Court : Mumbai
Decided on : Feb-20-1934
Reported in : AIR1934Bom361; (1934)36BOMLR786; 152Ind.Cas.580
..... think that neither of mr. murdeshwar's arguments, the first, that no 'business' was contemplated within the terms of section 4(2) at the indian companies act, and the second that the contract evidenced by exh. a went by the board, and that what really happened on october 19 was the entering into a new ..... suit set out a partnership of twenty-two persons, fourteen plaintiffs and eight defendants, and was, on its face, a breach of the provisions of the indian companies act, the present plaint does not proceed on the same lines, though based on the same facts. the plaintiff firm here, the firm of pannaji devichand excluding ..... the suit could not lie, since it disclosed a partnership consisting of more than twenty persons, and so transgressed the provisions of section 4(2) of the indian companies act. a further appeal to his majesty's privy council failed. this suit had in the meanwhile beep, stayed, and was proceeded with on the final decision of ..... in its transaction, i.e., a business must be not one single business act, but a series of acts. this was in view of the first part of the definition in the old english act, which was in the same terms as the indian companies act here applicable. the ratio decidendi was, that, since the first part of the ..... and that the plaintiffs cannot make any claim on this basis as such a case would fall under section 4(2) of the indian companies act.37. for these reasons, i agree with the decision of the lower court and dismiss the appeal with costs. .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-22-1934
Reported in : AIR1934Bom109; (1934)36BOMLR907
..... company cannot before its incorporation enter into a contract, for it is non-existent, and another that, except by any act of legislature, it is not possible to bring a company into existence under the indian companies act bound by a contract previously made, for such a contract cannot be ratified after incorporation. in order to ..... , the objects of the company, and so on, can be altered, undoubtedly in a limited way, in accordance with the provisions of the indian companies act. the learned counsel for the appellant says that the rights of the agents are created by the memorandum of association, but the answer to that ..... perhaps, properly speaking, it might have been mentioned, and it stands by itself. what are conditions essential is indicated by the frame of the indian companies act, and the scheme contained therein, and it would be very unreasonable to hold that a condition of this nature which is after all, whatever way ..... an obligation imposed upon the company as part of its charter which cannot be altered, having regard to the terms of section 10 of the indian companies act. in my opinion, the argument is quite untenable, and the plaintiff's action is wholly misconceived. with whatever skill the real object of the ..... party, the terms of which have been arranged before the company was formed. it is for the company to consider after its formation whether it will enter into the contract or not.4. there is a further objection to the plaintiff's case in that, in my opinion, clause 6 of the .....Tag this Judgment!
Court : Allahabad
Decided on : Apr-20-1934
Reported in : AIR1934All855
..... of a director or officer of a company in relation to the public there is nothing in the indian companies act, to prevent such a clause being inserted in the articles of association. under the indian act therefore the public does not receive adeqate protection. it is for the government to consider whether the provision ..... . section 235 enacts as follows:where, in the course of winding up a company, it appears that any person who has taken part in the formation or promotion of the company, or any past or present director, manager, or liquidator or any officer of the company has misapplied or retained or ..... we now proceed to consider the question of the liability of vidyarthi. tandon, gopi nath rao bahadur kunwar sardar singh. under section 102(2) indian companies act, it is enacted that:if any director of a company knowingly contravenes or permits or authorizes the contravention of any of the provisions of section 101 ..... to the amount of rs. 85,000; that every director of the company had paid to the company on each of the shares taken or contracted to be taken by him, and for which he was liable to pay in cash a proportion equal to the proportion payable on application and allotment ..... memorandum of association. as far as the allotment to the signatories and the directors were concerned the allotment was wholly illegal. section 101 of the indian companies, act enacts:no allotment shall be made, unless the amount (if any) fixed by the memorandum of articles and named in the prospectus as the .....Tag this Judgment!
Court : US Supreme Court
Decided on : Jan-05-1934
..... all canals connecting boundary waters, and now existing or which may hereafter be constructed on either side of the line. either of the high contracting parties may adopt rules and regulations governing the use of such canals within its own territory, and may charge tolls for the use thereof ..... 2448, u.s. treaties, vol. 3, p. 2607. [ footnote 18 ] article i of the treaty of 1909 is as follows: "the high contracting parties agree that the navigation of all navigable boundary waters shall forever continue free and open for the purposes of commerce to the inhabitants and to the ships, ..... a corporation organized under the applicable laws of minnesota, for the erection of the structures at the cascades where the interests of the indian reservation were involved, necessarily implied acquiescence in the action by the state in authorizing the improvements which would accomplish the purpose which the congress ..... fowl lake. adjacent to the lower part of the pigeon river on the minnesota side lies the grand portage indian reservation, extending for a considerable distance along the stream. [ footnote 8 ] by the act of congress of march 3, 1901, [ footnote 9 ] the pigeon river company was authorized, under ..... of the pigeon river, there is probably about three hundred yards in length of alluvial formation; but the river above that, as far as to near fort charlotte, runs between steep cut rocks of basaltic or primitive formation, and is a succession of falls and rapids for nearly its whole length -- .....Tag this Judgment!
Court : US Supreme Court
Decided on : Jan-08-1934
..... legislation is to be found in chapter vi (vol. i) of bancroft's "history of the formation of the constitution of the united states," under the heading, "state laws impairing the obligation of contracts prove the need of an overruling union," pp. 230-236: "[in massachusetts] repeated temporary stay ..... chargeable by law thereon had been duly paid for each year since the making of the debt or contract. the georgia supreme court, 43 ga. 538, 544-546, had sustained the act as a measure made necessary by the desperate financial and economic conditions in that state due to the ..... no contention to the contrary. we are in a state of war; that is notorious. the subject matter of this contract has been seized by the state acting for the general good. salus populi suprema lex is a good maxim, and the enforcement of that essential law gives no ..... . . in 1782, . . . enacted a stay law extending to january, 1784, . . ." "georgia, in august, 1782, stayed execution for two years from and after the passing of the act. . . ." ". . . [in south carolina in 1782] the commencement of suits was suspended till ten days after the sitting of the next general assembly. . . . on the twenty-sixth day ..... existing conditions, foreclosure of many real estate mortgages by advertisement would prevent fair, open and competitive bidding in the manner contemplated by law. the act then provides, inter alia, as to foreclosure sales, that, where the period for redemption has not already expired, the mortgagor or owner in .....Tag this Judgment!
Court : US Supreme Court
Decided on : Apr-30-1934
..... to the west and south thereof were in the lower sand, known as the mississippi lime. these page 292 u. s. 277 witnesses testified that, in their judgment, the geological formation, and the experience with wells drilled on nearby lands, made it so unlikely that oil would be obtained as to justify a prudent operator in abstaining from drilling additional wells ..... . on the date of the expiration of the fixed term, sauder wrote the respondent stating that the lease had expired, and adding that he understood, if it was a profitable contract, respondent was supposed to operate, and, if not, he understood the term had run out, and the respondent should release all the tract except the portion on which the wells ..... prospecting and for operating the wells, should have the exclusive right to erect, lay, and maintain pipe, machinery, and structures necessary for producing, storing, or transporting oil or gas. the contract ran in favor of and against the heirs, assigns, successors, and personal representatives of the parties. to offset two wells drilled on adjoining property, the lessee completed one well in .....Tag this Judgment!