Back
S.BALASUBRAMANIAN
Aska Investments (P. ) Ltd. – Appellant
Versus
Grab Tea Co. Ltd. – Respondent
1. In this order, I am considering three petitions, CP 72 of 2000 filed under sections 397/398, CP 5(111A)ERB/2000 filed under section 111A and CP 46 of 2001 filed under section 543/544 of the Companies Act (the Act) as all these petitions were heard together.
2. The petitioners claiming to hold 14.12% shares along with those who have given their consent have filed the petition CP 72/2000 under section 397/398 of the Companies Act, 1956 (the Act) with the main allegation that the respondent directors managing the affairs of M/s. Grab Tea Company Limited (the company) are guilty of siphoning off the funds of the company to a tune of more than Rs. 1 crore. According to them, the Income-tax Authorities conducted a search and seizure operation and ordered a block assessment for 10 years as a result of which the company became liable to pay Rs. 66.28 lacs as tax towards undisclosed income and therefore, the undisclosed amount should have been more than Rs. 1 crore and this amount should have been siphoned off by the respondent directors. This is the main allegation in the petition.
3. The respondents have raised a preliminary objections on the maintainability of this petition in ter
The main legal point established in the judgment is the binding effect of the settlement between the parties, the waiver of the right to seek re-employment by the workmen, and the entitlement of the ....
A lockout is justified if it is declared in response to an illegal strike or a strike that is in breach of a settlement or award.
The combination of eyewitness testimonies, recovery of the weapon used, and forensic examination results can establish guilt in criminal cases, even based on circumstantial evidence.
The conviction of an accused person under Section 27(3) of the Arms Act is not permissible in law if the accused is also charged with committing murder under Section 302 of the Indian Penal Code.
The court can enhance compensation based on the deceased's income and family dependency, and adjust the multiplier used by the Tribunal if found unjustified.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
