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6 judgments · newest first · showing 1–6
The appellant and respondents, siblings of a deceased father who was also a joint family manager, were parties to a partition suit concerning family property. While the suit was pending, the father executed a registered will bequeathing his one‑fourth share to the respondent, and subsequently died. …
Allahabad Bank obtained a decree against M.S.Shoes (East) Co. Ltd. before the Debt Recovery Tribunal (DRT) under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, and the Recovery Officer sold the company's assets. Canara Bank, whose claim was pending before the same DRT, …
The appellants, sons of Nihal Chand, challenged a declaration by the Official Receiver that the insolvent partner Chiranjee Lal held a one‑third share in certain properties. They argued that the Receiver’s 1966 application under Section 4 of the Provincial Insolvency Act was barred by the six‑year …
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 …
The Karta of a joint Hindu family, K.V. Purushotham, incurred large debts in a personal fungi business and, together with his brother, executed a sale deed on 22 August 1955 transferring almost the entire family property for a nominal Rs.16,500, purportedly to discharge those debts. The sons of the …
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 …
