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702 judgments · newest first · showing 601–702
The appellant, Rama Narang, was appointed Managing Director of a deemed public limited company after being convicted of offences involving moral turpitude. Respondent Ramesh Narang challenged the appointment under Section 267 of the Companies Act, 1956, which bars a person convicted of such offences …
Petitioners challenged the Tamil Nadu Minor Mineral Concession Rules 8‑C (as amended on 10 June 1992) and Rule 38, alleging that they illegally reserve quarrying of certain granites for the State Government and its companies without the Central Government’s approval required under Section 17‑A(2) of …
The Madhya Pradesh Hastashilp Vikas Nigam Ltd., a government company, appointed five individuals as temporary Junior Managers in July 1989, contrary to a State Government order dated 1‑April‑1989 that required prior approval for such appointments. The appointments were later terminated on …
The Supreme Court considered the sanction of a scheme of amalgamation between Tata Oil Mills Company Ltd. (TOMCO) and Hindustan Lever Ltd. (HLL), a subsidiary of the foreign multinational Unilever. The petitioners – nominal TOMCO shareholders, employee unions and consumer groups – challenged the …
Bloom Dekor Ltd., a public company, issued a public share offering that was oversubscribed. A group of investors, seeking to avoid losses from speculative out‑of‑the‑ring transactions, filed a series of suits and applications in various courts (Morvi, Prantij, Baroda, Ahmedabad) alleging that the …
Bharat Coking Coal Ltd (appellant), a government-owned company, sold hard coke to Steel Abrasers & Allied Products Ltd (respondent) for foundry use. The Central Government, under the Colliery Control Order, 1945, issued a 1991 notification fixing prices for coke but allowing additional charges for …
Satish Chandra challenged Sections 4, 5, 16, 21 and 27 of the Companies (Amendment) Act, 1988 on the grounds that Parliament lacked competence to create the Company Law Board (CLB) and that the Act failed to protect minority shareholders. The petition argued that the power under Section 397 of the …
UCO Bank, a secured creditor of Glass Carboys & Pressedwares Ltd., obtained a decree in 1976 to recover its debt before the Companies (Amendment) Act, 1985 came into force. The amendment inserted a proviso to Section 529(1) of the Companies Act, 1956, deeming the security of every secured creditor …
Morgan Stanley Mutual Fund, a SEBI‑registered domestic mutual fund, sought to issue a public fund scheme after obtaining SEBI approval for its draft scheme and advertising the issue. A prospective investor filed a petition before the Calcutta District Consumer Disputes Redressal Forum seeking an …
The Supreme Court clarified directions given on 14 May 1993 in a dispute between Sudharshan Trading Company Ltd., its subsidiary’s liquidators, and the Subscribers' Association of a chit fund. The Court ordered the holding company to pay 25% interest on a Rs 5 lakh deposit for the period 3 Nov 1989 …
The Central Bank of India (appellant) had two suits in the Subordinate Court of Rangareddy, Andhra Pradesh, to enforce an equitable mortgage and recover expenses against Elmot Engineering Company (a limited company) and its directors. While the winding‑up petition against the company was pending, …
Three shareholders of Jeypore Sugar Co. Ltd., including a daughter residing in the USA, filed a petition under sections 397/398 of the Companies Act, 1956. The daughter had executed a General Power of Attorney (GPA) in favour of her father, who gave written consent on her behalf as required by …
The appellants, heirs of a deceased shareholder of Calico Dying & Printing Mills Ltd., sought transmission of 100 shares after obtaining an heirship certificate. The company, having amended its Articles of Association in 1977 to empower the Board to refuse any transfer without reason, declined to …
The Pradeshiya Industrial & Investment Corporation of Uttar Pradesh (appellant) entered into a promoters agreement with Dalmia Dairy Industries Ltd (second respondent) to promote North India Petro Chemicals Ltd (first respondent). The agreement was later cancelled by the appellant on 31 October …
The assessee, a partnership firm dealing in shares, bought all equity shares of a company in 1945 and treated those shares as stock-in-trade for tax purposes. When the company was liquidated, the liquidator distributed a surplus to the shareholders, and the assessee received Rs. 32,25,550. The …
United Bank of India sued the Official Liquidator of Naskarpara Jute Mills Ltd., which was in liquidation, to recover a debt and to prevent the sale of the mortgaged land. The High Court, acting under Section 535 of the Companies Act, ordered the liquidator to disclaimer the lease of the land on the …
The appellants, Stridewell Leathers Ltd., filed a petition under Sections 397/398 of the Companies Act, 1956 before the Company Law Board concerning Shoe Specialities Pvt. Ltd., whose registered office was in Madras. The Board, sitting in Delhi, passed an order which a shareholder appealed to the …
The Supreme Court examined the constitutional validity of the Chit Funds Act, 1982, challenged by various chit fund companies and individuals on the grounds that it infringed their right to carry on business under Article 19(1)(g) and that Parliament lacked legislative competence, alleging the Act …
The appellant holding company, which had received Rs 10 crore through chit subscriptions by its subsidiary, failed to pay the subscribers the promised prize money, leading to winding‑up proceedings against the subsidiary. The Kerala High Court held the winding‑up order in abeyance on the condition …
The appellants, promoters and directors of a public limited company, issued a prospectus inviting public subscription for shares, claimed that the application to list the shares on a stock exchange was rejected, yet retained the money collected from investors and transferred it to another company …
Karamchand Premchand Pvt. Ltd. set aside Rs 4,50,000 as a provision for a possible tax liability under Section 23A of the Income‑Tax Act, 1922. The company later claimed that this amount was a reserve and should be included in its capital for the purposes of Rule 1 of the Second Schedule of the …
Neptune Paper Mills Ltd was wound up and its assets were sold as a going concern to Buxa Holdings Ltd. The sale notice allowed the balance price to be paid in instalments to be fixed by the court. The purchaser was awarded an instalment schedule that the secured creditors (Industrial Finance …
The Supreme Court examined the constitutional validity of Chapter III‑C of the Reserve Bank of India Act, 1934 (Section 45S and Section 58B(5A)) introduced by the Banking Laws (Amendment) Act, 1983, which limit the number of depositors an individual, firm or unincorporated association may accept and …
Maharashtra Tubes Ltd., a steel pipe manufacturer, ceased operations in 1986 and sought financial assistance from the Board for Industrial and Financial Reconstruction (BIFR) in 1988. The BIFR, after hearings, held that the company was not a "sick industrial company" under the Sick Industrial …
Sewaram was elected to the Madhya Pradesh Legislative Assembly from Morena, but his opponent Sobaran Singh challenged the election alleging that Sewaram held contracts with the state government at the time of filing his nomination, which would disqualify him under Section 9‑A of the Representation …
Shree Chamundi Mopeds Ltd., a tenant of the Church of South India Trust, defaulted on rent and faced eviction under the Karnataka Rent Control Act. The company was also declared a sick industrial company by the Board of Industrial and Financial Reconstruction under the Sick Industrial Companies …
The Supreme Court considered two appeals arising from a dispute over a flat leased by Khandesh Spinning and Weaving Mills Ltd., which had gone into liquidation. The appellant, Smt. Nirmala R. Bafna, claimed a sub‑tenancy created in 1979 with the landlord’s oral consent and sought protection under …
Raymond Synthetics Ltd. and others issued a prospectus for a public issue of shares and debentures, seeking permission from several stock exchanges to list the securities. The company received massive oversubscription, allotted shares before the statutory 10‑week deadline for obtaining exchange …
The Supreme Court examined the constitutional validity of the Reserve Bank of India's 1987 directions regulating Residuary Non‑Banking Companies (RNBCs) under Sections 45J, 45K(3) and 45L of the RBI Act. The petitioners, a group of finance companies including Peerless, argued that the directions …
Indian Tube Co. transferred Rs 90 lakh to a dividend reserve in 1963, of which Rs 76 lakh was paid out as dividend and Rs 14 lakh remained. The issue was whether the transferred amount, or any part of it, should be treated as a reserve for computing the company's capital under the Companies …
Arvind Mills Ltd. imported plant and machinery from abroad and financed the purchase with a foreign loan. After the 1966 devaluation of the rupee, the rupee liability on the loan increased. The assessee claimed a development rebate under Section 33 of the Income‑Tax Act on the revised (higher) cost …
In a private limited company with 50 shares, two brothers each held 25 shares and orally agreed that any sale of shares would first be offered to members of the same family branch. The agreement was never incorporated into the Articles of Association. After the brothers' deaths, a son of one brother …
The appellants, former directors of a jute mill company, sought relief under Section 633 of the Companies Act, 1956 to be exempted from liability for delayed and non‑payment of Employees' Provident Fund dues. The Calcutta High Court had allowed a consent order permitting instalment payment and …
The appellant, a stage carriage operator, applied for renewal of his permit under Section 58(2) of the Motor Vehicles Act, 1939, and the application was duly notified. Before the renewal could be granted, the Motor Vehicles Act, 1988 came into force, repealing the 1939 Act. The respondent applied …
The appellant, a company in liquidation, sold its assets and invested the proceeds in fixed deposits, earning interest income. The liquidator incurred various expenses (salaries, legal fees, etc.) which the company sought to deduct from the interest under section 57(iii) of the Income Tax Act. The …
The Supreme Court examined whether the sale of 39 lakh shares of Larsen & Toubro Ltd. by public financial institutions to Trishna Investments through BOB Fiscal Services, and the Controller of Capital Issues' consent to a mega issue of convertible debentures (including a Rs.310 crore preferential …
The company Rajratha Naranbhai Mills Ltd. was ordered to be wound up on 26 June 1967 and the liquidator invited creditors to prove claims for priority under s.530(1)(a) of the Companies Act, 1956. The Sales Tax Officer claimed priority for sales tax and penalties, arguing that the assessment orders …
The appellant, Gokak Patel Volkart Ltd., filed criminal complaints under Section 630(1)(b) of the Companies Act, 1956 and Section 406 IPC against former employees who, after retirement, failed to vacate company quarters. The trial magistrate dismissed the complaints as time‑barred under the …
Saraswati Industrial Syndicate Ltd. (the appellant) claimed exemption from tax on Rs.58,735, a trading liability that had been allowed to the Indian Sugar Company before it was amalgamated into Saraswati in 1962. The Income Tax Officer and the Appellate Assistant Commissioner disallowed the claim, …
The Supreme Court considered appeals by Ashoka Marketing Ltd. and other tenants whose leases in premises owned by nationalised banks and the Life Insurance Corporation had expired and who were facing eviction under the Public Premises (Eviction of Unauthorised Occupants) Act, 1971 as well as …
Star Enterprises and other appellants submitted the highest monetary offers for lease of plots in response to a public tender issued by the City and Industrial Development Corporation (CIDC) of Maharashtra, a government company acting as a New Town Development Authority. The CIDC rejected these …
The Gram Panchayat sought to recover property tax from Shree Vallabh Glass Works Ltd., which had been declared a sick industrial company under the Sick Industrial Companies (Special Provisions) Act, 1985. The Board for Industrial and Financial Reconstruction (BIFR) had conducted an enquiry under …
Mahabir Auto Stores, a partnership firm that had been distributing Indian Oil Corporation's (IOC) lubricants since 1965, filed a writ petition under Article 226 seeking a mandamus directing IOC to continue supply after the corporation abruptly stopped deliveries on 27 May 1983. The High Court …
The partnership firm Keshavji Ravji & Co. paid interest to its partners on their capital credits and also received interest from the same partners on borrowings during the assessment year 1975-76. The Assessing Officer disallowed the interest paid to partners without setting off the interest …
World Wide Agencies Pvt. Ltd. and its director Mrs. Amrit Kaur Singh appealed against a Delhi High Court order that allowed the widow and children of the deceased shareholder S.K. Desor to file a petition under Sections 397 and 398 of the Companies Act, 1956 (and alternatively for winding up). The …
The respondent, Pradip Kumar Sarkar, lodged fully paid‑up shares with Luxmi Tea Co. for transfer to his name, but the Board of Directors refused to register the transfer. He filed an application under section 155 of the Companies Act, 1956 for rectification of the share register, which the Calcutta …
The respondent, an employee of Prathama Bank, was dismissed after a disciplinary inquiry in which he was not given adequate opportunity to examine the documents relied upon against him. He filed a suit challenging the validity of the inquiry and seeking reinstatement. The bank contended that the …
The appellant company, Jenson and Nicholson (India) Ltd., had taken a flat on a leave‑and‑licence basis for its employees. The first respondent, Atul Kalra, a divisional sales manager, signed the agreement as the company’s attorney and occupied the flat as an employee. After three years he filed a …
The petitioners, daily‑rated carpenters employed by the Himachal Pradesh State Handicrafts Corporation, filed a writ petition under Article 32 seeking "equal pay for equal work" with regular government carpenters or, alternatively, the minimum wages fixed by the Deputy Commissioner. The respondents …
Pyare Lal Sharma, a chemical engineer employed by Jammu & Kashmir Industries Ltd., was served a show‑cause notice on 21 April 1983 under the newly added grounds of unauthorised absence and participation in politics, and his services were terminated on 14 June 1983 by the Managing Director. Sharma …
Gujarat Steel Tubes Ltd., a manufacturer of black and galvanised steel tubes, challenged the Kerala tax authorities' assessment that its galvanised pipes were taxable under Entry 46 of the Kerala General Sales Tax Act. The company argued that the galvanised pipes were "declared goods" and should not …
The Supreme Court examined the validity of the Controller of Capital Issues' (CCI) consent to Reliance Petrochemicals Ltd.'s (RPL) issue of fully convertible debentures, which petitioners alleged was granted with undue haste, without proper application of mind, and in violation of non‑statutory …
The assessee, a Hindu Undivided Family, owned 90 shares of Shorrock Co. which was amalgamated into New Shorrock Co. under a court‑sanctioned scheme that allotted the assessee 45 shares of the new company for every two shares held in the old company. The Commissioner of Income Tax treated the receipt …
The appellant, Roop Chand, leased a building from Gopi Chand Thalia with a covenant not to sublet. He allowed the Lokpriya Social Club to occupy part of the premises for recreational activities, claiming he retained exclusive possession and received no rent. The landlord sued for eviction on the …
Testees Ltd. entered into contracts with Malaysia's National Electricity Board for transmission towers and registered them under the 1969/1970 cash‑assistance scheme. The company received assistance for some contracts but was denied for later contracts, the government arguing that exports made after …
SMT. Saiyada was allotted a parcel of land on licence by Hindustan Steel Ltd., a government company, but the licence was cancelled on allegations of encroachment and illegal construction. The company initiated eviction proceedings under the Public Premises (Eviction of Unauthorized Occupants) Act, …
Reliance Petrochemicals Ltd. obtained consent from the Controller of Capital Issues to issue a large public debenture offering and sought a transfer of multiple pending writs to the Supreme Court under Article 139A. The Court ordered the issue to proceed without hindrance and vacated earlier …
Esso Eastern Inc., later Hindustan Petroleum Corporation Ltd., occupied a flat in Shyam Co‑operative Housing Society on a leave‑and‑licence basis from 1968, with the licence renewed yearly. By 1 February 1973 a subsisting licence existed, rendering the occupier a "deemed tenant" under section 15A of …
The respondents, manufacturers of cycle lamps and automotive chains, sought to have the factory‑gate price treated as the assessable value for excise duty, arguing that their distributors were not "related persons" under Section 4(c) of the Central Excises and Salt Act, 1944. The Assistant Collector …
The Supreme Court considered multiple suits and special leave petitions concerning whether 10,00,000 shares in Swadeshi Polytex Ltd. and 17,18,344 shares in Swadeshi Mining & Manufacturing Ltd., held by Swadeshi Cotton Mills, along with certain immovable properties in Kanpur, vested in the Central …
The case concerned a company‑allotted flat that a former officer continued to occupy after retirement. The company sought prosecution under Section 630 of the Companies Act, 1956, which penalises officers or employees who wrongfully retain company property. The Supreme Court examined whether the …
The appellant filed a petition under Sections 397, 398 and 403 of the Companies Act, 1956 seeking determination of liabilities of Eastern Tea Estate (P) Ltd. The parties compromised, agreeing that no auditor would be appointed and that the Court would decide liability based on the 1973 balance …
The petitioner, a former joint manager of a government undertaking, was allotted a company flat during his service and was allowed to stay for six months after retirement on humanitarian grounds. He failed to vacate, prompting the Shipping Corporation of India to lodge a complaint under s.630 of the …
The Supreme Court examined whether the Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959 applies to government establishments and whether it obliges any employer to recruit only candidates sponsored by employment exchanges. It held that government offices are "establishments in …
Elgin Mills Ltd., a textile manufacturer, claimed that its investment reserve, rehabilitation reserve and forfeited dividend reserve should be treated as reserves for computing capital under the Companies Profits (Surtax) Act, 1964 for the assessment year 1964-65. The Income‑Tax Officer excluded all …
Laxmi Sugar & Oil Mills Ltd. had debited Rs 8,16,000 as a provision for additional cane price payable to cane‑growers under the Sugarcane Price Control Order, 1955, and shown it under "Current liabilities and provisions". The amount was later reversed and no actual payment was made. The Income‑Tax …
The assessee, a former partner of Larsen & Toubro and later Chairman of the company, was allotted a large number of right shares under Section 81 of the Companies Act, 1956. Over several years he bought and sold both right and ordinary shares, making a profit of Rs.1,65,581. The Income Tax Officer …
General Radio & Appliances Co. Ltd., the original tenant of a premises in Secunderabad, merged with National Ekco Radio and Engineering Co. Ltd. under a court‑sanctioned scheme of amalgamation under Sections 391 and 394 of the Companies Act, 1956. The landlord, M.A. Khader, sought eviction on the …
The Supreme Court examined whether the Central Inland Water Transport Corporation Ltd., a government‑owned company under section 617 of the Companies Act, qualifies as "the State" under Article 12 of the Constitution and whether clause (i) of Rule 9 in its service rules – which allows termination of …
The Supreme Court examined whether the surplus lands owned by Shree Sitaram Mills formed part of the "assets in relation to the textile undertaking" under sub‑section (2) of section 3 of the Textile Undertakings (Taking Over of Management) Act, 1983. The mill, a sick textile undertaking, had been …
The case concerned the purchase of shares in Escorts Ltd by thirteen overseas companies, predominantly owned by non‑resident Indians, under the Foreign Exchange Regulation Act, 1973 (FERA) portfolio investment scheme. The Reserve Bank of India (RBI) later granted permission for the purchases, which …
The Supreme Court examined a long‑standing dispute among members of the Sulakhe joint family concerning whether various incomes and assets derived from a partnership firm (Sulakhe & Co.) and a public limited company (Lokmanya Mills Ltd.) belonged to the joint family or to individual members. The …
The American Home Products Corporation (the appellant) applied in 1958 to register the trademark ‘Dristan’ in India, claiming it would be used by the appellant. In fact, the appellant intended the mark to be used in India by its Indian associate, Geoffrey Manners & Co., which would become a …
The Collector of Kanpur appointed a receiver over Swadeshi Cotton Mills Ltd. and ordered the seizure, attachment and pledge of its 10 lakh shares in Swadeshi Polytex Ltd. The Cotton Mills Company, together with four other shareholders, requisitioned an extraordinary general meeting of Polytex under …
The petitioners, tenants in a building owned by an Apex Co‑operative Society, challenged a 1976 notification issued under section 29 of the Tamil Nadu Buildings (Lease and Rent Control) Act, 1960 which exempted all buildings owned by co‑operative societies from the Act’s provisions. They argued that …
Sudarsan Chits (India) Ltd. was ordered to be wound up under the Companies Act, 1956, but the High Court held the winding‑up order in abeyance while a scheme of compromise was being implemented. The company sought a direction that the provisional liquidator file claim petitions under section …
The Union of India challenged a demand for differential excise duty on dyes manufactured by ATIC Industries Ltd., arguing that the definition of "related person" in the Central Excise and Salt Act, 1944 was unconstitutional and that ATIC's wholesale buyers, Atul Products Ltd. and Crescent Dyes & …
The appellants, five trade‑union workmen of Shree Synthetics Ltd., were dismissed after a domestic enquiry that found them guilty of assaulting a co‑worker. They challenged the dismissal before the Labour Court under Section 61 of the Madhya Pradesh Industrial Relations Act, 1960, which upheld the …
The Life Insurance Corporation of India (LIC) requisitioned the removal of certain directors of Escorts Ltd. under Sections 166 and 284 of the Companies Act, 1956, and gave notice for an extraordinary general meeting. The Bombay High Court, on a writ petition, stayed the notice, prohibiting any …
The appellant owned a sugar mill that had been permanently shut down before the Central Government issued an order under Rule 125A of the Defence of India Rules, 1962, taking over its management and appointing an authorised controller. The appellant argued that because the mill was closed and not …
The appellants, members of Commercial University Ltd (CUL), were prosecuted under Section 24 of the University Grants Commission Act, 1956 for continuing to use the word "University" and for conferring degrees after the Act came into force, despite CUL being incorporated under the Companies Act, …
The petitioners challenged the appointment of Shri B.P. Adhikari as Director of the Indian Statistical Institute (ISI) on the grounds that the ISI, being a body controlled by the Union Government, is a "state" or "other authority" under Article 12 and therefore subject to judicial review under …
The Supreme Court examined the interpretation of Section 4 of the Central Excises and Salt Act, 1944, both before and after its amendment by the Central Excises and Salt (Amendment) Act, 1973, to determine how the "value" of an excisable article should be computed for excise duty. The Court held …
The United Industrial Bank sued the Cotton Corporation of India seeking a declaration that the bank’s branch manager lacked authority to co‑accept usance bills and also obtained an interim injunction restraining the corporation from filing a winding‑up petition against the bank. The Bombay High …
Mahindra & Mahindra Ltd. (M&M) sought a declaration under Section 72A of the Income‑Tax Act, 1961, to carry forward the accumulated loss and unabsorbed depreciation of International Tractor Company of India Ltd. (ITCI) after their amalgamation. The Specified Authority, after a screening committee, …
The Official Liquidator, appointed to wind up Chit Centre Pvt. Ltd., took possession of the company's office premises and sought the court's direction on how to dispose of them. The Bombay High Court directed that the premises be let on a caretaker basis, leading the liquidator to enter a caretaker …
The petitioners, a group of companies, challenged the constitutional validity of Section 58A of the Companies Act, 1956 and Rule 3A of the Companies (Acceptance of Deposits) Rules, 1975, arguing that the mandatory 10% liquid asset requirement for deposits maturing in a year violated Articles 14 and …
The Executive Committee of Meerut College elected Shri J.D. Singhal as Honorary Secretary, but the Vice‑Chancellor set aside the election on the ground that Singhal was disqualified under section 39 of the Uttar Pradesh State Universities Act, 1973 because his brother, a lecturer in the college, …
The Official Liquidator instituted misfeasance proceedings under Section 543 of the Companies Act, 1956 against the directors of a company in liquidation, including Dr. S.N. Sinha. Dr. Sinha died intestate during the pendency of the suit, and his heirs and legal representatives were substituted in …
The case arose when a group of shareholders filed a winding‑up petition against Ramakrishna Industries Ltd. and obtained an interim injunction that threatened the payment of wages and supplies to the company's employees. Three trade unions representing the workers applied to be impleaded as …
The Maharashtra State Electricity Board (MSEB) invited tenders for supply of goods, allowing exemption from earnest money upon furnishing a Rs 50,000 bank guarantee. Cochin Malleables (in liquidation) gave such a guarantee through Canara Bank. When the Board demanded payment of Rs 50,000, the …
The Supreme Court examined whether sums appropriated by companies for taxation, retirement gratuity, and proposed dividends could be treated as "other reserves" for capital computation under the Super Profits Tax Act, 1963 and the Companies (Profits) Sur‑tax Act, 1964. It held that amounts set aside …
In a suit for specific performance filed in the original side of the Bombay High Court, the plaintiff sought the appointment of a receiver and an interim injunction. The single Judge dismissed the application, and the plaintiff appealed to a Division Bench, which held the appeal was not maintainable …
S.S. Dhanoa, an IAS officer, was deputed as General Manager of the Super Bazaars run by the Cooperative Store Ltd., a society registered under the Bombay Cooperative Societies Act. He was charged under the Prevention of Food Adulteration Act for selling adulterated honey and argued that he was a …
Needle Industries (India) Ltd. (NHL) was required by the Reserve Bank of India to reduce the foreign holding in its capital from 60% to 40% under the Foreign Exchange Regulation Act. To comply, the board resolved on April 6, 1977 to issue 16,000 rights shares at par and, on May 2, 1977, allotted …
The Federation of Indian Chambers of Commerce & Industry, a company registered under the Companies Act, claimed that its entire income for the year ended 31‑December‑1961 was exempt under section 11(1)(a) read with section 2(15) of the Income‑Tax Act, arguing that its activities – holding a trade …
The Supreme Court considered two distinct matters. In Official Liquidator v. Lakshmikutty, the Court held that Section 529 of the Companies Act, 1956 incorporates the set‑off rule of Section 46 of the Provincial Insolvency Act, so that where a creditor and a company in winding up have mutual …
The petitioners, comprising workers and a union, challenged the sale of redundant plants and equipment of the Sindri Fertilizer Factory, alleging procedural irregularities, price manipulation, and violation of their fundamental rights under Articles 19(1)(g) and 14 of the Constitution. They claimed …
The petitioners, owners of twelve sugar undertakings, challenged the constitutional validity of the U.P. Sugar Undertakings (Acquisition) Act, 1971, which transferred those undertakings to a government corporation. They argued that the State legislature lacked competence because sugar is a "declared …
The original owners of a plot in Saharanpur granted a permanent, transferable lease to Patel Mills Ltd. The company went into voluntary liquidation and its liquidator sold the lease‑hold interest to Benaras Bank Ltd., after which the company was dissolved under the Companies Act, 1913. The bank …
The Surat Art Silk Manufacturers Association, an incorporated company, was set up to promote commerce and trade in art silk yarn and cloth and to obtain import and export licences for its members. It earned income from member subscriptions, commissions on licences, and rent from a building it …
Alagappa Textile (Cochin) Ltd. entered into a five‑year financing and management agreement with Kamala Mills Ltd., under which Kamala Mills received remuneration for purchases, sales and management of the mill. The assessee claimed the remuneration as a deductible business expense under section …
