Companies Act, 1956, Section 25 -- Liability to pay tax by club - Applicability - On winding up the surplus will be transferred to a club or association with similar activities but it does not come back to the members of the club as shareholders of a company in the form of dividends upon their shares - There is no sale transaction between two persons, as one person cannot..........
Companies Act, 1956, Section 433(e), 434 -- Winding up petition - Limitation - Trigger point for purpose of limitation for filing of a winding up petition u/s 433(e) of the Act would be date of default in payment of debt in any of three situations mentioned in S.434 of the Act - Contention rejected, that cause of action for purposes of limitation would include commercial..........
Companies Act, 1956, Section 434(1)(a) -- Winding up petition - Not a legitimate means of seeking to enforce payment of a debt which is bona fide disputed by Company...........
Negotiable Instruments Act, 1881, Section 138, Criminal Procedure Code, 1973, Section 482 -- Dishonour of cheque - Second application for quashing - Plea of resignation from company as Director not supported by Form 32 issued by Registrar of companies - Second application for quashing supported by Form 32 - There was a difference between the earlier application and..........
Arbitration and Conciliation Act, 1996, Section 11(5), 11(9), 11(12)(a) -- Appointment of sole arbitrator - Impleadment of no, signatory party to an arbitration agreement - Agreement executed between applicant and respondent no.1 having arbitration clause - Respondent no.2/Belgium Company was neither signatory to arbitration agreement nor did have any causal connection..........
Arbitration and Conciliation Act, 1996, Section 11(5), 11(9), 11(12)(a) -- Appointment of sole arbitrator - Arbitration agreement between applicant and respondent no.1 containing arbitration clause - Respondent no.1 company having established under provisions of Indian Companies Act and having its registered office in India - Applicant thus, can pursue its remedy against..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Company - Managing Director - A fact denied by petitioner - Petitioner not signatory of cheque - Neither any pleadings nor any assertions that petitioner was in-charge of or was responsible to the company for conduct of business of the company - It is apparent from the print out from the site of..........
Companies Act, 2013, Section 212(1), (2) -- Investigation into affairs of company by Serious Fraud Investigation Officer (SFIO) - Central Government u/s 212(1) of the Act assign investigation to SFIO and upon such assignment, no other investigating agency of Central Government or any State Government can proceed with investigation in respect of any offence punishable under..........
Companies Act, 2013, Section 212(3) -- Investigation into affairs of company by Serious Fraud Investigation Officer (SFIO) - Period of completion of investigation - Prescription of period within which a report is to be submitted by SFIO to Central Government u/s 212(3) of the Act is purely directory - Even after expiry of such stipulated period as specified by Central..........
Companies Act, 1956, Section 456, Transfer of Property Act, 1882, Section 106 -- Custody of company`s property - Application for termination of tenancy by appellants - Property of company in liquidation leased out to appellants - Lease in favour of appellants not only illegal but also void as property of company in liquidation cannot be transferred by company or its..........
