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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Sorted by: recent Court: mumbai Page 1 of about 5,984 results (0.035 seconds)

Jun 28 2016 (HC)

National Securities Clearing Corporation Ltd. Vs. Prime Broking Compan ...

Court : Mumbai

..... latter might sustain in the future operation of the cinemas. the company therein had claimed against the petitioning creditors damages for breach of that alleged contract of indemnity. on these facts, the creditors' petition was dismissed. on appeal, lord denning m.r. observed that there had to be a genuine ..... respondents agreed to waive notice to them before appropriation of amount by the bank. the provisions of sec. 126, 148 and 172 of the contract act also do not, in any manner, help the respondents in support of their contention that there is a legal obligation on the appellant ..... are no disputes on facts. the contentions are purely legal. now we would consider the first contention regarding applicability of sec. 176 of the contract act. section 176 provides for pawnee's right where pawnor makes default. it inter alia stipulates that on pawnor making default in payment of the ..... undisputed. in fact, the admission of liability by the respondent company is also with reference to these very same trades. 18. section 176 of the contract act, 1872 deals with the rights of a pawnee where the pawner make default. section 176 reads as under:- 176. pawnee's right where pawnor ..... form of cash, the petitioner would immediately, offload all pledged securities lying with them to meet the pay-in obligations pertaining to march and june contracts expiry. this would have entailed sale of several securities including twenty lakh (20,00,000) shares of a company called gitanjali gems limited (hereinafter .....

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Dec 18 2015 (HC)

Satish @ Santosh Gaonkar Vs. Durgesh B. Gaokar and Another

Court : Mumbai Goa

..... the driver/ rider of the vehicle. this is because, the very basis for claiming such compensation is tortuous liability of the driver/ rider and thereafter, on the basis of a contract of indemnity in the form of the policy of insurance, the insurance company can be made liable. 16. in the present case, indisputably, there was no prosecution launched or chargesheet filed .....

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Dec 17 2015 (HC)

United India Insurance Co., Through its Assistant Manager Vs. Mulla Ch ...

Court : Mumbai Aurangabad

..... pay the interest. in the present matters, there was no such negative clause, for contracting out. 17. contract of insurance is a contract of indemnity and it is between only the insurer and the assured. there is no privity of contract between the insurance company and the employee who is entitled to make claim against the ..... has not disputed that it is settled law that the insurance company is liable to pay interest on the compensation under the policy unless there is contracting out in respect of such interest. though there is such liability, for filing appeal, only the compensation amount needs to be deposited by the ..... promise to identify applies and that includes even costs of the proceeding. it is, however, subject to conditions laid down in section 125 of the contract act. this provision also shows that the insurance company is liable not only to pay the compensation but also the interest which is payable on the ..... that it has independent identity. it can be said that only when award made is in respect of liability which was not undertaken under the contract by the insurer, the insurer has independent right to challenge the award in view of provisions of sections 30 and 19 of the act. the ..... power to decide the matter even against the insurer, the insurer gets right to challenge the decision. 16. the liability of the insurer under the contract of policy is liability to indemnify the employer on the basis of policy. as per provision of section 147 of the motor vehicles act, 1988 ( .....

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Jul 27 2015 (HC)

United India Insurance Co. Vs. Bhimrao Visahvanath Kanse and Others

Court : Mumbai Aurangabad

..... was appropriately proved, particularly in absence of payment of additional premium? d) the insurance-company straight-away cannot be held responsible for payment of compensation as the contract of insurance is always a contract of indemnity and primarily the insured is required to be held responsible and not the insurance company? 8. so far as the appeal at the behest of the owner ..... the liability of the insurance company to pay the compensation straight way holding it to be responsible is concerned, it is required to be noted that the contract of insurance is always a contract of indemnity. the order of the labour court appears to have held responsible both, i.e. the vehicle owner and the insurance company responsible for payment of the amount .....

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May 07 2015 (HC)

Sesa Goa Ltd. Vs. The Commissioner of Income Tax

Court : Mumbai Goa

..... % of the same has to be reduced from gross total income. ? this court in pfizer ltd. (supra) has further in para 11 thereof held as under: ??a contract of insurance is a contract of indemnity. the insurance claim in essence indemnifies assessee for the loss of the stock in trade. the indemnification that is made to the assessee must stand on the same .....

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Mar 11 2015 (HC)

Punjab and Maharashtra Co-op. Bank Ltd. Recovery Department Vs. Puri I ...

Court : Mumbai

..... to in section 23a. 14. the first respondent was and is therefore entitled to retain the amounts in a suspense account and to treat the same as payment under the contract of indemnity only in the event of it ultimately being unable to recover the amounts from the debtor's. 15. mr. patwardhan reiterated that in the event of the first respondent ..... admitted position that the premium had been debited to the loan accounts and had not been paid by the first respondent. 9. in a contract of indemnity the indemnity holder is not bound to sue the indemnifier. the indemnity holder may sue only the debtor or only the indemnifier or both. in law there is nothing that prevents an agreement or arrangement between an ..... the first respondent is now barred from recovering the same amount over again from the appellant's and the other respondents. he submitted that the contract between the first respondent and the dicgc is a contract of indemnity and to the extent that the first respondent is reimbursed by the corporation the benefit to the extent thereof must be passed over to the ..... be enforced. in particular we do not find anything that prohibits arrangement whereby the indemnifier pays the amount due under the contract of indemnity subject to the condition or on an understanding between the indemnity holder and the indemnifier that the indemnity holder will continue to pursue its remedies against the debtor and in the event of it recovering the amounts from the debtor .....

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Jan 20 2015 (HC)

Borosil Glass Works Limited Vs. Tata Motors Limited

Court : Mumbai

..... on the part of the purchaser to pay off the previous encumbrance on the property sold. under section 124 of the indian contract act "a contract of indemnity" is a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or ..... rulings of the chancery courts. this has not wiped off the common law cause of action vested in a promisee under an indemnity contract for enforcement of obligation on the indemnity contract itself by seeking a direct decree against the promisee (promisor?). to such decree he was entitled at common law only upon ..... sheodeni singh and venkatanarayaniah v. subramania iyer. . 5. it was then contended by mr. b. c. misra that even if there was a contract of indemnity the cause of action for the plaintiff arose on february 4, 1937, when the final mortgage decree was passed and not on february 25, 1943 when ..... : air1940bom161 , which both cases are referred to in the judgment of the learned judge. in my view, on a true construction of the contracts of indemnity admitted between the parties, it was permissible for the plaintiff to call upon the defendants to pay the amounts claimed in the order dated february 28 ..... no dispute between the parties that in respect of the goods sold and delivered by the plaintiff to the defendants during the above period a contract of indemnity in the terms contained in the above letters existed. 4. in connection with the sales tax relating to the goods sold by the plaintiff .....

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May 08 2014 (HC)

M/S. Madgavkars Salvage and Towage Company Pvt., Limited Vs. United In ...

Court : Mumbai Goa

..... and tear. there must be some casualty, something which could not be foreseen, as one of the necessary incidents of the adventure. the purpose of the policy (or contract) is to secure an indemnity against accidents which may happen, not against events which must happen. not only losses which are occasioned by extraordinary violence of the winds or waves are losses by ..... . there has to be a casualty, something which could not be foreseen, as one of the necessary incidents of the adventure. the purpose of the policy is to secure an indemnity against events which have occurred by extraordinary violence of the wind or waves. 18. in the law lexicon while dealing with the perils of the sea, it was inter-alia ..... winds and waves, not comprehended in the ordinary wear and tear of the voyage or directly referable to the acts and negligence of the assures as its proximate cause. in contracts of sea carriage, the words perils of the sea? have been defined as sea damage occurring at sea and nobody is at fault?. (lopes l.j. quoted in hamilton v ..... in thames and mersey m.i.c. v. hamilton, (1887) 122 app. cas. 492) the expression has the same meaning in a contract of sea carriage as it has in a marine policy; but in the case of a contract of carriage the court looks to what has been termed the remote as distinguished from the proximate cause of damage, whereas in .....

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Feb 21 2014 (HC)

Rentworks India Pvt. Ltd. Vs. Small Industries Development Bank of Ind ...

Court : Mumbai

..... foreclosing /terminating or restructuring the mra or part thereof, for any reason whatsoever, including default by the renter, without prior written consent of sidbi? (note : in the deed of indemnity, the plaintiff, the defendant and subhiksha are respectively referred to as 'indemnifier', 'renter' and 'sidbi'.) 8. as noted above, subhiksha admittedly committed default in payment of the lease ..... binding on the company.? (note : the plaintiff and the defendant are respectively referred to as 'company' and 'sidbi' in the deed of hypothecation.) deed of indemnity: the relevant recitals and indemnity clause in the deed was in the following terms: and whereas, the transaction documents, inter alia, provides that in the event of the renter/ indemnifier desiring foreclosure/ ..... not happen. there is no question of the event being impossible and therefore, the contract of indemnity becoming void. upon the mra being terminated by the defendant, whether the defendant can enforce the indemnity against the plaintiff, is a question of performance of the deed of indemnity. that question can be considered by the court which has been asked to enforce ..... the learned counsel for the plaintiff to show that the agreement of indemnity is void at its inception for any reason. the ground that the consideration, on which the indemnity is premised, having become impossible, the deed of indemnity has become void, also has no merit. in a contract of indemnity, there is a promise to save the promisee from harm or .....

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Jan 10 2014 (HC)

Reliance Industries Limited Vs. Balasore Alloys Limited

Court : Mumbai

..... tax authorities on 5 march 2008. that was in the amount of rs. 107.08 crores. it was in respect of a clear enforceable claim that the contract of indemnity had been executed. the indemnity covered losses which may be incurred and losses were defined clearly to include taxes, claims and demands. after the consent terms were entered into between the parties, the ..... suffered a loss, he was not entitled to sue the indemnifier and in that connection, reliance was placed on sections 124 and 125 of the contract act. the plaintiff to the suit, had been furnished an indemnity by the defendant of discharging two mortgages. in that context, it was argued on behalf of the defendant that unless the mortgagee filed a suit ..... to the judgment in case of gajanan parelkar vs. moreshwar air 1942 bombay 302 has held that unless the liability of the indemnifier is absolute, indemnity clause cannot be enforced in view of section 124 of the contract act. i do not propose to take a different view in the matter. 19. i am not inclined to accept the submission of dr ..... damage is incurred by the indemnityholder, it would be open to him to sue for the specific performance of the contract of indemnity, provided of course it is shown that an absolute liability has been incurred by him and that the contract of indemnity covers the said liability.? the law on the subject has similarly been considered in a judgment of the calcutta high .....

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