TaxTMI 
TaxTMI 
1960 (2) TMI 32
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....53-C of the Companies Act, 1913, before that Act was repealed on April 1, 1956, as hereinafter mentioned, for certain reliefs which it is not necessary to state. This Act will be referred to as the Act of 1913. This application had been made to the Court of the District Judge of Poona, which court had been empowered to exercise jurisdiction: under the Act of 1913, by a notification issued by the Government of Bombay under section 3(1) of that Act. Before the application could be disposed of by the District Judge, Poona, the Act of 1913 was repealed and re-enacted on April 1, 1956, by the Companies Act of 1956, which will be referred to as the Act of 1956. On or about June 28, 1956, the appellant made an application to the District Judge ....
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....ses Act provides that where an Act is repealed, then, unless a different intention appears, the repeal shall not affect any right or liability acquired or incurred under the repealed enactment or any legal proceeding in respect of such right or liability and the legal proceeding may be continued as if the repealing Act had not been passed. There is no dispute that section 153-C of the Act of 1913 gave certain rights to the shareholders of a company and put the company as also its directors and managing agents under certain liabilities. The application under that section was for enforcement of these rights and liabilities. Section 6 of the General Clauses Act would, therefore, preserve the rights and liabilities created by section 153-C of t....
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....been passed, but section 555(7) of the Act of 1956 will apply in respect of moneys paid into the companies liquidation account. All that this section does is to make the provisions of the repealed Act applicable to the winding up notwithstanding the repeal. The provisions of section 555(7) need not be referred to as they do not affect the question. Section 647 of the Act of 1956, therefore, indicates no intention that the rights created by section 153-C of the Act of 1913 shall be destroyed. Nor is the argument tenable that since by section 647 the Act of 1956 expressly makes the repealed Act applicable to a winding up commenced under it, it impliedly indicates that in other matters the repealed Act cannot be resorted to, for, in view of se....
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....re-enacted with or without modifications, then, unless it is otherwise expressly provided, any notification issued under the repealed Act shall, so far as it is not inconsistent with the provisions re-enacted, continue in force and be deemed to have been issued under the provisions so re-enacted unless and until it is superseded by a notification issued under those provisions. Mr. Banaji points out that in view of section 10 of the Act of 1956 a District Court can no longer be empowered to deal with an application of the kind made to the District Judge of Poona, as that application asks for reliefs similar to those contemplated by sections 397 to 407 of the Act of 1956 and also asks for the winding up of a company whose paid-up capital e....