Viswapriya Financial Services & ... vs Income Tax Officer on 14 February, 1996
Equivalent citations: [1997]60ITD401(MAD)
ORDER
G. Chowdhury, J. M.
1. Since ... book. Thereafter the funds go to the accounts of the scheme, namely Viswapriya Funds Management - A/c Bank Guaranteed Investments. This account will be operated
Viswapriya Financial Services And ... vs Securities And Exchange Board Of India on 23 August, 2004
JUDGMENT
Kumar Rajaratnam, J. (Presiding Officer)
1. The review petition
Viswapriya Financial Services And ... vs Securities And Exchange Board Of India on 8 July, 2004
JUDGMENT
Kumar Rajaratnam, J. (Presiding Officer)
1. Appeal taken ... consent of parties. This appeal is confined only to the appellant company Viswapriya Financial Services & Securities Ltd. and a common order is passed with
purchase of its own shares through a circuitous financing arrangement with Viswapriya Group.
2. Investigations revealed that State Bank of India, Ashram Road, Ahmedabad ... applications for an aggregate of 31,20,000 shares of REL with Viswapriya Financial Services & Securities Ltd. (VFSL) as Power of Attorney holders
purchase of its own shares through a circuitous financing arrangement with Viswapriya Group.
2. Investigations also revealed that Tamilnadu Mercantile Bank, BVK Iyengar Road Branch ... applications for an aggregate of 31,20,000 shares of REL with Viswapriya Financial Services & Securities Ltd. (VFSL) as Power of Attorney holders
High Court
considered the decision of the Madras High Court in Viswapriya
relied on by Mr Ghosal for the Revenue in the instant case ... held that the nature of the assessee's business in Viswapriya
involved a return on investment made by the investor which
was assured
judgment of Hon'ble
Jurisdictional High Court in the case of Viswapriya Financial Services
and Securities Ltd vs. CIT 258 ITR 496, ld. Assessing ... account of any
borrowings or debt.
(iv) Facts in the case of Viswapriya Financial Services and
Securities Ltd (supra) decided by the Jurisdictional High
Court
subscription to the public issue of IFSL was created by M/s. Viswapriya Financial Services and Securities Ltd (hereinafter referred as 'VFSSL'), apparently ... intercourse is the securities market. In the instant case, the associate of Viswapriya (Prime Advance) applied in the public issue of IFSL, were allotted shares
purchase of its own shares through a circuitous financing arrangement with Viswapriya Group.
2. Pursuant to these findings and allegations of violations of the Companies ... applications for an aggregate of 31,20,000 shares of REL with Viswapriya Financial Services & Securities Ltd. (hereinafter referred to as "VFSL
purchase of its own shares through a circuitous financing arrangement with Viswapriya Group.
2. Pursuant to these findings and allegations of violations of the Companies ... applications for an aggregate of 31,20,000 shares of REL with Viswapriya Financial Services & Securities Ltd. (hereinafter referred to as "VFSL
