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Case Laws
Showing 61 to 80 of 349 Records
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1998 (10) TMI 456 - SUPREME COURT
Whether a pawnbroker is a “dealer” and carries on “business” within the meaning of the State General Sales Tax Act read with the State Pawn Brokers Act and Rules when he causes the sales of unredeemed articles/goods, occasioned by the default of the pawner through (statutory) auctioneer?
Held that:- Appeal dismissed. No hesitation to reject the contention of the learned counsel for the appellants that the pawnbroker cannot be treated as a seller of goods in the facts and circumstances of these cases and, therefore, not a “dealer” under the Sales Tax Act.
It is now well-settled that any activity incidental or ancillary to the main business will also come within the definition of “business” under the Sales Tax Act and, therefore, the contention that the sale of unredeemed goods, being incidental to the business of pawnbroker was not liable to sales tax, cannot be accepted.
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1998 (10) TMI 452 - SUPREME COURT
Whether “toffee” is “sweetmeat” or a commodity of a like nature and therefore the appellant’s industrial units making toffees, though newly set-up, were not entitled to the benefit of exemption from payment of sales tax under notification dated July 27, 1991, issued by the State of Uttar Pradesh, in exercise of its powers under section 4-A of the Uttar Pradesh Sales Tax Act, 1948?
Held that:- Appeal allowed. High Court has not correctly interpreted and construed entry No. 18 of the notification. Considering the object of the notification and the intention of the State Government in granting exemption from payment of sales tax and applying the correct principles of interpretation in such cases, we hold that the word “sweetmeat” and the words “commodities of like nature” as used in the notification dated July 27, 1991 did not include within their sweep toffees manufactured by industrial units as contemplated by the notification and the Joint Director of Industries, the Tribunal and the High Court were wrong in taking a contrary view.
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1998 (10) TMI 443 - HIGH COURT OF DELHI
Writ - Maintainability of ... ... ... ... ..... eloped or semi-developed blocks. The guidelines under the industrial policy only stipulate that preferably blocks in green field where public sector infrastructure is yet to be developed should be given to the private sector. The cost incurred by NMDC for the development work has been agreed to be reimbursed to it. It also cannot be seriously disputed that for full exploitation of this iron ore deposit huge amounts were required to be spent. While some devel- opment work had been done but considerable development work had still to be undertaken. It is, therefore, not possible to accept the contention that the transfer of the iron ore deposit is contrary to the industrial policy or the guidelines framed for transfer of such deposit to private sector. 40. For the aforesaid reasons, we find no ground to interfere in this writ petition filed as a public interest litigation. Accordingly, the writ petition is dismissed leaving the parties to bear their own costs. SCL q MAY 20, 1999
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1998 (10) TMI 442 - HIGH COURT OF BOMBAY
Winding up - Avoidance of transfers, etc. ... ... ... ... ..... ur weeks of the claims of the workers being ascertained by the official liquidator. The workers from the date of winding up would also be entitled to simple interest on the amount claimed by them at the rate of 12 per cent per annum. An undertaking to that effect should also be given as the money is presently with Respondent Nos. 2 and 3 who are using the same. The Respondent Nos. 2 and 3 to advance such sums to the official liquidator for the purpose of proceeding with the work of ascertaining the claims of the workers. Hence the following order ORDER (a)The sale by Respondent No. 2 in favour of the Applicant is confirmed subject to Respondent Nos. 2 and 3 filing undertaking in this Court as set out in the paragraph 10 of the Judgment within eight weeks from today. (b)In the event any difficulty arises, it is open to the parties to move this court. Judges Summons disposed off accordingly. In the circumstances of the case, parties to bear their own costs. SCL q MARCH 20, 1999
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1998 (10) TMI 441 - HIGH COURT OF ALLAHABAD
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... hether there is an alleged debt and whether the company is unable to pay its debt. The Court is, therefore, of the view that the disputed questions raised in the present petition can only be decided on the basis of oral and documen-tary evidence in a regular trial before the competent Court. 12. As a result of the aforesaid discussion the Court is of the view that the present winding up petition ought not to be admitted and advertised. However, it is made clear that if any of the parties decide that the dispute be adjudicated by the competent civil court or before any appropriate forum, any observation made in this order by this Court shall not effect the merits of the suit or the proceedings initiated and the same shall be tried irrespective of any observation made on merits in this order. 13. With these observations, this petition is dismissed but in the facts and in the circumstances of the case, the parties shall bear their own costs of this petition. SCL q APRIL 20, 1999
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1998 (10) TMI 440 - HIGH COURT OF GUJARAT
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... the petitioner the aforesaid sum by 30-11 -1998, the matter shall be placed before the Court for passing appropriate orders regarding admission of the petition and for advertise-ment of the notice of the petition. Hence, S.O. 3-12-1998. 50. At this stage, Mr. Vakil, learned counsel for the respondent Company prays for stay of operation of this order in order to enable the respondent Company to have further recourse in accordance with law. In view of the fact that the Court has already granted the respondent Company time upto 30-11-1998 to make payment, the respondent Com-pany will have sufficient time to have further recourse in the meantime. Hence, the request is rejected. At this stage, the learned counsel for the petitioner as well as the learned counsel for the respondent request that in view of the time invested by this Court in dealing with the factual controversy between the parties, the matter may be treated as part heard for further orders, if required, on 3-12-1998.
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1998 (10) TMI 439 - HIGH COURT OF ANDHRA PRADESH
Service of documents on members of company ... ... ... ... ..... n 2 of section 53, such service shall be deemed to have been effected in case of a notice of meeting at the expiration of 48 hours after the letter containing the same is posted and, therefore, it can be safely concluded that notice despatched on 28-9-1998 sent under certificate of posting was served on the applicant on 1-10-1998. Excluding 23-10-1998, the date on which the meeting is to be convened, it is found that 21 days clear notice has been served as required by rule 73 of the Companies (Court) Rules, 1953. 7. For the foregoing reasons, there appears to be no force in the contention of the learned counsel of the respondent that the notice received by the applicant is invalid and, therefore, on this count only, the meeting ordered to be convened on 23-10-1998 should be postponed. 8. As noted above, no other point has been pressed for decision, and whatever has been urged has been answered as stated above. 9. In the result, the application is dismissed. SCL q JUNE 5, 1999
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1998 (10) TMI 438 - HIGH COURT OF ALLAHABAD
Winding-up - Circumstances in which a company may be wound up ... ... ... ... ..... pay interest at the rate of 15 per cent (Simple) to the petitioner from the date of the statutory notice till the date of payment of the admitted amount of Rs. 13,64,329. The interest shall be payable proportionately taking into consideration the instalments paid from time to time after adjusting the instalments. The respondent-company is directed to calculate the amount of interest at the rate of 15 per cent (Simple) as indicated above and shall pay the same by means of a bank draft in the name of the petitioner-company within 5 weeks from today. 16. In the facts and the circumstances of the present case, I direct the respondent to pay cost to the petitioner which I assess at Rs. 2,000. The amount of cost shall also be paid within 5 weeks. Both the amounts can be paid by means of a bank draft directly to the petitioner or to its learned counsel within the period indicated above. 17. With these observations, this winding-up petition is finally disposed of. SCL q MARCH 5, 1999
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1998 (10) TMI 437 - HIGH COURT OF ALLAHABAD
Winding up - Statement of affairs to be made to Official Liquidator ... ... ... ... ..... e the Court misappropriate the amount and then abscond. The police hardly takes interest in such matters and thus a cheat goes scot free to start his activity in another part of the country and resort to the same modus operandi. In the present case, the situation appears to be similar. The Managing Director of the Company (in liq.) namely Dr. N.R.S. Rangwala has ab sconded along with his wife after having duped a large number of persons who had made deposit in the company (in liq). The police have done nothing except submitting a report that the person is not traceable at the address mentioned. This is a fit case in my opinion which should be investigated by the CBI so that the culprits can be arrested and tried for the offence of cheating. The Official Liquidator may take necessary steps in the matter and obtain appropriate orders from the Court for the said purpose. 6. With these observations, the Company Application No. 24 of 1993 is hereby disposed of. SCL q APRIL 5, 1999
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1998 (10) TMI 435 - HIGH COURT OF BOMBAY
Limitation, Arbitral Tribunal - Composition of ... ... ... ... ..... e that a similar question had come up before me earlier. I had upheld the contention under section 10 of the 1996 Act but refused to interfere with the proceedings considering the lan- guage of sections 16 and 37(2). Under section 37(2) appeal lies only when the arbitral Tribunal upholds the plea that it has no jurisdiction. Section 14(2) had not been considered. The present petition can, therefore, be treated as an application under section 14(2). Once it is so treated, it will be held that the arbitrators de jure cannot proceed with the arbitration. 21. In the above context, the following order Arbitration Petition Nos. 82 of 1997 and 83 of 1997 are allowed. The impugned awards are set aside. The matter is remitted back to the arbitrators for deciding the reference afresh within four months from receipt of communication of the order of the court. Each party to bear their own costs. Arbitration Petition No. 318 is allowed. Proceedings stand terminated. SCL q OCTOBER 20, 1999
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1998 (10) TMI 433 - HIGH COURT OF DELHI
Winding up - Company when deemed unable to pay its debts ... ... ... ... ..... having been rejected being mala fide coupled with the fact that the company acknowledged the liability of Network Medical to the tune of Rs. 75,143, the pleas raised by the company appear to be mala fide. No explanation has been given why these amounts after having been admitted were not paid. I am prima facie of the view that the defence raised by the respondent-company is not bona fide. These have been raised with the intention to avoid its liability for the amounts payable by the respondent-company. For the reasons stated above the petition is admitted. Citation is ordered to be published in the newspapers Statesman (English edition), Veer Arjun (Hindi edition) as well as in Delhi Gazette for March 12, 1999. The official liquidator attached to this court is appointed as the provisional liquidator of the company. He is directed to take into custody and possession the assets, stocks and books of account of the respondent-company immediately and prepare inventory of the same.
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1998 (10) TMI 432 - HIGH COURT OF HIMACHAL PRADESH
Winding up - Company when deemed unable to pay its debts ... ... ... ... ..... refund of the amount of security was issued on September 29, 1991. The present petition has been made on November 3, 1997, that is, after the expiry of a period of more than six years from the. date of refusal by the respondent-company to refund the amount of security. The claim of the petitioner-company, therefore, on the face of it had become barred by time as on the date of the presentation of the present petition. Therefore, there was no legally recoverable debt within the meaning of section 433 of the Act. Article 70 of the Limitation Act, 1963, prescribes a period of three years for the recovery of movable property deposited or pawned from a depository or pawnee. There is no denying that the term movable property used in article 70 includes money. Even on this score, the defence raised on behalf of the respondent-company is bona fide and the petitioner-company cannot take resort to the provisions of section 433 of the Act. Resultantly, the present petition is dismissed.
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1998 (10) TMI 399 - HIGH COURT OF GUJARAT
Compromise or arrangements ... ... ... ... ..... omise and arrangement must not be found to be violative of any provision of law and not contrary to public policy and for ascertaining the real purpose underlying the scheme with a view to be satisfied on this aspect, the Court, if necessary, can pierce the veil of apparent corporate purpose underlying the scheme and can judiciously x-ray the same. 14 In the case of decisions in Sakamari Steel and Alloys Ltd. In re 1981 51 Comp. Cas. 266 (Bom.) Shyam S. Rustogi v. Nona Sona Exports (P.) Ltd. 1986 59 Comp. Cas. 832 (Delhi) and Bengal National Textile Mills Ltd. In re 1986 59 Comp. Cas. 956 (Cal.) the Courts have held that it is incumbent upon the Court to satisfy prima facie that the Scheme is bona fide and in the interest of the company. 15 On the facts and in the circumstances of the case and the material on record the Court is unable to give any such prima facie finding that the Scheme is bona fide and in the interest on the company. This application is therefore, rejected.
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1998 (10) TMI 398 - HIGH COURT OF GUJARAT
Winding up - Inability to pay debt ... ... ... ... ..... e hearing is an after thought. 13. In view of the fact the defence pleaded by the company is not bona fide, the decisions in the cases of Madhusudan Gordhandas and Co. (supra) and Nawabzada Captain Syed Murtaza Ali Khan ( supra), far from assisting the company, support the petitioner rsquo s prayer for winding up of the company. 14. In view of the above discussion, the petition is allowed. The respon-dent-company Arvin Liquid Gases Ltd. is ordered to be wound up. The Official Liquidator attached to this Court is appointed as the Liquida-tor and shall exercise powers under sections 456 and 457. The Official Liquidator shall take possession of all the assets of the company after making an inventory. The public notice of winding up of the company shall be published, at the petitioner rsquo s cost, in the daily newspapers lsquo Indian Express rsquo Ahmedabad and Baroda editions and in the lsquo Jansatta rsquo Ahmedabad and Baroda editions after 30-11-1998. SCL q DECEMBER 20, 1998
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1998 (10) TMI 395 - HIGH COURT OF GUJARAT
Winding up - Inability to pay debt ... ... ... ... ..... ner to file a suit for the claim which is the subject-matter of the present petition, within one month from the date of receipt of the intimation by the learned counsel for the petitioner regarding deposit of the amount by the respondent-company. (c) Upon the petitioner filing a certified copy of the plaint in such civil suit before the Registrar of this Court, the amount shall be transferred to the Civil Court where such suit is filed and thereafter the investment-disbursement of the amount shall abide by the interim/final orders which may be passed by the Civil Court in such suit. (d) In case the petitioner does not file a civil suit as aforesaid, the amount deposited by the respondent-company shall be permitted to be withdrawn by the respondent-company. (2) In case of failure on the part of the respondent in depositing the amount as directed above, the petition shall stand admitted and shall be placed on board for directions regarding advertisement. SCL q DECEMBER 20, 1998
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1998 (10) TMI 394 - HIGH COURT OF DELHI
Winding up - Inability to pay debt ... ... ... ... ..... estion of delay if the company took delivery of the consignments without any demur and the consign- ment was accepted then the company could not raise such a defence that there was delay in supply of material or it was defective. This observation squarely apply to the facts of this case. The company failing to pay the price of goods and disputing the quality, delay and the rate at which material was supplied appears to be not bona fide defence as such a plea was never raised earlier nor any counterclaim having been filed the defence appears to be motivated. The company took the delivery of the goods without any demur rather placed, further orders indicating its requirement. This shows that the defence now raised is not bona fide. The property in goods having been passed on to the company it has to pay the price of the same. 9. For the reasons stated above, I find no merits in the objections raised by the respondent-company. 10. The petition is admitted. SCL q DECEMBER 5, 1998
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1998 (10) TMI 392 - HIGH COURT OF BOMBAY
Collective investment scheme - Certificate of registration ... ... ... ... ..... h reveals that, out of Rs. 1,693.54 lakhs collected, only Rs. 482.23 lakhs were expended fruitfully for business operations of the Company. The investigation also reveals in detail the mismanagement by the directors of the respondent No. 1 company. As the investigation is still in progress, no further directions are required to be issued for the present. 7. However, considering the facts narrated above and various other similar petitions filed before this Court complaining against the misman- agement by such Companies and their directors, we hope that the Central Government or the State Government would take appropriate action in framing appropriate Regulations/enactment as early as possible as suggest- ed by the learned Counsel for the petitioner and the respondent No. 6. 8. It would be open to the Official Liquidator to take physical possession of the premises located at Goregaon and Malad which are under his lock and key. 9. Stand over to 23-11-1998. SCL q NOVEMBER 5, 1998
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1998 (10) TMI 366 - CEGAT, NEW DELHI
Evidence - Statement ... ... ... ... ..... order. Had the said two persons as well as the appellant signed blank papers as subsequently claimed during the adjudication proceedings their natural reaction would have been to bring the same to the notice of the department promptly . Instead, they had taken the plea of signing blank papers nearly two years after the time when the statements had been taken. This delay detracts from the value of the retraction plea. The original statements taken at the time of the visit of officers to the appellant rsquo s place cannot be disbelieved or rejected due to the manner of writing of the statements and the position of the signature of the persons, not at the end or bottom of the statement but at a little higher level. There was no reason for the officers to make out a case against the appellant if the factual position was as claimed by him subsequently. In the circumstances while I uphold the order in so far as the demand of duty is concerned. I reduce the penalty to Rs. 10,000/-.
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1998 (10) TMI 365 - CEGAT, NEW DELHI
Demand - Limitation ... ... ... ... ..... stment of India Ltd. v. CCE reported in 1989 (42) E.L.T. 484 (Tribunal) . (5) Mermaid Marine Products Pvt. Ltd., Telicherry v. CCE, Cochin reported in 1985 (20) E.L.T. 329 (Tribunal) . (6) M/s. Cosmic Dye Chem, Palghar v. CCE, Bombay reported in 1984 (18) E.L.T. 6 (Tribunal) . (7) M/s. Vishwakarma Steel Industries, Ahmedabad v. CCE, Ahmedabad reported in 1986 (26) E.L.T. 169 Tribunal) . He had held that the noticee rsquo s firm has not filed any classification regarding their product namely P.C. Acid and as such, the provisions of Rule 9(2) of the Central Excise Rules read with proviso to sub-section (1) of Section 11A of the Act are applicable. 25. emsp After going through the respective orders proposed by the ld. Vice President and learned Member (J), and in the light of the discussions above, I agree with the ld. Member (J) that there is no infirmity in the impugned order. Sd/- (Lajja Ram) Member (T) MAJORITY VIEW In view of opinion of the majority, the appeal is rejected.
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1998 (10) TMI 350 - CEGAT, NEW DELHI
Demand - Intermediate product - Penalty ... ... ... ... ..... ass tubes was an intermediate product. It is however seen that manufacture of glass beads is a down stream process independent of the basic manufacturing facilities of glass. In the case of manufacturing of glass beads, they had no manufacturing facilities for basic glass. The starting material could be the glass tube. The glass tube as held by the lower authorities was thus required to be charged to duty otherwise leviable even when the glass beads were exempt from duty. 6. emsp Taking all the relevant facts and considerations into account, I do not find any infirmity with regard to the demand of duty of Rs. 29,306.00. As regards the penalty of Rs. 30,000/- in the facts and circumstances of the case, I reduce the penalty from Rs. 30,000/- to Rs. 5,000/- (Rupees Five thousand only). Subject to reduction in the amount of penalty from Rs. 30,000/- to Rs. 5,000/-, the appeal is otherwise rejected. The cross-objections are also disposed of in the above terms. Ordered accordingly.
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