Sick Industrial Companies Act, 1982 and Section 402 of the
Companies Act, Mr. Divan has submitted that Chapter V of the Companies
Act provides another ... applicable to Sections 391-394 of the Companies Act.
51. The Companies Act as well as the RBI Act are Central Acts. Chapter
IIIB, which
purpose of Sections 391 and 393 , Section
390 clarifies that Company means any Company liable to be
wound up under the Companies Act . SCML ... Section 391 Sub-section
(1).
5. That all the requisite material
contemplated by the proviso of Sub-section
(2) of Section 391 of the Act
under Section 391
of the Companies Act, 1956 (hereinafter `Companies
2
Act') does not amount to compounding of an offence
under Section 138 read ... dissenting minority, the company as also
the liquidator if the company is under winding up.
Therefore, Section 391 of the Companies Act gives
very wide
Companies Act.
According to him, Section 392 of the Act had no predecessors
either in English Law or in the Companies Act ... absent in Section 391 , so
that companies falling within Section 391 , but not within
Section 394 , would not be amenable to the Company Court
applicant transferee-company MIL
to amalgamate in it the transferor-company MFL under Section
391(2) of the Companies Act, 1956 (hereinafter referred ... Section 391 sub-Section (1).
5. That all the requisite material contemplated by the
provision of sub-Section (2) of Section 391 of the Act
391 and 394 of the Companies Act, 1956
on 28.9.1962 one Indian Sugar Company was amalgamated with
the appellant-assessee company. The transferor company ... companies was effected under the order of the
High Court in proceedings under Section 391 read with Sec-
tion 394 of the Companies Act
High Court under Section 394 of the
Companies Act in respect of amalgamation of the companies. Section 394 of
the Companies Act reads ... Section
391 sub-section (1).
5. That all the requisite material contemplated by the
proviso of sub-section (2) of Section 391 of the
Act
filed by the
Indian Company before the Bombay High Court under Sections 391 and
394 of the Companies Act which was allowed ... view of this direction, a Company Petition was filed under
Sections 391 and 394 of the Companies Act in the Bombay High Court for
sanctioning
provisions of the Sick Industrial
Companies (Special provisions) Act, 1984 (SICA) vis-`-vis the Companies
Act, 1956 (1956 Act) is in question in this appeal ... amalgamation of a company owning an industrial
undertaking with another company."
The Companies Act, 1956
Section 391 of the Companies Act, 1956 reads
dated 12.1.1959 filed a
company petition, before the Bombay High Court, under
sections 391 and 394 of the Companies Act praying for an
order sanctioning ... Companies
Act 1913 which corresponds to ss. 391 and 394 of the
Companies Act, 1956 has been very succinctly stated in the
case of Sahayanidhi
