Supreme Court of India
M/s. Integrated Finance Co. Ltd. v. Reserve Bank of India Etc. Etc.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
1 Supreme Court bench has cited this judgment.
What the Court ordered
For the aforesaid reasons, we find no justification to B interfere with the judgment and order passed by the High Court.
Judgment, page 50
From the headnote
c Companies Act, 1956 - s.391 - Appellant, a Non- Banking Finance Company (NBFC) - RBI inspected the books of accounts of appellant-company- Inspection report disclosed violations of the provisions of the RBI Act - RBI issued notice to appellant-company - It started facing problems in running its operations because of drop in its -( profitability - Appellant-company proposed scheme of compromise with its creditors, viz. the depositors and bond holders - Petition seeking approval of the compromise . scheme under the Companies Act - Dismissal of, by High Court - Justification - Held: Justified…
Authorities it was built on
- 2012 Jik Industries Limited & Ors. v. Amarlal V. Jumani and Another
- 2006 Icici Bank Ltd. v. Sidco Leathers Ltd. and Ors.
- 2008 Tata Motors Ltd. v. Pharmaceutical Products of India Ltd. & Anr.
- 2002 M/s. Haridas Exports v. All India Float Glass Mfrs. Association and Ors.
- 1968 J. K. (bombay) (p) Ltd. v. New Kaiser-i-hind Spg. & Wvg. Co. Ltd. & Ors. Etc.
- 2005 Administrator of the Specified Undertaking of the Unit Trust of India v. Garware Polyster Ltd.
Where later benches applied it
Of those, 1 referred to
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