Supreme Court · 1981 INSC 111 · Decided 7 May 1981
Needle Industries (India) LTD., & ORS. v. Needle Industries Newey (India) Holding LTD. & ORS.
- Court
- Supreme Court of India
- Citation
- 1981 INSC 111 · [1981] 3 S.C.R. 698
- Case number
- CIVIL APPEAL No. 2139/1978
- Decided
- 7 May 1981
- Bench
- Y.V. CHANDRACHUD, P.N. BHAGWATI, E.S. VENKATARAMIAH (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 3(1)(iii), 43A, 45, 81, 299(1), 300(1), 397
Headnote
D E F G H NEEDLE INDUSTRIES (INDIA) LTD., & ORS. v. NEEDLE INDUSTRIES NEWEY (INDIA) HOLDING LTD. & ORS. May 7, 1981 [ Y.V. CHANDRACHUD, C. J., P.N. BHAGWATI AND E.S. VENKATARAMIAH, JJ. ] Companies Act 1956, Ss. 3(1) (iii), 43A, 45, 81, 299(1), 300(1), 397 and _.. 398and Foreign Exchange should be reduced-Reduction effected by issue of new rights shares-Such shares to be offered to all shareholders Indian as well as the holding company-Shares however allotted to on~v Indian sharehol­ ders-Notice of meeting 'at which allotment made not properly given to holding company-Ho/ding
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)