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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Sorted by: recent Court: supreme court of india Page 1 of about 6,746 results (0.152 seconds)

May 10 2019 (SC)

Ram Parshotam Mittal Vs. Hotel Queen Road pvt.ltd. Andors.

Court : Supreme Court of India

..... a private company which is a subsidiary of a public company, in respect of any contract or arrangement entered into, or to be entered into, by the private company with the holding company thereof; (c) any contract of indemnity against any loss which the directors, or any one or more of them, may ..... the transferor and by or on behalf of the transferee has been lost, the company may register the transfer on such terms as to indemnity as the board may think fit :63. provided further that nothing in this section shall prejudice any power of the company to register as ..... of the contingency specified therein. the imposition of penalty depends upon the violation of the exchange and when imposed operates to invalidate all contracts resulting from allotment of shares between the applicants for shares and the company. such a provision must be strictly construed. unless the statute in ..... of india v. allied international products ltd. & anr. (1970) 3 scc594 15. the application for allotment of shares and acceptance thereof constitute a contract between the company and the applicant. section 73(1) of the companies act imposes a penalty whereby the allotment of shares becomes void on the happening ..... suffer by reason of becoming or being sureties or a surety for the company; (d) any contract or arrangement entered into or to be entered into with .....

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Jun 29 2016 (SC)

M/S. Sundaram Finacne Ltd. Vs. Noorjahan Beevi and Anr.

Court : Supreme Court of India

..... section 29 and on their taking possession they became deemed owners. the mortgage may have come to an end, but the contract of indemnity, which was an independent contract, did not. the right to claim for the balance arose, under the contract of indemnity, only when the sale proceeds were found to be insufficient.11. in this case, it is an admitted position that the ..... .e. that the loan transaction and the mortgage deed are one composite transaction which was inseparable is entirely erroneous. it is settled law that a contract of indemnity and/or guarantee is an independent and separate contract from the main contract. thus, the question which they required to address themselves, which unfortunately they did not, was when does the right to sue on the ..... that a suit for recovery of the balance could have been filed. merely because the corporation acted under section 29 of the financial corporations act did not mean that the contract of indemnity came to an end. section 29 merely enabled the corporation to take possession and sell the assets for recovery of the dues under the main ..... indemnity arose. in our view, there can be only one answer to this question. the right to sue on the contract of indemnity arose only after the assets were sold off. it is only at that stage that the balance due became ascertained .....

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Jan 29 2014 (SC)

Deepak Bhandari Vs. H.P.State Indusl.Dev.Corp.Ltd.and ors.

Court : Supreme Court of India

..... act, 1963 which corresponds to old articles 115 and 116 of the old limitation act, 1908. the right to sue on a contract of indemnity/ guarantee would arise when the contract is broken.23. therefore, the period of limitation is to be counted from the date when the assets of the company were ..... taking possession they became deemed owners. the mortgage may have come to an end, but the contract of indemnity, which was an independent contract, did not. the right to claim for the balance arose, under the contract of indemnity, only when the sale proceeds were found to be insufficient. in this case, it is ..... the mortgage deed, are one composite transaction which was inseparable is entirely erroneous. it is settled law that a contract of indemnity and/ or guarantee is an independent and separate contract from the main contract. thus the question which they required to address themselves, which unfortunately they did not, was when does the right ..... that merely because the corporation acted under section 29 of the state financial corporation act did not mean that the contract of indemnity came to an end. section 29 merely enabled the corporation to take possession and sell the assets for recovery of the dues under the main ..... been filed. merely because the corporation acted under section 29 of the financial corporation act did not mean that the contract of indemnity came to an end. section 29 merely enabled the corporation to take possession and sell the assets for recovery of the dues under the .....

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Nov 20 2012 (SC)

National Insurance Company Ltd. Vs. Balakrishnan and ors.

Court : Supreme Court of India

..... capacity as a regional manger of the owner-company and the vehicle was being driven by the driver. this court observed that a contract of insurance is ordinarily a contract of indemnity and when a car belonging to an owner is insured with the insurance company and it is being driven by a driver employed ..... pertaining to enforcement of its decision to cover the liability of an occupant in a vehicle in a "comprehensive/package policy" regard being had to the contract of insurance.17. at this stage, it is apposite to note that when the decision in bhagyalakshmi (supra) was rendered, a decision of high court ..... decision in regard to coverage of third-party risk which would include all persons including occupants of the vehicle and the insurer having entered into a contract of insurance in relation thereto, we are of the opinion that the matter may require a deeper scrutiny."on a perusal of the aforesaid paragraph, ..... on a scooter would be a third party within the meaning of section 147 of the act, after referring to number of authorities, stated thus:-"the contract of insurance did not cover the owner of the vehicle, certainly not the pillion-rider. the deceased was travelling as a passenger, stricto sensu may ..... the owner of the vehicle or as an employee, he is not covered by the insurance policy taken in terms of the actwithout any special contractsince there is no award under the workmen's compensation act that is required to be satisfied by the insurer. in these circumstances, we hold .....

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Oct 13 2011 (SC)

United India Insurance Co. Ltd. Vs. Shila Datta and ors.

Court : Supreme Court of India

Reported in : 2011(4)KLT378; 2011(4)KLJ580; 2011(10)SCC509; 2011(8)MLJ743; 2012(1)LW30; 2011(2)TNMAC481; 2012(1)SCC(Cri)328; AIR2011SCW6541; 2012(2)SCJ162; AIR2012SC86

..... claim, in regard to the quantum. all that section 149(2) says is that insurer cannot raise all kinds of contentions based on the terms of policy to avoid the contract of indemnity. but it does not require the insurer to concede wrong claims or false claims or not challenge erroneous determination of compensation. 18. let us take by way of example ..... case the appellant is not seeking to avoid its liability but wants a determination of the extent of its liability which is to be determined, in the absence of any contract to the contrary, in accordance with the statutory provision contained in this behalf in clause (b) of sub-section (2) of section 95 of the act...the assumption that as ..... , being one of the following conditions, namely:--(i) a condition excluding the use of the vehicle--(a) for hire or reward, where the vehicle is on the date of the contract of insurance a vehicle not covered by a permit to ply for hire or reward, or(b) for organized racing and speed testing, or(c) for a purpose not allowed .....

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Jul 28 2010 (SC)

M/S Sumitomo Heavy Industries ... Vs. Oil and Natural Gas Company

Court : Supreme Court of India

..... be read strictly and narrowly. as far as this submission is concerned, one has to note that as per section 124 of the indian contract act, a contract of indemnity is one under which one party promises to save the other from loss caused to him by the conduct of the promisor or any other ..... person. thus in the present case, under clause 5.10.5 of the general conditions of contract, the appellant has given the indemnity to the respondent against all losses that the respondent may suffer out of the negligence of appellant or their sub-contractor. clause 17. ..... approach should be adopted while examining the scope and application of clause 17.3. the respondent submitted that this clause was in the nature of an indemnity and that it must be construed strictly and narrowly. this view is also accepted by the division bench. the division bench observed as follows:"the ..... ) harmless against all losses and claims, including such claims arising out of the negligence of the contractor or its subcontractors, and the particulars of this indemnity are specified in this clause.15. clause 5.11.3. lays down that the contractor shall observe and comply with and shall ensure that all his ..... to extra cost arising on account of change of law. it cannot be compared with indemnity for loss due to conduct of the promisor or of a third party.30. mr. tankha submitted that clauses in the contract have to be given a literal interpretation. he relied upon the judgments of this court .....

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May 06 2010 (SC)

United India Insurance Company Ltd. Vs. Kantika Colour Lab. and ors.

Court : Supreme Court of India

..... . even with in that limit, however, he cannot recover more than what he establishes to be the actual amount of his loss. the contract being one of indemnity only, he can recover the actual amount of his loss and no more, whatever may have been his estimate of what his loss would be likely to be, and ..... or in part so as to call any repair or replacement of the said machine.19. contracts of insurance are generally in the nature of contracts of indemnity. except in the case of contracts of life insurance, personal accident and sickness or contracts of contingency insurance, all other contracts of insurance entitle the assured for the reimbursement of actual loss that is proved to have been ..... stipulated in the policy; the event must, in fact, result in a pecuniary loss to the assured, who then becomes entitled to be indemnified subject to the limitations of his contract. he cannot recover more than the sum insured for that sum is all that he has stipulated for by his premiums and it fixes the maximum liability of the insurers ..... is only upon proof of the actual loss, that the assured can claim reimbursement of the loss to the extent it is established, not exceeding the amount stipulated in the contract of insurance which signifies the outer limit of the insurance company's liability. the amount mentioned in the policy does not signify that the insurance company guarantees payment of the .....

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Feb 17 2010 (SC)

Economic Transport Organization Vs. Charan Spinning Mills (P) Ltd. and ...

Court : Supreme Court of India

Reported in : JT2010(2)SC271,2010(2)SCALE427,2010(2)LC1004(SC)

..... to maintain a suit in his own name against third parties.14. subrogation, as an equitable assignment, is inherent, incidental and collateral to a contract of indemnity, which occurs automatically, when the insurer settles the claim under the policy, by reimbursing the entire loss suffered by the assured. it need not ..... high court in vasudeva mudaliar v. caledonian insurance co. air 1965 mad. 159 thus:in other words arising out of the nature of a contract of indemnity, the insurer, when he has indemnified the assured, is subrogated to his rights and remedies against third parties who have occasioned the loss. the ..... transferred to and vested in the insurer. the equitable assignment of the rights and remedies of the assured in favour of the insurer, implied in a contract of indemnity, known as 'subrogation', is based on two basic principles of equity: (a) no tort-feasor should escape liability for his wrong; (b) ..... , could file a complaint under the act, even after the insurer had settled its claim in regard to the loss.11. a contract of insurance is a contract of indemnity. the loss/damage to the goods covered by a policy of insurance, may be caused either due to an act for which the ..... no dispute that the doctrine of subrogation in insurance rests upon the common intention of the parties and gives effect to the principle of indemnity embodied in the contract. furthermore, your lordships drew attention to the fact that it is customary for the assured, on payment of the loss, to provide .....

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Oct 17 2008 (SC)

Rahee Industries Ltd. Vs. Export Credit Guarantee Corpn. of India Ltd. ...

Court : Supreme Court of India

Reported in : [2008]146CompCas373(SC); JT2008(12)SC244; (2009)2MLJ458(SC); 2008(13)SCALE261; (2009)1SCC38; 2009(1)SCC138

..... increased recovery while the exporter contended that the guarantor was only entitled to what it had paid out as indemnified. the court of appeal recognized the contract as one of indemnity and treated it like a policy of insurance. before the court of appeal, the exporter contended that if there is recovery in a subrogated claim ..... . in the present case we are concerned with the policy of insurance dated 27.1.87. by its very nature it was a contract of indemnity. in the present case, the nature of the contract is not in issue. it was in issue in the case of l. lucas ltd. (supra). in the circumstances, we do ..... the policy in its entirety, we find that there is a dichotomy in it. the subject-policy in this civil appeal is a contract. by nature it is an indemnity. the contract is in two major parts. the first part which commences from clause 1 to clause 13 contemplates an ..... the fortuitous profits to be given to the guarantor then the nature of the contract of guarantee in that case would have ceased to be one of indemnity against a percentage of loss and in that event it would become a profit sharing contract. this observation has been made by viscount dilhorne at page 898 of the ..... indemnity against a percentage of a loss whereas the second part of the contract commencing from clause 14 to clause 16 contains provisions enabling recoupment of that loss.14. in this case the invoice value as on .....

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Aug 01 2008 (SC)

Samundra Devi and ors. Vs. Narendra Kaur and ors.

Court : Supreme Court of India

Reported in : 2008ACJ2616; AIR2008SC3205; 2008(4)AWC3206(SC); IV(2008)CPJ25(SC); 2009(1)MhLj38; (2008)6MLJ1046(SC); (2009)153PLR145; RLW2009(1)SC361; 2008(11)SCALE36; 2008AIRSCW5416; 2008(9)SCC100; 2008ACJ2616; 2008(11)SCALE36; ILR2008(4)Kar4664; 2008AIRSCW5416; 2008(9)SCC100; 2008ACJ2616; 2008(11)SCALE36; ILR2008(4)Kar4664

..... . the owner of the vehicle as also the driver thereof were, thus, principally liable to pay compensation to the dependents of the deceased.14. a contract of insurance as is well known is a contract of indemnity. in a case of accident, the primary liability under law for payment of compensation is that of the driver. the owner of the vehicle also becomes ..... of the vehicle and therefore liable to pay the compensation?(ii) if so, what will be the just compensation?7. the high court, on perusal of the driving licence, the contract of insurance as also the testimonies of witnesses examined on behalf of the parties, held:8. we accordingly hold that the insurer having established that the driver was not `duly ..... costs of repairing of the maruti car, were also granted.(c) the driver of the truck did not possess a valid driving licence and, therefore, breach of policy of the contract of insurance was established as a result whereof the respondent no. 3 was not liable to reimburse the owner of the vehicle any such amount payable by him by way ..... vicariously liable therefor. in a case involving a third- party to the contract of insurance in terms of section 147 of the motor vehicles act, 1988 providing .....

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