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Showing 1 to 20 of 4170 Records Search Text: section 283 companies act |
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1939 (1) TMI 10 - HIGH COURT OF RANGOON The appellant was convicted under section 4, sub-section 2 of the Companies Act, 1913 for forming a company without registration, as evidence showed over twenty members subscribed for shares. Additionally, the appellant was convicted for carrying on business using the word 'limited' without incorporation. The defense's arguments regarding the legal relationship between shareholders were rejected by the court, which held that the appellant's actions constituted offenses. The court acknowledged efforts to register the company but upheld the convictions, reducing the fine for the first offense but maintaining the sentence for the second offense.
Absence from three consecutive Board meetings with out obtaining leave of absence - Automatic cessation under section 283(1)(g) of the Companies Act 1956 - there is an implied leave of absence granted to a Director who abstained from a meeting of the Board of Directors. - CLB
2018 (4) TMI 233 - SECURITIES APPELLATE TRIBUNAL, MUMBAI The tribunal dismissed the appeal, upholding SEBI's order holding the appellant liable for the period from December 20, 2010, to April 01, 2013. The appellant was directed to refund the money collected through the issuance of Redeemable Preference Shares with interest, jointly and severally with the company and other directors. The tribunal also dismissed the Miscellaneous Application No. 329/2017 and made no order as to costs.
2018 (8) TMI 1480 - THE APPELLATE AUTHORITY-ICSI The Appellate Authority upheld the Disciplinary Committee's findings, determining the Appellant guilty of professional misconduct for failing to exercise due diligence in certifying Form-32 for director appointments and cessations. The appeal was dismissed, affirming the reprimand and fine of ?5,000. The Authority specified that the findings would not impact other disputes involving the Khosla family management.
1979 (8) TMI 158 - HIGH COURT OF PATNA The court partially allowed the appeal in a case concerning the effectiveness of directors' resignation and the applicability of Section 454(2)(a) of the Companies Act, 1956. The court remanded the case to the lower court to reconsider the appellants' ability to submit the statement of affairs, emphasizing the importance of assessing their actual capacity to comply with the order. Other issues raised by the appellants were not addressed at this stage, and no costs were awarded in the matter.
1974 (8) TMI 75 - HIGH COURT OF BOMBAY The court held that the proposed amendment to Article 74 of the Cricket Club's Articles of Association was invalid as it was found to be repugnant to Section 274 of the Companies Act, 1956. However, the requisition was deemed valid as it met the procedural and numerical requirements of Section 169 of the Companies Act, 1956. Consequently, the executive committee was obligated to call an extraordinary general meeting in accordance with Section 169.
2012 (10) TMI 650 - Company Law Board, Mumbai The High Court upheld the status quo order regarding shareholding patterns but did not grant immunity to the petitioner from legal provisions governing directorial duties. The Board ruled in favor of the petitioner, emphasizing the need for proper treatment of leave requests and adherence to natural justice principles in determining directorial status. The application was posted for further proceedings with the main petition.
2017 (7) TMI 1104 - SECURITIES AND EXCHANGE BOARD OF INDIA MUMBAI The appeal was dismissed, confirming the appellant's liability to refund ?40 lakh with interest jointly and severally with BREDL and other directors. The court upheld the determination that all directors, including the appellant, were "officers in default" under the relevant sections of the Companies Act, 1956. The appellant's arguments regarding non-receipt of board meeting notices and reliance on previous case law and circulars were found to be without merit.
2018 (4) TMI 918 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI The Tribunal found various actions of the appellants to be invalid, including conducting meetings without proper notice, allotting shares to outsiders without following due process, and increasing authorized share capital without proper notice. The removal of a director was also deemed invalid due to discrepancies in meeting dates and notices. Allegations of oppression and mismanagement were upheld, leading to directions for a forensic audit, management takeover by the majority shareholder, and appointment of auditors. The Tribunal emphasized compliance with legal requirements, transparency in corporate governance, and protection of majority shareholders' interests in its decision.
1974 (2) TMI 97 - CALCUTTA HIGH COURT The court held that Barooah did not vacate his directorship under section 283(1)(g) of the Companies Act, 1956, as alleged. The allotment of shares to Khaund was deemed mala fide, aimed at gaining control. Sections 397 and 398 were found applicable due to oppressive conduct towards Barooah. However, the order for Barooah to sell his shares was deemed unjust. The appeal was dismissed, declaring the share allotment illegal, appointing a special officer, and setting aside the share sale order.
2017 (6) TMI 188 - NATIONAL COMPANY LAW TRIBUNAL, KOLKATA The tribunal upheld the petitioner's removal as a director for absenteeism and lack of response to inquiries. Allegations of oppression and mismanagement were dismissed due to insufficient evidence. The tribunal emphasized the distinction between directorial complaints and shareholder oppression, directing fair valuation for the petitioner's exit within three months. The petition was resolved without costs.
1989 (8) TMI 276 - HIGH COURT OF BOMBAY The High Court held that the trial court lacked jurisdiction under section 10 of the Companies Act to entertain a suit challenging the removal of a director under section 283. The plaintiff's claim fell within the jurisdiction of the High Court or empowered district courts, not the civil court. The appellate court vacated the injunction granted by the trial court, emphasizing that district courts do not typically handle disputes related to company affairs unless specifically authorized. The Civil Revision Application by the plaintiff was dismissed, and the defendants' application was allowed, maintaining the status quo until a specified date.
1991 (4) TMI 316 - HIGH COURT OF DELHI The court dismissed the plaintiff's application for an interim injunction, ruling that the plaintiff did not establish a prima facie case and was not entitled to the relief sought. The court found that the plaintiff had automatically vacated his directorship under section 283(1)(g) of the Companies Act for missing three consecutive board meetings without leave. Additionally, the court noted that the plaintiff lacked the authority to nominate directors as he did not hold the required 10% share capital. The decision was made without prejudice to the final merits of the case.
2016 (3) TMI 882 - COMPANY LAW BOARD KOLKATA The Board determined that the erstwhile Directors were not disqualified under Sections 164 and 167 of the Companies Act, 2013, as the provisions required non-filing of financial statements for three consecutive years post-implementation. Therefore, the existing Board of Directors was deemed validly appointed and authorized to appoint Advocates. The application challenging the appointment of Advocates was dismissed, and no costs were awarded.
2016 (1) TMI 652 - COMPANY LAW BOARD KOLKATA The Company Law Board dismissed the application for an injunction against the appointment of new Advocates-on-record and Counsels. It held that the erstwhile Directors were validly appointed and competent to make such appointments. The Board emphasized compliance with statutory requirements and the correct interpretation of the Companies Act, 2013 provisions. The Board concluded that the prayers in the Company Application were disallowed as the Directors continued to hold valid appointments.
2018 (12) TMI 1884 - GUJARAT HIGH COURT The court quashed the criminal cases filed by the RoC against the petitioner due to lack of evidence and procedural irregularities. The court invoked its powers under Section 482 of the Code of Criminal Procedure to prevent abuse of the court process, allowing the writ petition and making the rule absolute.
2020 (9) TMI 374 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI The NCLAT quashed the Impugned Order, directing the bank to hold the appropriated amount and allowing both parties to seek further directions from the High Court. The judgment emphasized the importance of legal basis and jurisdiction in issuing directions in such matters, particularly in the context of pending winding-up proceedings.
2023 (2) TMI 467 - BOMBAY HIGH COURT The court quashed and set aside the show cause notices dated 24.02.2020, 19.03.2020, and 04.12.2020, and the order dated 14.12.2020, issued under Section 179 of the Income Tax Act, 1961, due to non-compliance with procedural requirements. The court found the notices lacked necessary details demonstrating efforts to recover tax dues from the company, rendering them unsustainable. Interim applications seeking intervention and relief were also rejected. The petition was allowed, and the rule was made absolute in terms of Prayer Clauses (b) and (c1), with no costs awarded.
2021 (2) TMI 16 - NATIONAL COMPANY LAW TRIBUNAL , BENGALURU BENCH The Tribunal affirmed its jurisdiction over the matter, found a prima facie case of fraud by the company, appointed a Provisional Liquidator, and allowed time for responses. The Official Liquidator was tasked with safeguarding company assets and ensuring compliance with the Companies Act. The Tribunal acknowledged the importance of natural justice but deemed immediate intervention necessary due to the seriousness of the allegations. The case was scheduled for further hearing, with orders communicated to all relevant parties and the Official Liquidator.
2005 (6) TMI 565 - COMPANY LAW BOARD NEW DELHI The NCLT directed the restoration of the status quo in Limrose Engineering Works Pvt. Ltd. as it existed before 14th August 2000. The cessation of directorship of the 1st and 3rd petitioners was deemed invalid, and the appointments of the 4th and 5th respondents as directors were nullified. The court canceled the unauthorized increase in capital and subsequent share allotment, declaring related filings with the ROC null and void. The ROC was instructed to disregard these filings. The petition was disposed of without any order as to costs.
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