State Financial Corporation Act, 1951, Section 29 -- OTS scheme - Benefit - Legal proceedings for realization of dues - Plant of petitioner was shut down before the year 2001 and moreover, it is not functional - Even, respondent/corporation has issued notice indicating that it will be compelled either to take possession and management of the petitioner's concern u/s 29 of..........
Criminal Procedure Code, 1973, Section 439(2), 482, Indian Penal Code, 1860, Section 420, 406, 467, 471, 120B -- Criminal breach of trust - Grant of bail - Accused and complainant are directors ofthe same company - Allegation of complainant that accused persons applied for loan on his false signature and manipulated the accounts of the company - In reply, accused stated..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by company - Appeal against acquittal - Complainant and accused No.1 both are companies and no record in respect of loan allegedly given by complainant company to accused company has been produced - Even, complainant company cannot advance short term loan to accused company without any..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by company - Quashing of complaint - Magistrate while summoning petitioners categorically recorded that there is prima facie material to issue process - Issue whether petitioners were Directors on the relevant date or not is a question of fact - Court at this stage is not inclined to go..........
Companies Act, 1956, Section 10F -- Appellate jurisdiction - Challenge against order of Company Law Board - Allegations of oppression and mis-management in company affairs by daughters of deceased Managing Director - Wife of deceased Managing Director, disagreed with decision of Board to transit deceased`s share equally amongst new Directors - High Court in instant case..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by company - Vicarious liability - Quashing of complaint - When there was an allegation to the effect that Directors were involved in day-to-day business of company, High Court ought not to have quashed the proceedings against such Directors - Moreso, notice issued to company was refused..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Company - Company and its Directors are not liable when cheque is drawn by an employee of company on his personal account for discharging dues of company and its Directors...........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Company - Company and its Directors are not liable when cheque is drawn by an employee of company on his personal account for discharging dues of company and its Directors...........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Company - Notice to company - There is no requirement to give separate notice to Directors of company - Such Directors who are in charge of affair of Company and responsible for affairs of Company, would be aware of the receipt of notice by the Company u/s 138 of the Act - If there is plea of Directors..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Non-signatory directors of company - Complaint is maintainable when there is averment that such directors are in charge of day to day business of company and responsible for the conduct of the business of the company - Complaint can be quashed when there are uncontrovertible material to show it..........