Companies Act 1956 Archives

[Harmonious Construction] Section 529A of Companies Act, 1956 would prevail over Income Tax Act, 1961: Madhya Pradesh High Court

“…the Act of 1956 is a special Act which govern the law regarding companies only whereas IT Act is a general Act which percolates in just about every sphere of life and is applicable to all the citizen of India when it comes to payment of Income Tax.”

Case Briefs Supreme Court

Rectificatory jurisdiction under Section 111A of the Companies Act, 1956 cannot be invoked for violation of SEBI Regulations: Supreme Court

The Supreme Court observed that the important role of the Regulator cannot be circumvented by simply asking for rectification under Section 111A of the Companies Act, 1956.

Case Briefs Supreme Court

Not just the petitioning creditor but ‘any’ creditor can initiate transfer of winding up proceedings from a Company Court to NCLT; holds SC

Proceedings for winding up of a company are proceedings in rem to which the entire body of creditors is a party, hence, by a deeming fiction the petition by even a single creditor is treated as a joint petition.