Court : Mumbai
Reported in : 2010(1)BomCR294
..... endowments from its application and, therefore, the apex court in para (15) of its judgment in the case of thayarammal (cited supra) has observed that the indian trusts act as clear by its preamble and contents is applicable only to private trusts and not to public trusts.12. the division bench of this court in case of sarda education trust (cited supra ..... recent decision of the apex court in the case of thayarammal (cited supra) assumes importance, which has been rendered by the apex court keeping in view the preamble and provisions of the indian trusts act and held that it is applicable only to the private trusts and not to the public trusts. the apex court has rendered decision in the case of ..... ) considered preamble and section 1 of the indian trusts act, 1882 as well as law laid down by the apex court in the case of thayarammal and observed that provisions of sections 47 and 48 of the ..... , anjangaon to decide the application afresh in accordance with law.the division bench of this court after taking into consideration the pros and cons as well as preamble and section 1 of the indian trusts act, 1882 as well as decision of the apex court in the case of thayarammal (cited supra) held that provisions of sections 47 and 48 of the .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1951SC41; (1951)53BOMLR499; 21CompCas33(SC); 1SCR869
..... certain section of the community and that an emergency has arisen which renders it necessary to make special provision for the proper management and administration of the aforesaid company'. this preamble was not reproduced in the impugned act. section 3 empowers the central government to appoint as many persons as it thinks fit to be directors of the ..... actually and palpably unreasonable and arbitrary' and thereby discharging the initial onus. 91. the act is intituled an act to make special provision for the proper management and administration of the sholapur spinning and weaving company, limited. there is not even a single preamble alleging that the company was being mismanaged at all or that any special reason existed which made it expedient ..... detail. 71. on january 9, 1950, the governor-general of india, acting under section 42 of the government of india act, 1935, promulgated an ordinance, being ordinance no. ii of 1950, concerning the sholapur spinning and weaving company, limited, (hereafter referred to as the said company). the preambles and the provisions of the ordinance have been referred to in the judgment just ..... to enact this law. the act, on its face, does not purport to make any classification at all or .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1984SC127; [1984(48)FLR448]; 1984LabIC691; (1984)ILLJ368SC; 1984(1)SCALE539; (1984)3SCC127; 3SCR252; 1984(16)LC500(SC)
..... , the only properly called schemes sanctioned under section 16(1) are those four merger schemes of 1973 as would be evident from the preamble to the act.19. the petitioners further contend that under the life insurance corporation act, banking companies act. etc. there were powers to frame regulations independently of reorganisation. but there is no such power, according to the petitioners, under the general ..... the employees. on 13th may, 1971, the government of india assumed management of the general insurance companies under the general insurance (emergency provisions) act, 1972. the general insurance business was nationalised by the general insurance business (nationalisation) act, 1972 (act 57 of 1972). the preamble of the act explains the purpose of the act as to provide for the acquisition and transfer of shares of indian insurance ..... companies and undertakings of other insurers in order to serve better the needs of economy in securing development of general insurance business in the .....Tag this Judgment!
Court : Kerala
Reported in : AIR1962Ker267
..... the essential policy underlying the statute and the object intended to be achieved by it.126. no doubt, in the preamble to the banking companies act it is only stated:'it is expedient to consolidate and amend the law relating to banking companies.'but the absence of any other matter in the pre-amble does not really affect the question, as will be ..... law relating to banking companies.69. the passing of this enactment relating to banking companies is also in accordance with the recommendation of the committee already referred to.70. section 3 ..... t'he indiscriminate opening and removal of branches by banking companies. section 3(1) provided that no banking company shall open a new branch or change the location of an existing branch without obtaining prior permission in writing from the reserve bank.68. then comes the banking companies act, 1949. -- act x/1949. the preamble stages that it is expedient to consolidate and amend the ..... the object intended to be achieved by it and in this process, the preamble to the act and its material provisions can and must be considered. therefore, to find out the policy underlying the statute and the object intended to be achieved by it, the provisions of the banking companies act in this case, can and must be considered, i have already, after .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR2001SC1493; JT2001(3)SC554; 2001(2)SCALE586; (2001)5SCC212; 2001(2)SCT656(SC); (2001)2UPLBEC1232
..... of undertakings. section 8 provides for provident fund, superannuation, welfare or any other fund existing. section 9 stipulates that central government shall form a government company in accordance with the provisions of the companies act to be known as 'general insurance corporation of india' for the purpose of superintending, controlling and carrying on the business of general insurance. section ..... or not necessitated by re-organisation of the business or merger or amalgamation of the companies could not fall within section 16(1)(g) of the act. it was also noticed by this court that under the life insurance corporation act and banking companies act provisions have been made to frame regulations independently of the re-organisation and there is ..... 1971, the government of india assumed the management of the general insurance companies under the act pursuant to an ordinance issued at that time. the preamble of the act explains the purpose of the said act as to provide for the acquisition and transfer of shares of indian insurance companies and undertakings of other insurers in order to serve better the needs of ..... various schemes framed under the general insurance business (nationalisation) act, 1972 (act 57 of 1972) as amended from time to time (hereinafter referred to as 'the act'). 2. the preamble to the act explains the purpose of the act as to provide for the acquisition and transfer to shares in the indian insurance companies and undertakings of other insurers in order to serve .....Tag this Judgment!
Court : US Supreme Court
..... 438 . the wisdom of the rule adverted to is well illustrated by the present case. neither the title nor the preamble of the act of 1876 suggests the purpose on the part of the coosaw mining company, or of any other association or corporation, to obtain, or the intention of the legislature to grant, a new right ..... 102 u. s. 1 , 102 u. s. 11 -12. so, in beard v. rowan, 9 pet. 301, 34 u. s. 317 : "the preamble in the act may be resorted to to aid in the construction of the enacting clause when any ambiguity exists." the ambiguity here referred to is not simply that arising from the ..... and phosphatic deposits of that part of the said coosaw river; therefore, in consideration thereof," "sec. 3. that the said coosaw mining company, on accepting the terms of this act within ten days from the passage thereof, shall thenceforth have the exclusive right to occupy and dig, mine, and remove phosphate rock and ..... accepted by the parties named therein." turning to the preamble, which has been said to be a key to open the understanding of a statute, we find that the occasion of the passage of the act of 1876 was a dispute between the coosaw mining company and the comptroller general of the page 144 u. ..... the right of that company to dig, mine, and remove phosphate rock and phosphatic deposits, but only as to the times and manner in which it should make its returns and pay the prescribed royalty, and that "for remedy thereof" the act was passed. neither the title nor the preamble indicates a purpose to .....Tag this Judgment!
Court : US Supreme Court
..... . s. 665 , approved and applied. the case, as stated by the court in its opinion, was as follows: the yazoo and mississippi valley railroad company was incorporated by an act of the mississippi legislature approved february 17, 1882, the preamble and sections 2, 8, 13, and 14 being as follows: "whereas, the construction of railroads to, in, through, and along the mississippi river ..... be taxed until the period of exemption, whatever that is, shall have expired; for that ignores the real inquiry, which is as to when the exemption commences. again, the preamble to the act is referred to by counsel, as sustaining their construction, because it is therein declared that the work is one of "great public importance," and "to be encouraged by legislative ..... should not be subjected to taxation, but upon the ground that the exemption claimed could not be allowed. the taxes in question were assessed under the act of 1888, and if the charter of the company, which became a law on the 17th of february, 1882, inhibited such taxation, then this court has jurisdiction to reexamine the conclusion reached. although by the ..... business in or out of the state, and establish such offices as they deem best in or out of the state, and all acts done by said company, its officers or agents, out of the state shall be of the same force and effect as if done within the state. by the code of mississippi of 1880, under .....Tag this Judgment!
Court : SEBI (Securities & Exchange Board of India) / Securities Appellate Tribunal (SAT)
..... me appears to be concurrent. there is no inhibition of any sort on exercising measures for investor protection by the respondent in view of the specific mandate given by the act. the companies act does not carve out an exclusive jurisdiction for itself to the exclusion of other authorities in the field of investor protection.63. supreme court's decision in radheyshyam khemka ..... and the nature of social purpose it seeks to promote as it shall facilitate in comprehending the issue involved and assist in construing various provisions of the act effectively. to begin with the preamble of the act, which can afford useful assistance to ascertain the legislative intention, it was enacted, ' to provide for the protection of the interest of consumers'. use of ..... powers required to deal effectively with all matters relating to capital market".49. section 3 of the act provides for establishment of a board namely the "securities and exchange board of india", for the purposes of the act. the purposes of the act according to its preamble are to "provide for the establishment of a board to protect the interests of investors in ..... the word, protection' furnishes key to the minds of makers of the act. various definitions and provisions which elaborately attempt to achieve this objective have to be construed in this light without departing from the settled view that a preamble cannot control otherwise plain meaning of a provision. in fact the law meets long felt necessity of .....Tag this Judgment!
Court : Mumbai
..... of termination of workmen by implication is to be read in the companies act it would fly in the face of legislative policy reorganizing the special place the workers have in the fabric of our society, the preamble to the constitution of india and directive principles which the legislature has ..... if provident fund and gratuity itself are not to be included for the purpose of workmen dues as per section 529 of the companies act, 1956 of the companies act, there is no question of awarding interest on the same. the rate of interest on wages can be only 4 percent, that ..... employment by removal, superannuation, dismissal, contract of employment coming to an end, resignation, termination, closure, do not arise from provisions of the companies act but under labour legislations and/or contract. the learned counsel for the applicant also does not dispute the position that if there is cessation of ..... workmen is different than the other employees. this fact has been recognized by the legislature and emphasized through several judicial decisions. even under the companies act, section 529-a has been enacted to give overriding preference to the workmen treating them differently. furthermore the learned counsel for official liquidator ..... the case of bank of maharashtra vs pandurang keshav gorwardkar and ors. (civil appeal no.7045 / 7046 of 2005 decided on may 7, 2013)to contend that the decision of the apex court supports the interpretation that the date of cessation is the date of winding up. 27. mr .....Tag this Judgment!
Court : Chennai
Reported in : (1948)2MLJ536
..... agreement on which ultimately the decision of the question referred to us in this case must depend. the preamble is as follows:whereas(a) the vendor owns or controls all the shares in w. a. beardsell & co., ltd (hereinafter called 'the company') a company incorporated under the indian companies act, 1913, and having its registered office at madras aforesaid.(b) the nominal capital of the ..... company is rs. 15,00,000 divided into 5,000 preference shares of rs. 100 each and 10,000 ordinary shares ..... p.v. rajamannar, c.j.1. the appellant is a sterling company incorporated in the united kingdom. messrs w. a. beardsell & co., ltd., is a company incorporated under the indian companies act, 1913, and has its registered office at madras. sir william beardsell owned or controlled practically all the shares in the latter company. the applicant purchased from him 8190 ordinary shares sometime in 1940. previously .....Tag this Judgment!