Court : Guwahati
Decided on : Sep-03-2009
Reported in : 151CompCas583(Gauhati)
..... within the meaning of this section.130. before proceeding further, it needs to be noted that unlike special penal statutes, such as, prevention of food adulteration act, essential commodities act, etc., the indian penal code does not make specific provisions for prosecution of a company or of the directors or managing directors of a company. can, in such circumstances, a ..... creation of such legal fiction of vicarious liability, the statute, as noted in maksud saiyed (supra) and s.k. alagh (supra), specifically provides therefor, whereas and the indian penal code does not contain any such specific provision making the director or the managing director vicariously liable for the offence of 'criminal breach trust', which their company might have ..... the legal connotation of the word 'whoever7 and it necessarily takes in corporate liability and includes any association of persons such as a partnership firm.143. i may, however, hasten to add that the foreign exchange regulation act, 1973, specifically provided, with the help of section 23c, prosecution for offences committed by companies. there is no such specific provision, ..... an offender, it uses the expression 'whoever' ; whereas, while referring to a victim, both section 405 as well as section 415 uses the expression 'person'. in fact, the indian penal code, when defining offences and prescribing punishments, has, generally, used the expression 'whoever' while referring to the offender and not the word 'person'. only some sections, such as .....Tag this Judgment!
Court : Guwahati
Decided on : Dec-02-2009
Reported in : 153CompCas579(Gauhati)
..... a certain small number (originally 25 but reduced to 20 in 1856). this prohibition was contained most recently in section 716(1) of the companies act 1985 and (for limited partnerships) section 4(2) of the limited partnerships act 1907, in each case subject to certain exemptions. this prohibition had been regarded as outdated for some time. the abolition of the maximum number was ..... , i may pause here to point out that the term 'contingent', when appended to the term 'contract', determines the time for the performance of the contract. section 31 of the indian contract act, 1872, states that a 'contingent contract' is a contract to do or not to do something if some event, collateral to such contract, does or does not happen. in ..... to be done or not be done, and embedded, in this principal contract, is the collateral contract of contingency. sections 32, 33, 34 are various contingencies contemplated in the indian contract act, 1872.194. so far as the performance of contract is concerned, the courts can direct specific performance only in a concluded contract. the principal contract, in a contingent contract, cannot ..... or members.86. i may pause here to point out the provisions, which we find contained in chapter vi, are provisions, which were introduced, for the first time, in the indian companies act, 1913, in the form of section 153-c, section 153-c being based, in turn, on section 210 of the english companies .....Tag this Judgment!
Court : Guwahati
Decided on : Mar-25-2009
Reported in : AIR2009Gau110
..... an arbitration clause to file an application under section 9 of the a & c act.10. the term 'party' has been defined in section 2(1)(h) of the arbitration and conciliation ..... after arbitral proceedings by virtue of section 9 of the a & c act. the relief sought for an application under section 9 of the a & c act is neither in a suit nor a right arising from a contract. the right arising from the partnership deed or conferred by the partnership act is being enforced in the arbitral tribunal; the court under section 9 is ..... only formulating interim measures so as to protect the right under adjudication before the arbitral tribunal from being frustrated. section 69 of the partnership act has no bearing on the right of a party to ..... in relation to which the power under section 9 is sought to be exercised is the arbitral tribunal. under the scheme of the a & c act, the arbitration clause is separable from other clauses of the partnership deed. the arbitration clause constitutes an agreement by itself. in short, filing of an application by a party by virtue of its being a party .....Tag this Judgment!