Writ Petition No: 2519 of 2012 Decided on: 05/04/2013 Companies Act, 1956 – Section 20 and 22 – incorporation of companies with identical names – later company directed to change its name merely on the ground that names are identical – whether tenable- Held, No. Brief Facts: Petitioner Company: VOV Cosmetics Pvt Ltd, incorporated on …
VOV COSMETICS PVT LTD & ORS V/s UNION OF INDIA & ORS [BOM] Read More »
APPEAL NO: 209 of 2013 DECIDED ON: 9-04-2013. CASE IN BRIEF: This case is a landmark decision by a two-judge bench of the Hon’ble Delhi High Court on the issue of ‘writing off’ of ‘Bad debts’ after the demerger of a company. When the original company would have been entitled to write off the bad …
COMMISSIONER OF INCOME TAX V/s TIMES BUSINESS SOLUTION LTD. Read More »
APPEAL NO: 2728 of 2013. DECIDED ON: 1-04-2013. CASE IN BRIEF:This case is a landmark decision by a two-judge bench of the Indian Supreme Court on the issue of evergreening of pharmaceutical patents. Application filed in India for patent of “Imatinib mesylate” in Beta crystalline form, by appellant (“Novartis”) denied by Assistant Controller of Patents …
Appeal No.C.P. NO. 31 OF 2012. Decided on : 03/08/2012 Brief Facts: A Company offering to be dissolved under the Fast Track Scheme without undergoing the elaborate process of winding up cannot later apply for restoration of its name in the Register of Companies. The Madras High Court rejected the plea of the petitioner that …
Appeal No. 2190Of 2012 Decided on : 08/02/2013 Securities Contract (Regulations) Act, 1956 (“ The Act”) – Section 23L – Listing permission for rights issue allowed – appellants participated in the rights issue – Later sought for non granting of listing permission – NSE rejected their plea – Whether NSE is right in rejecting the …
VICTOR FERNANDES & ANR v. NATIONAL STOCK EXCHANGE OF INDIA LIMITED & 22 ORS (SAT) Read More »
C.P. No. 612 of 2012 Decided on : 04/01/2013 Companies Act 1956 – Section 433 – Winding up – disputes over unpaid rent – time of handing over possession of premises highly disputed whether petition to be admitted – Held, No. Brief facts : The Petitioner gave on rent the ground floor of the property …
PLD INTERNATIONAL PVT LTD V. REEBOK INDIA COMPANY (DEL) Read More »
C.A. No. 2386 of 2012 in C.P. No. 179 of 1994 Decided on: 11/12/2012 Companies Act: Sections 454(5), 468, 477, 481 -Company under Liquidation -Official Liquidator(OL) Could not take possession of any moveable and immovable assets of the Company – no other assets available for realization – whether the company should be dissolved and liquidation …
SHRI RAM BEARING LTD V. TRISHAKTI ELECTRONICS P. LTD (DEL) Read More »
Introduction: Sahara India Real Estate Corporation Ltd ( “SIRECL”) and Sahara Housing Investment Corporation Ltd (“SHICL”) (both unlisted public companies), in March 2008 and September 2009, raised around 24,000 crores rupees from investors by issuance of Optionally Fully Convertible Debentures (OFCDS) by passing Special resolution U/S 81(1A). Subsequently they filed RHPs to the concerned ROC …
IT Appeal No. 82 (Agra) of 2012 [Decided on : 23/10/2012] Income Tax Act, 1961 – Section 2(22)(e) – deemed dividend – loans to director who was holding 10% of the share capital of the lending company – Assessing Officer(AO) assessed the loan as dividend – whether correct – Held, Yes. Brief facts : During …
CO.A(SB) 22/2008 Sections 529A, 530, 530(1)(a) of the Companies Act, 1956 read with Section 53 of Madhya Pradesh Commercial Tax Act, 1994 – outstanding tax dues – ranked as preferential creditor instead of secured creditor -Whether correct -held, yes. [Decided on: 22/11/2012] Brief Facts: The Company under liquidation owed to the Govt of Madhya Pradesh …
Commissioner, Commercial Tax, Govt of Madhya Pradesh v/s. Official Liquidator Read More »
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