Merely because a financial loss would be suffered by the appellant qua the arbitration Awards which had been passed against him would not entitle him to come under the exception seeking a refusal of the restoration of the company. The position of the company vis-à-vis this stand is that a healthy company who was admittedly [...]

In the present case, there were undoubtedly three separate contracts entered into between the parties. One was for the supply of cables and the other two for supply of accessories, i.e., Jumpers, Connectors and Surge Arrestors. Both the parties have been dealing with each other for over seven years. The Petitioner itself being the manufacturer [...]

Regard being had to the statement of objections the answer to the question as to whether the bearings supplied by the petitioner to the respondent were, in fact, defective or not being a pure question of fact requires an adjudication after a trial. Hence the defence is not a moonshine defence. Since a triable issue [...]

Non-transparent functioning of the R-I Company is evident from the correspondence produced by the petitioners who have been denied access to the statutory Records and the A/c books despite holding 52.94%, shares in the R-I Company. Huge amounts owed by Diastar Inc. USA to the R-I Company, admittedly a concern of R-2 & R-3, have [...]

It was observed by the CLB that if the Appellants failed to cooperate with NHEL for the determination of the value of the occupied premises, including land, plant and machinery and do not accept the fair value of the assets determined, the petition shall be deemed to have been dismissed. The impugned order thus makes [...]

Circular No: 08/2013 , Dated-10/04/2013 Sub: – Relaxation of additional fees and extension of last date in filing of various forms with the Ministry of Corporate Affairs-reg. In continuation of the Ministry’s. General Circular No: 03/2013 dated 08-02­-2013 and 07/2013 dated 20-03-2013 on the subject cited, I am directed to inform you that with the [...]

So far exercise of jurisdiction vested upon the Company Court under Section 446(2) of the Act is concerned, in my view and also in view of the decisions cited by the learned Counsel appearing for the applicant, it is already settled that this Court have ample power to adjudicate and determine all questions that arises [...]

Having accepted the fact of hiring laptops and other peripherals from the petitioner and acknowledging the receipts and invoices and also the cost of the unreturned 20 laptops for which no valid defence has been placed by the respondent, the defence taken in the statement of objections is contrary to materials placed in Annexure-A to [...]

Since the company’s counterclaim is by way of an unliquidated sum in damages, and the company has no defence to the petitioner’s claim herein, the company is permitted to furnish security to the extent of the petitioner’s claim of Rs.1,41,38,347/- within a fortnight from date whereupon this petition will remain permanently stayed. The company says [...]

Law is well-settled that in cases where the company court sells the properties in accordance with various provisions of the Companies Act and the Rules framed thereunder, such sale can be interfered with only in cases where there is a total irregularity or the sale is effected against the provisions of the Companies Act or [...]