the board". ..... before the amendment to the articles, article 28 provided that the, "managing director be entitled to the management of the whole of the affairs of the company, and shall exercise his powers subject to the superintendence, control and direction of the board. ..... merhotra (1989) 59 comp cas 854 (all). .....