Court : Chennai
Decided on : Jul-16-1917
Reported in : (1918)ILR41Mad307
..... it was allotted to him as expressly stated not for cash but in consideration of the surrender of his debenture and the rights which he held under it. there is admittedly no case in the books upon section 25 of the english companies act, 1867, or the more recent sections, which precisely covers this point. bat i am glad to see that the ..... , while the same remains in force and upon giving previous notice in writing, be entitled to surrender this debenture and receive in consideration thereof one fully-paid ordinary share of its. 100 of the ..... trotter that an allotment by the appellant company of a fully-paid-up share to a debenture-holder in exchange for his debenture pursuant to a condition in the debenture is an allotment of a share as fully paid up otherwise than in cash within the meaning of section 104(1)(b) of the indian companies act, 1913. the debenture deed provides the registered holder hereof shall ..... same view is taken by sir francis palmer with regard to a clause in the debenture which is practically in the same terms, in part iii of the eleventh .....Tag this Judgment!
Court : Chennai
Decided on : Jul-16-1917
Reported in : AIR1918Mad680; 42Ind.Cas.674; (1917)33MLJ474
..... it was allotted to him as expressly stated not for cash but in consideration of the surrender of his debenture and the rights which he held under it. there is admittedly no case in the books upon section 25 of the english companies act 1867 or the more recent sections, which precisely covers this point. but i am glad to see that the ..... , while the same remains in force and upon giving previous notice in writing, be entitled to surrender this debenture and receive in consideration thereof one fully paid ordinary share of es. 100 of the ..... trotter that an allotment by the appellant company of a fully paid up share to a debenture-holder in exchange for his debenture pursuant to a condition in the debenture is an allotment of a share 'as fully paid up otherwise than in cash' within the meaning of section 104(1)(b) of the indian companies act, 1913. the debenture-deed provides ' the registered holder hereof shall ..... same view is taken by sir francis palmer with regard to a clause in the debenture which is practically in the same terms, in part iii of 11th edition .....Tag this Judgment!
Court : US Supreme Court
Decided on : Jan-22-1917
..... was actively engaged in buying and selling stocks and bonds of industrial corporations and investment securities in general, and particularly the stock of the richard auto manufacturing company, of which company he was the secretary, and for which business he had unusual aptitude and was able to prosecute more successfully "than any page 242 u. s. 543 ..... powers, in violation of the constitution of ohio. appellees consider themselves remediless except in equity, and pray injunctions interlocutory and permanent. the complaint of rose and the auto company is that hall, superintendent of banks and banking, is actively engaged in the prosecution of the proceedings against rose, and has, together with the prosecuting attorney, interfered ..... the security and disposes of his own property for his own account . . ." "as used in this act, the term 'company' shall include any corporation, copartnership, or association, incorporated or unincorporated, and whenever and wherever organized; . . ." the geiger-jones company is an ohio corporation, licensed to do the business of buying and selling investment securities, and of buying and ..... blue sky law of the state of ohio, which provides: "sec. 6373-1. except as otherwise provided in this act, no dealer shall, within this state, dispose or offer to dispose of any stock, stock certificates, bonds, debentures, collateral trust certificates, or other similar instruments (all hereinafter termed 'securities') evidencing title to or interest in property, .....Tag this Judgment!
Court : Kolkata
Decided on : Apr-03-1917
Reported in : 40Ind.Cas.865
..... gaskell v. gosling (1896) 1 q.b. 669 : 65 l.j.q.b. 435 also it appears that it was the trustees of the debenture holders who appointed the receiver and had the power to remove him without notice to the mortgagors, although the receiver under the terms of the agreement was ..... of the security to the satisfaction of the debenture debts, and the provisions went to show that it was intended that the receiver should be receiver on behalf of the mortgagees and not on behalf ..... what is due to the mortgagee, to those who may be entitled to it; the proceeds of any assets were apparently payable under it to the debenture holders only. at page 821, vaughan williams, j., observed that the object of the appointment of the receiver was really the sale and realization ..... to take possession of the assets, carry on the business, sell the property, make any arrangements he should think expedient in the interest of the debenture holders and apply in a specified way the moneys received, but they did not provide that the receiver was to be the agent of the mortgagors. ..... that they got themselves registered as managers for the mortgagors under the land registration act and subsequently as trustees. if messrs. garth & weatherall were the agents of the plaintiff company, the mortgagors would have complained of their mismanagement to the company; and it is remarkable that throughout the long period from the date of .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-29-1917
Reported in : (1917)19BOMLR650; 42Ind.Cas.9
..... a personal liability on all the members of the caste. this cannot always be intended. for instance, if a creditor's administration action or a debenture-holder's action was dismissed with costs, i take it that apart from some very special circumstances the person liable for costs would be the plaintiff ..... lie against the secretary and trustees, the action not being a representative one. in the case i first mentioned, viz., markt & co., limited v. knight steamship company, limited (1910) 2 k.b. 1021, lord justice moulton, differing from lord justice buckley, thought that the plaintiff could not sue for himself and all other ..... in effect therefore it is different from a case where the defendants have personally to pay the-compensation in cash. here, but for the plaintiff's act, the defendants would have lost the property. if then they get any part of the property back, they are not damnified. consequently i see no injustice ..... . accordingly after consideration of the case as a whole i think that i can and that i ought to apply section 70 of the indian contract act, although in the present case the 'another person' mentioned in section 70 consists of this large caste. i think however it would be unfair to ..... indemnity by the caste on the same lines as an ordinary agent would be entitled to indemnity under section 222 or 223 of the indian contract act. indeed the caste seem to some extent to have recognized their obligation for the fourth resolution on p. 80 of the appeal paper book shows .....Tag this Judgment!
Court : House of Lords
Decided on : Jul-23-1917
..... is accordingly quite unnecessary to go into the doctrine of damnum fatale in general. i am not entirely satisfied that that expression or the equivalent expression, the act of god, will ever be capable of complete, exact, and unassailable definition. the nearest approach which the law has made to that point is in the judgment ..... upon the footing of the verdict of the jury, which, as construed by the court, amounted to a direct finding that the occurrence in question was an act of god, which is the exact equivalent of the expression used in the scotch cases damnum fatale. lord justice-clerk hope, in kerr v. earl of orkney ..... out that she was free from fault; but we think she ought not to be held liable because she did not prevent the effect of an extraordinary act of nature, which she could not anticipate. two observations arise upon this case of nichols v. marsland . the first is that the case is dealt ..... been anticipated, the effect might have been prevented; and this seems to us in substance a finding that the escape of the water was owing to the act of god. however great the flood had been, if it had not been greater than floods that had happened before and might be expected to occur again ..... is thus stated by mellish, l.j.: the remaining question is, did the defendant make out that the escape of the water was owing to the act of god? now the jury have distinctly found, not only that there was no negligence in the construction or the maintenance of the reservoirs, but that the .....Tag this Judgment!