Registrar, learned counsel submitted
that if the company has passed resolution under
Section 391 of the Companies Act, no separate
resolution is required ... compromise and arrangement
is proposed by the petitioner-company under
Section 391(1) of the Companies Act, 1956. The
composite scheme is produced at Annexure
Section 4 is considered then it could be held that the right to file an application under Section 391(1) of Companies Act was under ... provisions of Section 391(1) and 391(6) of the Act, the protection is resultant effect of the entire scheme of the Act
learned Company Judge failed to appreciate that the Companies Act,
1956 read with Companies Act, 1959 still survive in view of the
Companies (Removal ... whether the Company Court retains
the jurisdiction over the Company Application filed under the provision
of Section391 of the Companies Act, 1956 in respect
constituted under Section 391 of the Act, it would be necessary as to what Section 391 of the Act provides:
Section 391 . Power to compromise ... Act, cannot be precluded because of Section 4(1)(iv) of B.R.U. Act, from approaching Company Court under Section 391 of the Act
Acts
RDB Act and SFC Act covering the aspect dealt with Section 391 to
Section 394 of the Act of 1956 for modification ... Act or Section 29 and Section 46B of the SFC Act over
Section 391 to Section 394 including Section 391(6) of the Act
Section 391 should not be allowed to be frustrated. He also
submitted that provision under Section 391 and Section 19 of RDB Act
or Section ... section (6) of
Section 391 of the 1956 Act is in aid of Section 391(1) , hence,
during pendency of an application under Section 391
public limited company incorporated under the Companies Act filed Company Application No. 136 of 1969 on 24th October, 1969, under section 391 ... filed a substantive petition being Company Petition No. 12 of 1970, under section 391(2) of the Companies Act on 16th April, 1970. This petition
said section's real purport and its effect.
29.
The Court has express powers under Section 391 of the Companies Act
1956 to decide ... revival of
the company under liquidation. The proposal needs to be genuine and
viable. The Section 391 of the Companies Act 1956, reads thus:-
Sec
under section 391 before the company court, sub- section (6) of section 391 cannot be utilised for staying criminal proceedings against the company for which ... company, by putting a proposal before the court, under section 391 , seek the protection of the court under sub- section (6) of section 391
Company Petition No. 10 of 2006 has been filed under Sections 78 , 100 , 391 and 393 of the Companies Act, 1956 (the Act for short ... that liabilities should be first ascertained under the scheme under Section 391 of the Act.
(iii) The Bank in respect of amounts paid
