Court : Supreme Court of India
Reported in : AIR1981SC1298; (1982)1CompLJ1(SC); 1981(2)SCALE959; (1981)3SCC333; [1981]3SCR698
..... that sanders never used to attend the meetings of the board, being a non-resident he was not entitled to have notice of the board meetings, that there was no violation of section 81 of the companies act at all, that section 81(c) of the companies act did not apply to the present case and that, in view of the attitude adopted by coats, niil, in order to comply with the restrictions imposed by the reserve bank and ..... 32, 38 and 50 and they read thus :article 11 : in order that the company may be a private company within the meaning of the indian companies act, 1913, the following provisions shall have effect, namely :(i) no invitation shall be issued to the public to subscribe for any shares, debentures, or debenture stock of ..... was a private company as defined in section 3(1)(iii) of that act since, by its articles of association, it restricted the right to transfer its shares, limited the number of its members to fifty and prohibited any invitation to the public to subscribe ..... seervai to this contention flows from what truly is the sheet anchor of his argument, namely, that the definitions of 'public company' and 'private company' are mutually exclusive and between them, they are exhaustive of ..... mackrael stated at the meeting that the price in rupees could be matched but not the method of payment which was illegal and reiterated that the holding company would prevent any attempt ..... with four out of the six directors of the holding company, namely newey, jackson, white-house and raeburn. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1970SC564; [1970]40CompCas325(SC); (1970)1SCC248; [1970]3SCR530
..... in 1942, the indian companies act, 1913 was amended by act 21 of 1942 and it will appear from the statement of objects and reasons there that the definition of banking companies in section 277f of the indian companies act created difficulties in deciding whether a company was a banking company or not. ..... the business which the named banks carried on was--(1) the business of banking as denned in section 5(b) of the banking regulation act, 1949, and business incidental thereto; and (2) other business which by virtue of section 6(1) they were not prohibited from carrying on, though not part of or incidental to the business of banking. ..... the named banks are declared entitled to engage in business other than banking: but they have no assets with which that business may be carried on, and since they are prohibited from carrying on banking business, by virtue of section 7 of the reserve bank of india act, they cannot use in their title the words 'bank' or 'banking', and even engage in 'non-banking business' in their old names. ..... but the petitioner is on a firm ground in contending that when after acquiring the assets, undertaking, organization, goodwill and the names of the named banks they are prohibited from carrying on banking business, whereas other banks--indian as well as foreign--are permitted to carry on banking business, a flagrantly hostile discrimination is practised. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2007(4)ALD137; 2007(4)ALT348; AIR2007NOC2064(FB)(AP)
..... sri vilas afzulpurkar, learned senior counsel for the appellant-tenants, would submit that, as the definition of a 'tenant', under section 2(ix) of act 15 of 1960, includes a person who continues in possession after termination of the tenancy and since, under section 10(1), a tenant shall not be evicted whether in execution of a decree or otherwise except in accordance with the provisions of sections 10, 12 or 13 of act 15 of 1960, the question, whether the amended section 32(c) is applicable, has to be determined with reference to the date on which the decree is executed and, as prior ..... section 10(1) of act 15 of 1960 is in pari materia with section 10(1) of the tamilnadu buildings (lease and rent control) act, 1960 and similar to section 13(1) of the east punjab urban rent restrictions act, 1949, all of which prohibit eviction of a tenant, in execution of a decree or otherwise, except in accordance with the provisions of the act. ..... a constitution bench of the supreme court in shamsunder's case (supra), considered the effect of the amendment made to section 15 of the punjab pre-emption act 1913 by haryana act 10 of 1995 by substituting section 15 with a new provision. ..... similarity between one case and another is not enough because even a single significant detail may alter the entire aspect, in deciding such cases, one should avoid the temptation to decide cases (as said by cardozo) by matching the colour of one case against the colour of another. .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1968Bom400; (1967)69BOMLR808; 1968CriLJ1584
..... the house of lords was dealing with english law, discretion in the court to reject such evidence was recognised, though it is doubtful if under the indian evidence act, any evidence if relevant and satisfied the condition laid down in the various sections, the court could possibly exclude it only on the ground that it may deepen suspicion against the accused was of cheating by falsely representing to the complainant that ..... out the evidence as being inadmissible, holding that there was no connecting link between the prior acts and the acts with which they were charged, and therefore, they were not similar occurrences, and that section 14 was not applicable as the evidence of subsequent occurrence did not show state of mind ..... of other crimes does not render it inadmissible if it be relevant to an issue before the jury, and it may be so relevant if it bears upon the question whether the acts alleged to constitute the crime charged in the indictment were designed or accidental, or to rebut a defence which would otherwise be open to the accused'.their lordships approved of the decision in reg. v. ..... lord acquith:'if you are bidden to treat an imaginary state of affairs as real, you must surely, unless prohibited from doing so, also imagine as real the consequences and incidents which, if the putative state of affairs had in fact existed, must inevitably have flowed from or ..... 2(f) gives inclusive definition of 'vessel' made for ..... doctrine developed in week's case, (1913) 232 us 38. ..... 1913 .....
Tag this Judgment!Court : Chennai
Reported in : 2008BusLR908; 2009(1)CTC227; (2008)8MLJ261
..... not illegal in the sense of being forbidden by law, and thereafter a primary agreement of wager is void but a collateral agreement is enforceable; (3) there was a conflict on the question whether the second part of section 18 of the gaming act, 1845, would cover a case for the recovery of money or valuable thing alleged to be won upon any wager under a substituted contract between the same parties: the house of lords in hill's case (1921 ..... rate swaps, forward rate agreements, foreign currency swaps, foreign currency-rupee swaps, foreign currency options, foreign currency-rupee options or such other instruments as may be specified by the bank from time to time.section 45v(1) declared that all transactions in derivatives as may be specified by the reserve bank shall be valid if one of the parties to the transaction is the reserve bank or a scheduled bank or an ..... are -(a) traded on a recognised stock exchange;(b) settled on the clearing house of the recognised stock exchange, in accordance with the rules and bye laws of such stock exchange.the definition of the word 'derivative' was also incorporated in section 2(ac) of the securities contracts (regulation) act, 1956, by the aforesaid amendment. ..... any such tendency, it is for the legislature to make a law prohibiting such contracts and declaring them illegal and not for this court to resort ..... to the plaintiff, unless there was any matching import/export obligation, the deal ceased to ..... of commerce at hapur, which was established in 1913. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2001SC1560; JT2000(6)SC1; 1999(4)SCALE332; (2000)9SCC572
..... -state river or river valley; (ii) the interpretation of the terms of any agreement relating to the use, distribution or control of such waters or the implementation of such agreement; or(iii) the levy of any water rate in contravention of the prohibition contained in section 7'.section 3 of the act states that if it appears to the government of any state that the water dispute with the government of another state of the nature stated therein, has arisen or is likely to arise, the state government may request ..... 'ble court.after mentioning the history of the earlier water disputes between the riparian states which were adjudicated upon by the krishna waters disputes tribunal (hereinafter referred to as 'the kwdt') constituted under section 4 of the disputes act by the central government and also after reciting the substance of the decision rendered by the said tribunal, the grievances voiced in that suit in the light of the post-award developments are high-lighted ..... the dispute pertaining to water in order to be subject, however, to section 11 must relate to use, distribution and control by reason of the definition section itself, since the same has specifically used the expression use, distribution and control of waters in any river. ..... there is no point of dispute that the total available water in the krishna river system cannot match with the demands as raised or claims asserted.119. ..... the secretary of state - lr 15 ind app186(ii) law report 25 indian appeals at 107-08(iii) 1913 vol. .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1962Guj88; (1962)0GLR204
..... earlier case of 1899 ac 580, (supra) where the privy council held section 4 of the 'british columbian coal mins regulation act, 1890 ultra vires the provincial legislature on the ground that though the act, regarded merely as a coal working regulation would come within section 92, sub-section (10) or sub-section (13) of the british north america act, its exclusive application to chinamen, whowere aliens or naturalized subjects established a statutory prohibition which is within the executive authority of the dominion parliament conferred by ..... according to one of which they appear to fall within the subjects assigned to the provincial parliament by section 92 of the british north america act, whilst according to the other, they clearly belong to the class of subjects exclusively assigned to the pominion legislature under section 92 subsection (25), the whole pith and substance of the enactment of sec- 4, the impugned section, consisted in establishing a statutory prohibition which affected aliens or naturalized subjects and therefore trenched upon the exclusive authority of ..... the definition of 'university' in section 2 (f) of this act applies to the gujarat university constituted under the impugned act ..... is not an institution established, managed or maintained by the university but is a private institution established and administered by xavier kelavani mandal private limited, a private limited company, registered at rajkot under the provisions of the indian companies act vii of 1913. .....
Tag this Judgment!Court : Kerala
Reported in : AIR1962Ker267
..... (s) air 1957 sc 297 where certain sections of the madras prohibition act -- act x/1937 were challenged, as being void inasmuch as they are repugnant to the provisions of the indian laws with respect to the same matter namely, indian evidence act -- act 1/1872 and criminal procedure code -- act v/1898. mr. ..... the learned chief jus-tice states at page 25 that the subjects dealt with in the three legislative lists are not always set out with scientific definition and that it would be practically impossible for example to define each item in the provincial list in such a way as to make it exclusive of every other item in that list, and that parliament was content to take a ..... section 5(1) (d) defines: ' 'company' means any company which may be wound up under the indian companies act 1913 ..... chapter 25, after dealing with the previsions of the indian companies act 1913 in its relation to banking companies, the report states in paragraph 670 that the general opinion is that the indian companies act 1913 touches only the fringe of the problem of banking legislation and that'there should be some legislative control over the operations of banking institutions which at present stand almost exclusively outside the purview of the indian companies act. ..... the learned counsel has adverted to the provisions of the indian companies act, 1913 relating to banks and also the various subsequent enactments passed on the basis of the re-commendations contained in the report of the indian central banking .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2009(4)BomCR774; JT2008(9)SC551; 2008(11)SCALE391; (2008)9SCC720; 2008(2)LC1155(SC); 2008(6)Supreme89
..... held that the provisions of the bombay rents, hotel and lodging house rates control act, 1947 ('1947 act') relating to the determination and fixation of standard rent on account of inflation and price rise could no longer be considered to be reasonable and, therefore, provisions in the bombay rent act, namely, section 5, 18 and 19 dealing with the definitions of 'standard rent' and prohibition and receipt of premium were liable to be struck down as unreasonable and arbitrary. ..... and registered under any of the previous companies laws specified below: (a) any act or acts relating to companies in force before the indian companies act, 1866 (10 of 1866) and repealed by the act; (b) the indian companies act, 1866 (10 of 1866); (c) the indian companies act, 1882 (6 of 1882); (d) the indian companies act, 1913 (7 of 1933); (e) the registration of transferred companies ordinance 1942 (54 of 1942); and (f) any law corresponding to any of the acts or the ordinance aforesaid and in force- (1) in the merged territories or ..... in a part b state (other than the state of jammu and kashmir), or any part thereof, before the extension thereto of the indian companies act, 1913 (7 of 1913); or(2) in the state of jammu and kashmir, or any part thereof, before the commencement of the jammu and kashmir (extension of laws) act, 1956 (62 of 1956), in so far as banking, insurance and financial corporations are concerned, and before the commencement of the central laws (extension to jammu and .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1957SC699; (1957)59BOMLR945; (1957)35MysLJ(SC)283; [1957]1SCR874
..... numerous examples of other transactions may be given, such as the sale of a forged passport, or, the sale of counterfeit money, which provoke the same comment and, although legislation prohibiting such transactions may, possibly, be thought to be legally justifiable pursuant to what has, on occasions, been referred to as a 'police power', i prefer to think that the subjects of such transactions are not, on any view, the ..... it was further ordered that the state of bombay, its servants and agents, do forbear from enforcing or taking any steps in enforcement, implementation, furtherance or pursuance of any of the provisions of the impugned act and the 1952 rules made thereunder and particularly from enforcing any of the penal provisions against the petitioners, their directors, officers, servants or agents and that the state of bombay, its servants and ..... judged on its own facts and in its own setting of time and circumstances, and that it might be that in regard to some economic activities and at some stage of social development it might be maintained that prohibition with a view to state monopoly was the only practical and reasonable manner of regulation, and that inter-state trade, commerce and intercourse thus ..... on the language used in the definition section of the 1939 act as well as in the 1948 act, as originally enacted, there could be no doubt that each of the five kinds of prize competitions included in the first category to each of which the qualifying clause applied was ..... [1913] .....
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