REGENT COMPUTRONICS PVT. LTD.

NEW CENTRAL JUTE MILLS CO. LTD. Appellant

V/S

DEPUTY SECRETARY, MINISTRY OF DEFENCE Respondents

Referred Judgements :-

HUTH V. CLARKE [REFERRED TO]
REX V. ELECTRICITY COMMISSIONER [REFERRED TO]
ROBERTS V. HOPWOOD [REFERRED TO]
REX V. THE LONDON COUNTY COUNCIL [REFERRED TO]
COOPER V. WILSON [REFERRED TO]
HEARTS OF OAK ASSURANCE CO. LTD. V. THE ATTORNEY GENERAL [REFERRED TO]
NAKKUDA ALI V. JAYARATNE [REFERRED TO]
KING EMPEROR V. SHIBNATH BANERJEE [REFERRED TO]
BLACKPOOL CORPORATION V. LOCKER [REFERRED TO]
GORDON,DADDS AND CO. V. MORRIS [REFERRED TO]
METROPOLITAN BOROUGH AND TOWN CLERK OF LEWISHAM V. ROBERTS [REFERRED TO]
PROVINCE OF BOMBAY V. KUSALDAS S.ADVANI [REFERRED TO]
ASSOCIATED PRESS PICTURE HOUSE LTD. V. WEDNESBURG CORPORATION [REFERRED TO]
MILES AIRCRAFT LTD. [REFERRED TO]
RIDGE V. BALDWIN [REFERRED TO]
ROSS CLUNIS V. PAPADOPOULLOA [REFERRED TO]
MUNGONI V. ATTORNEY-GENERAL OF NORTHERN RHODESIA [REFERRED TO]
VINE V. NATIONAL DOCK LABOUR BOARD [REFERRED TO]
TARAPRASANNA BHANJA V. UNION OF INDIA [REFERRED TO]
SAHU JAIN LTD. V. DY. SECY. [REFERRED TO]
R. V. MANCHESTER LEGAL AID COMMITTEE [REFERRED TO]
DWARKA NATH VS. INCOME TAX OFFICER SPECIAL CIRCLE D WARD KANPUR [REFERRED TO]
RAJA NARAYANLAL BANSILAL VS. MANECK PHIROZ MISTRY [REFERRED TO]
BOARD OF HIGH SCHOOL AND INTERMEDIATE EDUCATION U P ALLAHABAD VS. GHANSHYAM DAS GUPTA [REFERRED TO]
DALURAM PANNALAL MODI VS. ASSISTANT COMMISSIONER OF SALES TAX INDORE [REFERRED TO]
TIRTHALAL DE VS. STATE OF WEST BENGAL [REFERRED TO]
SWAP AN RAY CHAUDHURI VS. KHAGENDRA NATH SEN [REFERRED TO]
COIMBATORE SPINNING AND WEAVING CO VS. M S SRINIVASAN CHARTERED ACCOUNTANT COIMBATORE [REFERRED TO]
N P S N RAMIAH NADAR VS. N K R AMIRTHARAJ [REFERRED TO]
MALEDATH BHARATHAN MALYALI VS. COMMISSIONER OF POLICE [REFERRED TO]

JUDGEMENT

(1.) The Indian Companies Act, 1913, which was extensively amended in 1936 and thereafter further amended from time to time, called for a drastic revision after the end of World War II. "Apart from the experience gained in the actual working of the Act, which threw up many points necessitating its amendment, large changes had taken place in the organization and working of joint stock companies, and over a wide sector that was dominated by new elements in trade and industry, the character of Company management had also materially altered. In many cases conventional methods of Company management were discarded in favour of less orthodox and more venturesome techniques which the existing Company law was unable to control adequately." (Report of the Company Law Committee 1952, p. 3). The lacunae in the Act left the way open to some business men to misuse and at times to pervert the provision of the law to serve their private ends.

(2.) So long as the Second World War lasted the pull of war economy on domestic production masked these malpractices but the end of the war exposed them to the full view of an increasingly critical public. Thus arose the demand for amendment of the Indian Companies Act particularly on the following aspects :-

(3.) The demand for drastic revision was sought to be met by enacting the Companies Act, 1956, which came into operation from April 1, 1956. The new Act has also been several times amended, during the first decade of its operation, so as to plug the holes and escape routes, as and when those came to notice. Sections 209(4) of the new Act contains provisions for inspection and Sections 235 to 251 contain provisions for investigation.

Click here to view full judgment.

NEW CENTRAL JUTE MILLS CO LTD Vs. DEPUTY SECRETARY MINISTRY OF DEFENCE

Referred Judgements :-

JUDGEMENT

QUick Links

Get in Touch

Email

Contact Numbers

Address