Court : Kolkata
Decided on : Feb-19-1981
Reported in : AIR1982Cal365
..... neither is there any possibility of two interpretations in the section, it may be pertinent in this context to refer to two other sections of the contract act, namely, section 233 and section 234. section 233 provides that in cases where the agent is personally liable the party dealing with the agent may hold ..... it became liable by reason of the legal fiction created by statute as would appear from the second paragraph of section 230 of the contract act whereby such a contract would be presumed to exist in a case where the principal, though disclosed, could not be sued.8. to appreciate the argument, ..... to mr. sen the statute has gone so far as to provide for his liability even though the agent has not acted personally. he is presumed to have acted, though not acted in fact. the expression 'such a contract' in the second paragraph of the section would refer to the opening words herein, viz, 'in the absence of ..... participated in the formation of the contract 23. in the case of twycross v, dreyfus reported in (1877) 5 ch. d. 605 it was held that an agent could not be sued in the absence of a principal. mr. d. k. sen, on behalf of the appellant contends that the indian law in this ..... in the further alternative prayed for stay of the suit.2. the point involved in this appeal relates to the interpretation of section 230(3) of the contract act, 1872. the appellant no. 1 and the food corporation of india, the appellant no. 2 filed the suit against the respondents who were carrying on business .....Tag this Judgment!
Court : Chennai
Decided on : Feb-19-1981
Reported in : 54CompCas608(Mad)
..... requisites for the novation of a contract are well known (see s. 62 of the contract act). one of the requisites is that there must be an agreement of all the parties to the new contract on the principles generally applicable to the formation of contracts and it cannot be disputed that ..... of the vehicle, that the insurance company having accepted the transferee as the insured, there was a novation of the original contract by a fresh contract of indemnity between the insurance company and the transferee and therefore, the insurance company has to indemnify the transferee in relation to ..... the view that as there was no statutory provision either under the motor vehicles act or under the insurance act, about the transferee's right under the motor insurance policy, the contract of insurance being a contract of personal indemnity, cannot be assigned when it is transferred, though there can ..... the consent of parties to a novation may be established by circumstances showing such assent as well as by express words. it is true that whether there was an agreement to substitute a new contract ..... be a novation of the contract by which the original assured is released and a new .....Tag this Judgment!
Court : Gujarat
Decided on : May-04-1981
Reported in : (1981)24CTR(Guj)184; 131ITR42(Guj)
..... capital asset in question is brought in or introduced in the firm in which the assessee is a partner, s. 14 of the indian partnership act of 1932 (partnership act) reading as under would come into operation : 'subject to contract between the partners, the property of the firm includes all property and rights and interest in property originally brought into the stock of the ..... of his share in the surplus worked out after payment of all debts and liabilities would not constitute transfer, the transaction of introducing the property at the stage, of the formation of the partnership or at a subsequent stage which results in an extinguishment of the right of the partner introducing the capital asset in question in the partnership, would also ..... little bearing in regard to the question as to what is the legal effect of a transaction resulting from the introduction of a capital asset at the time of the formation of the partnership or subsequent thereto. the firm decision on the point is the one rendered by the supreme court in cit v. dewas cine corporation : 68itr240(sc) . the ..... . the broad facts in the background of which the question has arisen may now be outlined. the assessee introduced a capital asset in the form of shares soon after the formation of a partnership with his wife. the market value of the aforesaid capital asset (shares) was credited in the books of account of the partnership firm in the capital account .....Tag this Judgment!
Court : Kolkata
Decided on : Mar-24-1981
Reported in : (1982)1CompLJ52(Cal),131ITR578(Cal)
..... is preparatory to the initiation of a proceeding which is yet to be initiated. really, in the first stage, the competent authority discharges some administrative functions in the matter of formation of belief on the subjective satisfaction on the basis of certain materials. when, however, a proceeding is initiated, he proceeds judicially.10. we may consider the question from another point ..... or any moneys or other assets which have not been or which ought to be disclosed by the transferee for the purposes of the indian income-tax act, 1922 (11 of 1922), or this act or the wealth-tax act, 1957 (27 of 1957); the competent authority may, subject to the provisions of this chapter, initiate proceedings for the acquisition of such property under ..... transfer with the object of evasion of tax. accordingly, the learned judge held that as the presumption did not apply, there was no material before the competent authority for the formation of the belief that the consideration as agreed to between the transferor and the transferee was not truly stated in the instrument of transfer. in the aforesaid view of the ..... proceeded on the assumption that, the hindusthan building society ltd. was also one of the transferors, though the said society was only a confirming party, such erroneous assumption vitiated the formation of his belief and, consequently, the impugned notice.7. the learned judge, after considering the facts and circumstances of the case and the submissions made on behalf of either party .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Feb-24-1981
Reported in : AIR1981AP153
..... the canons of construction. in fateh chand v. balkishan dass, : 1scr515 the supreme court while construing section 74 of the indian contract act, held :'section 74 of the indian contract act is clearly an attempt to eliminate the somewhat elaborate refinements made under the english common law in distinguishing between stipulations providing for payment ..... xx xx xx xx xx xx xx xx xx xx xx xx'. 12. sections 124, 126, 128, 140 and 145 of the indian contract act read as under:'124. a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the ..... damage or loss is proved to have been caused thereby' (occurring in section 74 of the indian contract act) is intended to cover different classes of contracts which come before the courts. in case of breach of some contracts it may be impossible for the court to assess compensation arising from breach, while in other ..... of ex. a-2, speak to the guarantee and nothing else.17. secondly, in view of the last sentence, in section 126 of the contract act, namely, 'a contract may be either oral or written', ex. a-2 by necessary and irresistible implication ropes in the third-party, namely, the principal debtor as ..... the liability of the surety cannot be in excess of what the principal debtor would himself be liable.16. viewed in the context of the above format the document ex. a-2 may at first flush give the colour of indemnity as the third-party, viz., the principal debtor, does not .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Dec-30-1981
Reported in : AIR1982SC149; 1981Supp(1)SCC87; 2SCR365
..... ) of the constitution the court was precluded from ordering their disclosure and looking into them and the other was that they were protected against disclosure under section 123 of the indian evidence act since their disclosure would injure public interest. we propose to consider these rival arguments in the order in which we have set them out, first in regard to o ..... , and calls for making a choice of one or more considerations for executive action within the field of several considerations. when the chief justice of india is consulted on the formation of a policy by the president, the consultation involves an administrative choice operating on an administrative plane. when the president consults the chief justice of india under clause (1) ..... in many federal states. one has only to imagine twenty different laws -- if we have twenty states in the union -- of marriage, of divorce, of inheritance of property, family relations, contracts, torts, crimes, weights and measures, of bills and cheques, banking and commerce, of procedures for obtaining justice and in the standards and methods of administration. such a state of affairs ..... office during good behaviour and could not be removed; alternatively, that if he had been appointed during pleasure, the correspondence between the claimant and the secretary of state constituted a contract enforceable against the crown that the crown would employ him until he attained the age of 62. it was held by lord goddard, c. j. that the provisions of the .....Tag this Judgment!
Court : Supreme Court of India
Decided on : May-07-1981
Reported in : AIR1981SC1298; (1982)1CompLJ1(SC); 1981(2)SCALE959; (1981)3SCC333; 3SCR698
..... , 32, 38 and 50 and they read thus :article 11 : in order that the company may be a private company within the meaning of the indian companies act, 1913, the following provisions shall have effect, namely :(i) no invitation shall be issued to the public to subscribe for any shares, debentures, or ..... fera, the necessity to comply with the directives of the reserve bank the terms of niil's articles of association and the provisions of the indian companies act.24. on april 19, 1977 a notice was issued by niil's secretary intimating that a meeting of the board of directors will be ..... with the main appeal and our judgment therein will dispose of all the three appeals.3. the niil was incorporated as a private company under the indian companies act, 1913 on july 20, 1949 with its registered office at madras. its factory is situated at ketty, nilgiris. at the time of its incorporation ..... a group of the minority shareholders of niil after tracing the history of formation and composition of niil, the company petition states that the management of niil was in the hands of the board of directors in which the indian group had a large majority. the holding company had implicit trust in ..... adviser to the indian shareholders it was not thought that he was in any sense biassed in their favour. silverston's alleged personal hostility to coats cannot, within the meaning of section 300(1) of the companies act, make him a person 'directly or indirectly, concerned or interested in the contract or arrangement' .....Tag this Judgment!
Court : Delhi
Decided on : Nov-24-1981
Reported in : 54CompCas883(Delhi)
..... the firm is not entitled to any remuneration because it rendered no services. this defense related to the merits of the claim. this relates to the performance of the contract and not its formation. it is for the arbitrator to decide whether the firm is entitled to the money it claims. whether the claim will succeed or fail before the arbitrator is ..... . the arbitration clause says : 'any dispute or difference arising in regard to any of the terms contained in this agreement shall be settled in accordance with the provisions of the indian arbitration act, 1940.' the dispute between the parties is one which falls within the ambit of this clause. in my opinion, the clause is wide enough to comprehend it. the official ..... the shareholder of the company held on 6th august, 1968. a resolution to obtain the consent of the company under ss. 314 and 294 '(if applicable)' of the act in relation to the contract dated june 1, 1967, was proposed at the said meeting. it was resolved that a committee consisting of certain persons be constituted to negotiate with the firm and ..... the agreement. it says : 'any dispute or difference arising in regard to any of the terms contained in this agreement shall be settled in accordance with the provisions of the indian arbitration act, 1940'. it is the case of the firm that it was entitled to get rs. 10,000 per month as its fee under the agreement. the company did not .....Tag this Judgment!
Court : Karnataka
Decided on : Dec-17-1981
Reported in : ILR1982KAR622; (1982)ILLJ268Kant
..... a constitutional guarantee afforded by art. 311(2); and even as to commercial transactions, it is well known that if the contract is void, as for instance, under s. 23 of the indian contract act, the plea that it was executed by the party would be of no avail. in any case, we do not think ..... earlier as a measure of penalty or prematurely retired, after he had put in the prescribed number of years of service or age, on the formation of the opinion by the competent authority that the concerned employees has out-lived his utility at that stage itself. in other words the fixation of ..... removed earlier as a measure of penalty or prematurely retired, after he had put in the prescribed number of years of service or age, on the formation of the opinion by the competent authority that the concerned employees has out-lived his utility at that stage itself. in other words the fixation of ..... of article 12 has been fully expounded. 12. (1) in the case of r. d. shetty. (supra) supreme court traced the genesis of the formation of the government companies and held that they were the instrumentalities or the agencies of the state and were bound to conform to the fundamental rights in the same ..... to the president and governor under art. 310. but it is obvious that the relationship between the government and its servant is not like an ordinary contract of service between a master and servant. the legal relationship is something entirely different, something in the nature of status. it is much more than .....Tag this Judgment!
Court : Delhi
Decided on : Dec-18-1981
Reported in : 55CompCas375(Delhi)
..... are quoted. (14) the changes in the election rules made by the executive committee on may 19, 1979, were illegal and ultra virus the articles of association and the indian companies act. they were made with a view to disentitle the company members and the partnership firms from contesting elections. these changes were made to supersede the rules framed by this court ..... by the vice-president and another close associate of the general secretary. they were running the said picture and recovering their amounts by such trick. (6) the idea behind the formation of the company was to promote the trade and safeguard the interest of persons dealing in production, distribution, exhibition and exploitation of motion pictures. but the office bearers were exploiting ..... the removal from the membership is that he is completely thrown out of business as no member of the association (under the articles of the association) can have any cinematographic contract with a non-member. an application for ad interim injunction under o. 31, rr. 1 and 2 read with s. 151, cpc, was also moved. by a detailed order the ..... 7 of the articles of association entitle partnership firms and limited companies to become members. the articles of association are in the nature of a contract between its members and subject to the provisions of the companies act and memorandum of association constitute the working constitution of the company. there is no prohibition in the articles of association for the partnership firms .....Tag this Judgment!