Court : Kolkata
Decided on : Aug-18-1980
Reported in : AIR1981Cal18
..... in a business like manner and honour its commitment following the norm of foreign trade by an indian concern. the attitude of the petitioner is against all principles of commercial contract who is obviously trying to back out of solemn arbitration agreement, if possible, by raising absolute frivolous pleas which are directly contradictory to their own conduct as disclosed in the ..... found from the correspondence, the rule is that the entire bunch of correspondence as passed between the parties has to be looked into for determination whether there was a concluded contract. therefore, mr. basu submitted relying on the said principle that if the entire correspondence is looked into, there cannot be any doubt that there was an arbitration agreement which the ..... as prayed for by the petitioner in this application,10. mr. dipak basu, appearing for the respondent, also relied on the correspondence and submitted that there was a clear contract between the parties and the same was recorded in the, said order placed by the respondent on the petitioner and in fact, the petitioner by their letters dated the 20th ..... the order dated the 7th of may, 1979, the respondent tried to incorporate the arbitration clause to which the petitioner did not agree and therefore, mr. chatterjee submitted that the contract did not contain an arbitration clause and as such, there cannot be any reference to arbitration as sought to be initiated by the respondent and the court should determine accordingly .....Tag this Judgment!
Court : Kolkata
Decided on : Apr-10-1980
Reported in : 53CompCas744(Cal)
..... be made in writing latest 5 days from the expiry date herein. for the chartered bank(sd.) manager. we confirm that this bond is covered by the termsof our blanket indemnity dated 23rd september, 1975. for and on behalf of coutinho, caro & co. ltd. and a letter dated the 27th november, 1978, being the annexure to the said affidavit-in-reply ..... petitioning creditor after obtaining the necessary reserve bank of india's permission for a remission of the same to the petitioning creditor being a foreign agent through whom, the said contract was entered into, as would appear from the previous correspondence referred to in the pleadings in this proceeding. mr. nag rightly commented that it was only with a view ..... /4th january, 1979, demanded the said amount after specifying the circumstances under which the amount became payable as commission to the petitioning creditor as agent for negotiating and finalising the contract with wapda for the supply of the said goods. 3. mr. r.c. nag, appearing with mr. sudipta sarkar for the petitioning creditor, placed the said correspondence chronologically and submitted ..... set out some of the relevant correspondence which clearly show the admission on the part of the company to pay the commission to the petitioning creditor in terms of the contract between them, through its said indian and pakistani agents. the chartered bank i.i. chaundrigar road, karachi. dated 17th december, 1976. director of procurement (elecy.), pakistan water & power development .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-21-1980
Reported in : AIR1981Cal202,85CWN387
..... , no definition can be given in this agreement. as such, article viii of cost of works has to be deleted.4. in article 10.1 under indemnity charges payable the words 'of work and rectification and' have been replaced by 'or' in the 6th line. this change has been restored.we have got ..... , 1978, which is annexed to the affidavit in opposition, it was not, however, stated that the terms agreed were revoked. under section 5 of the contract act, so far as the acceptance of any proposal is concerned, it is com-plete unless the revocation of the proposal is received by the acceptor before ..... is still pending, we have been requesting clients to give us a chance to sit across the table and finalise matters including formal signing of the contract.so far, we have failed to persuade nmdc to finalise all outstanding matters in spite of our best efforts for the last few years, though they ..... civil works in respect of the above project.our work has been completed on the basis of a letter of indent issued by nmdc but the contract yet remains to be formalised. we, on our part have already ratified the draft agreement prepared and agreed jointly but this has not been finalised ..... the amendments as incorpo-rated therein in the letter of indent dated 20th april (28th april?) 1972. on 8th february, 1973, the respondent agreed that the contract under reference might be exempted from submission oi bank guarantee against advance payment, as a special case, and as such, the provision regarding the bank guarantee .....Tag this Judgment!
Court : Kolkata
Decided on : Oct-01-1980
Reported in : AIR1981Cal138
..... the premises in question. mr. mukherjee submitted that such antedating of the gazette notification was made mala fide in order to frustrate the petitioner's right to enforce the said contract for sale of the property. 11. mr. gupta, the learned additional adocate general of west bengal, in answer to the aforesaid contention of mr. mukherjee, submitted that as ..... question would be acquired. in such circumstances, the petitioner must have locus standi to question the correctness of the acquisition proceeding because acquisition of the property would ultimately frustrate the contract. 10-a. on the merits of the case of the petitioner, mr. mukherjee contended that from the information given by the superintendent, west bengal government press as noted hereinbefore ..... acquisition of such land. accordingly the petitioner not having any interest in the land on the basis of the said agreement, even assuming that the agreement was a concluded contract between the parties, the petitioner had no locus standi to present the said application under article 226 of the constitution inter alia challenging the legality and validity of the ..... 1978, fee made anendorsement to the effect 'approved and the memorandum of agreement may now be engrossed'. the petitioner contends that in the aforesaid circumstances there had been a concluded contract by and between the petitioner and the respondent dr. graham's homes for sale of the said premises. the petitioner contends that mr. graham's homes and mr. robert .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-10-1980
Reported in : (1980)19CTR(Cal)59,139ITR293(Cal)
..... sufficient for the purpose. it was for the assessee to prove that that was done with a view to guard against future loss in respect of contracts for actual delivery of merchandise. according to the tribunal, the assessee failed to discharge the onus which lay on it. the only evidence placed by ..... , be liable to account for the sale proceeds. the true relationship of the parties in each case has to be gathered from the nature of the contract, its terms and conditions, and the terminology used by the parties is not decisive of the legal relationship.'24. in a very recent case, the supreme ..... in this case, their lordships of the supreme court observed (p. 316):'as a matter of law there is a distinction between a contract of sale and a contract of agency by which the agent is authorised to sell or buy on behalf of the principal and make over either the sale proceeds or the ..... from these facts that the sale by the selling agents to customers was a transaction in which the manufacturers were not interested and there was no privity of contract between the manufacturers and the ultimate purchasers.23. he referred to the case of sri tirumala venkateswara timber & bamboo firm v. cto : 2scr476 . ..... that so far as their legal relationship was concerned, the jute mills had no interest in the goods once they had performed their part of the contract by placing the goods alongside the vessel as per the assessee's instructions.14. thus it was concluded that the assessee had no legal obligation to .....Tag this Judgment!
Court : Kolkata
Decided on : Jun-04-1980
Reported in : AIR1980Cal258
..... price of the property and not more than that', mr. samanta submitted that the learned court below was not justified in allowing the plaintiffs prayer for specific performance of the contract as he expressed his unwillingness to purchase the property at the prevailing market price. read in isolation the above statementmade by the plaintiff undoubtedly supports the contention of mr. samanta ..... that one or more of the several heirs of the original promisee, a single individual, could not by himself or themselves institute a suit for specific performance of the contract and reconveyance by making the remaining heirs as defendants to the suit as on the death of the original promisee his heirs did not become themselves several joint promisees. while ..... governing the person making the representation provides otherwise, result in an agreement enforceable at law; if the statute requires that the agreement shall be in a certain form, no contract may result from the representation and acting therefor but the law is not powerless to raise in appropriate cases an equity against him to compel performance of the obligation arising ..... a representation would amount to an agreement enforceable by law and the person to whom the representation was made would be entitled to the equitable relief of specific performance of contract. this position has been made amply clear by the following observation of the supreme court in the case of century spg. and mfg. co. v. ulhasnagar municipality, reported in : .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-16-1980
Reported in : 53CompCas367(Cal),84CWN876
..... other hand the shares were sold surreptitiously without letting any outsider know about the sale. however, the fact is proved that section 13 of the securities contracts (regulation) act, 1956, has been deliberately violated to effect the fraudulent sale of the shares. there can be no doubt, therefore, that all the ..... respondents nos. 1, 2 and 3 were not negotiated through the members of any recognised stock exchange as required under section 13 of the securities contracts (regulation) act. had there been any such sale, there would have been an occasion for publicity or at least there might have been an ..... wool and many other commodities inlondon. in a wider sense, however, a market can signify any area in which buyers and sellers are in contract with one another and this area may in fact comprise the whole world. prices in a free market are determined by the combined actions of ..... cas (st.) 155). the said notification reads as follows : ' in exercise of the powers conferred by sub-section (1) of section 16 of the securities contracts (regulation) act, 1956 (42 of 1956), the central government, being of opinion that it is necessary to prevent undesirable speculation in securities in the whole of india ..... for the petitioner-company and mr. r. c. nag who appeared for the respondent-company it will be useful to set out certain provisions of the securities contracts (regulation) act, 1956, (hereinafter referred to as ' the act ').6. the preamble of the act is as follows : ' an act to prevent .....Tag this Judgment!
Court : Kolkata
Decided on : Feb-12-1980
Reported in : AIR1981Cal37
..... . but he may be authorised expressly or impliedly to sell though in such circumstances he normally has no authority to sign anything but an open contract. in any case, he is prima facie authorised to describe the property, state to an intending purchaser the circumstances which may affect its value ..... (later sir asutosh) in the division bench judgment observed at p. 470 :'the essential question is, whether the agent employed is authorised to make a binding contract for sale. such an authority may be expressly conferred, as in rosenbaum v. belson, (1900) 2 ch 267. asbuckley, j., points out, there is ..... it given to any definite intending purchaser. it could not be said that gooptu must have completed his part in the formation of the contract by finally declaring his readiness to undertake an obligation from any person leaving the whole matter to the offereefor his acceptance or refusal. it ..... a definite promise to be bound provided that certain specified terms are accepted. the offeror must have completed his share in the formation of a contract by finally declaring his readiness to undertake an obligation upon certain conditions, leaving to the offeree the option of acceptance or refusal. he must not ..... of the appellant that the offer contained in the said letter dated 12th december, 1978, was a firm offer and the same became concluded contract between the parties immediately upon acceptance thereof by the said letter dated january 1, 1979. the contention is that baid was acting as the .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-12-1980
Reported in : AIR1980Cal341,85CWN25
..... , the learned judge made the rule nisi absolute. it was declared that the refusal by the authorities to allow the respondents to export argenti nitras i. p. pursuant to the contract entered into by them with the said foreign firm was illegal. it was directed that the respondents, upon their proving to the satisfaction of the appropriate officers that the goods ..... of mandamus commanding the authorities concerned, who are the appellants before us, and their servants and agents to allow the respondents to export argenti nitras i. p. as per the contract entered into by them with the said foreign firm.12. the learned judge considered the arguments made by the parties in sup-port of their respective contentions and also the ..... confirmation of the said contract from the foreign buyers, namely, the said kasner limited. london as contained in their letter dated nov. 6, 1979. on jan. 1, 1980, the respondents through their shipping and clearing ..... respondents in the writ petition was, in short, that on the basis of the export policy for the year 1979-80 and exports (control) order, 1977, they entered into a contract dated nov 6, 1979 with one kasner limited, london for the sale and export of 15 metric tons of argenti nitras i. p. (silver nitrate i. p.). they receiv-ed .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-17-1980
Reported in : 135ITR606(Cal)
..... 1975]100itr715(sc) has been read and explained in that decision to mean that the question whether a transaction is a speculative transaction in a general commercial sense under the contract act is irrelevant whilst considering the provisions of the i.t. act. according to the division bench a transaction which is otherwise speculative would not be speculative within the meaning ..... special quality of goods to execute overseas orders it could earn better profits and the assessee switched over to the manufacture of special quality of goods and settled forward contracts with the indian buyers. the tribunal found that the settlement of these transactions wasnecessary and incidental to the very carrying on of the assessee's business of overseas supplies ..... stocks andshares, is periodically or ultimately settled otherwise than by actual delivery or transfer of the commodity or scrips :provided that for the purposes of this clause-- (a) a contract in respect of raw materials or merchandise entered into by a person in the course of his manufacturing or merchanting business to guard against loss through future price fluctuations in ..... transactions. explanation 2 to section 24(1) of the indian i.t. act, 1922, reads as follows :'explanation 2;--a speculative transaction means a transaction in which a contract for purchase and sale of any commodity including stocks and shares is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scraps :provided .....Tag this Judgment!