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1 - 10 of 13 (0.23 seconds)Section 434 in The Companies Act, 1956 [Entire Act]
Section 41 in The Companies Act, 1956 [Entire Act]
Wimco Ltd. vs Sidvink Properties (P.) Ltd. on 15 March, 1994
Referring to the judgment of this court in the case of Wimco Ltd. v. Sidvink Properties (P) Ltd. reported in (86) 1996 Company Cass 610 (Delhi), he submitted that merely because the company did not reply to the communication or the statutory notice, it would not amount to admission of liability and it was still obligatory on the part of the petitioner to establish that the debt exits.
Resham Singh & Co. P. Ltd. vs Daewoo Motors India Ltd. on 13 November, 2002
16. In the light of these circumstances appearing against the company, no credence can be given to the two certificates of the Chartered Accountants produced by the respondent company at this stage and, therefore, I am of the prima facie view that the company is indebted to the petitioner. The defense of the company to the effect that it is a solvent company will also be no assistance to it at this stage in view of the judgment of this court in the case of Resham Singh and Co. Pvt. Ltd. v. Daewoo MotorsIndia Ltd., 102 (2003) DLT 188 wherein it was held as under :
Nepc India Ltd. vs Indian Airlines Limited on 21 August, 2002
I have observed in NEPC India Limited v. Indian Airlines Limited, 100 (2002) Delhi Law Times 14, that in winding-up proceedings it is necessary to keep the following conditions in perspective--
The Securities and Exchange Board of India Act, 1992
Balkrishan Gupta And Ors vs Swadeshi Polytex Ltd. And Anr on 12 February, 1985
In Balkrishan Gupta (supra), the Supreme Court held that for any other person, who becomes a member, two conditions must be fulfillled. (1)There is an agreement to become a member; and (2) that his name is entered in the register of members of the company. Both the conditions are cumulative. The word `inriting' which were added in sub-section (2) of Section 41 by amendment Act of 1960 indicate, by necessary implication, that an application for allotment of shares should be made in writing.
Section 439 in The Companies Act, 1956 [Entire Act]
Manabendra Shah vs The Official Liquidator, Indian ... on 5 May, 1975
That is the interpretation given by this court as well in the case of H.H.Manabendra Shah (supra). Clause 4.6.7 of SEBI guidelines also provides that security for which a specific written consent has not been obtained from the respective shareholders for inclusion of their subscription in the minimum promoters contribution subject to lock-in shall not be eligible for promoters contribution.