Search Results for "Section 537 Companies Act"

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Search Results for "Section 537 Companies Act"

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Supreme Court

"Supreme Court Affirms Need for Minority Establishment in AMU’s Minority Status Dispute" AMU’s Minority Status Under Scrutiny: Establishment by Legislature Versus Minority Founding Rights

8 Nov 2024

The Supreme Court judgment in Aligarh Muslim University v. Naresh Agarwal & Ors. primarily deals with the issue of minority rights in education, f...

High Court

Bombay High Court Allows Interim Application Seeking Ratification of Sale Under Section 536(2) of Companies Act, 1956 — Court Ratifies Sale of Property by Company in Liquidation to Bona Fide Purchaser for Value Without Notice of Winding Up Petition.

10 Jun 2024

The Bombay High Court allowed an interim application filed by the applicant seeking a declaration that the sale agreement dated 5th September 2007 was...

High Court

High Court Permits Official Liquidator to Break Open Lock and Take Physical Possession of Company Premises Despite Collusive Tenancy Decrees Obtained After Winding Up Without Leave Under Section 446 Companies Act, 1956. The court held that decrees obtained without leave under Section 446 are void and the Official Liquidator is entitled to possession.

30 Aug 2019

The Official Liquidator filed a report seeking permission to break open the lock put by the ex-management of J.B. Diamonds Limited (in liquidation) an...

High Court

Bombay High Court Dismisses Appeals by Employees' Union and Individual Claimant in Company Liquidation Dispute — Upholds Official Liquidator's Decision to Reject Claims as Time-Barred Under Section 529A of Companies Act, 1956. The court held that workmen's dues, though entitled to priority, must be claimed within the limitation period prescribed under Rule 148 of the Company Court Rules, 1959.

8 Aug 2019

The case involves two appeals filed by the Kamani Employees' Union and Mrs. Triveni A. Kulkarni against the Official Liquidator and others. The disput...

High Court

Bombay High Court Quashes Process Under Section 127 of Companies Act for Non-Payment of Dividend Due to Pending Dispute Between Shareholder Groups. The court held that the defence under section 127(c) of the Companies Act, 2013, which allows non-payment if there is a dispute regarding the right to receive the dividend, must be considered before issuing process.

22 Apr 2019

The case involves three criminal applications filed by the directors of Man Industries (India) Limited (MIIL) seeking quashing of notices and process ...

Supreme Court

Supreme Court Allows Secured Creditor's Winding Up Petition Despite DRT Decree — Recovery of Debts Act Does Not Bar Winding Up Proceedings Under Companies Act. Secured Creditor Need Not Relinquish Security Before Admission of Winding Up Petition; Election Arises Only After Winding Up Order Under Section 529 Companies Act, 1956.

29 Jan 2019

The case involves the right of a secured creditor, Kotak Mahindra Bank Ltd., to file a winding up petition under the Companies Act, 1956, after having...

High Court

Bombay High Court Quashes Sales Tax Notices Against Axis Bank in Liquidation Proceeding — No Liability for Tax Deducted at Source Under MVAT Act After Company's Winding Up. The Court held that the State cannot recover tax from a secured creditor who had no obligation to deduct tax at source under Section 42 of the Maharashtra Value Added Tax Act, 2002, as the deduction obligation arises only when payment is made to the dealer, and after winding up, the Official Liquidator is the proper authority.

7 Mar 2017

The petitioner, Axis Bank Ltd., a banking company, filed a writ petition under Article 226 of the Constitution of India before the Bombay High Court s...

High Court

Bombay High Court Holds Criminal Complaints Under Section 138 NI Act Not Covered by Company Law Moratorium. The expression 'suit or other proceedings' in Sections 442 and 446(1) of Companies Act, 1956 does not include criminal proceedings under Section 138 of Negotiable Instruments Act, 1881.

6 May 2016

The case involves a reference to resolve a conflict between two Single Judge judgments of the Bombay High Court regarding whether criminal complaints ...

High Court

Bombay High Court Declares Assignment of Assets by Ex-Director Void Under Sections 536(2) and 537(1)(b) of Companies Act, 1956 — Post-Winding Up Sale Without Court Leave Invalid. The court held that any disposition of company property after winding up without court approval is void, and subrogation does not permit sale of assets without leave of the court.

21 Oct 2015

The judgment concerns two reports filed by the Official Liquidator seeking a declaration that a Deed of Assignment dated 14.03.2012 executed by Mr. Sh...

High Court

Bombay High Court Dismisses Application for Recall/Review of Order Allowing Secured Creditor to Release Leasehold Rights. Applicant, an ex-director and guarantor, lacked locus standi as he was not a party to the original application and no fraud or mistake was established.

30 Jul 2013

The judgment concerns an application filed by Mr Shashikant Pasari, an ex-director and guarantor of Rajan (Textile) Mills Pvt Ltd (in liquidation), se...

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