Court : Chennai
Decided on : Oct-14-1999
Reported in : 2000(1)CTC314
..... the pawnor in such a case would be placed in a position where he incurs a greater liability than he bargained for under the contract of pledge. the pawnee, therefore, can sue on the debt retaining the pledged goods as collateral security. if the debt is paid he has to return the ..... of the plaintiff bank as a 'hypothecatee' is more or less similar to the rights of a 'pawnee' as provided for under section 173 to 179 of the indian contract act, the only difference is the 'pawnee' being given possession of the goods pledged at the time of the transaction and the 'hypothecatee' not ..... hypotheca' (hypothecation) in which the possession of the thing pledged remained with the debtor, the obligation resting in mere contract without delivery. in one case possession was actually delivered to the creditor or pawnee, in the other it remained with the debtor. hypothecation has been defined as a right which a creditor has ..... pledge'. the 'bailor is called the 'pawnor'. the 'bailee' is called the 'pawnee'. the legal rights and liabilities of the 'pawnor' and 'pawnee' are found in sections 173 to 179 of the contract act. in the 4th edition of indian contract act by singhal & subrahmanyan's revised by a former learned judge of this court, ..... . if it is so, the learned senior counsel would contend that the plaintiff being in the position of a 'pawnee' had acted in violation of section 176 of the contract act, in that he had not given any notice to the first defendant before exercising the right of sale over .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Apr-09-1999
Reported in : 1999(3)ALD377; 1999(3)ALT443
..... unless and until the other loan for which he figures as a guarantor was also discharged. it was heldthat on repayment of the loan contracted by the petitioner, the contract of bailment/ pawn extinguishes and the bailee/pledgee/ pawnee is divested of his special property in the goods and the has to return the goods to the bailor/pledger/pawnor unless he has ..... interest of the debt, and all necessary expenses incurred by him in respect of the possession or for the preservation of the goods pledged. section174 provides that the pawnee shall not, in the absence of a contract to that effect, retain the goods pledged for any debt or promise other than the debt or promise for which they are pledged, but such ..... contract, in the absence of anything to the contrary, shall be presumed in regard to subsequent advances made by the pawnee.6. it is the contention of the petitioner that the general lien under section 171 is not available when there ..... right to retain, as a security for such balance, goods bailed to them, unless there is an express contract to the effect. sections173 and 174 of the act deal with pawnee's right of retainer of the goods pledged. section 173 provides that the pawnee may retain the goods pledged, not only for payment of the debt or the performance of the promise .....Tag this Judgment!
Court : Mumbai
Decided on : Sep-10-1999
Reported in : 2000(3)ALLMR154; 2000(2)BomCR719
..... no disputes on facts. the contentions are purely legal. now we would consider the first contention regarding applicability of section 176 of the contract act. section 176 provides for pawnee's right where pawnor makes default. it inter alia stipulates that on pawnor making default in payment of the debt, at the stipulated ..... of initial advance will always remain the principal sum and interest will always remain interest and the two can never emerge. it would depend on the contract between the parties. the definition of the word 'principal sum' as given in various dictionaries was held not to be relevant for the purpose ..... the respondents agreed to waive notice to them before appropriation of amount by the bank. the provisions of sections 126, 148 and 172 of the contract act also do not, in any manner, held the respondents in support of their contention that there is a legal obligation on the appellant to ..... defendants as rs. 24,768/- as aforesaid.10. the contentions urged by learned counsel for the appellant are:- (i) section 176 of the contract act vests absolute discretion in the bank to retain the security and sue for the amount due or to adjust the security at the point of time ..... of this document, but the dispute is regarding the interpretation of clause 6, object thereof and the applicability or otherwise of section 176 of the indian contract act, 1872.6. the trial court, by judgment and decree dated 27th december, 1995, decreed the suit jointly against both the defendants in the .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Patna
Decided on : Apr-19-1999
Reported in : (2000)72ITD544(Pat.)
..... that while the requirement was there that the agreement must have been made before 1-4-1976 there was no requirement under the proviso that the contract must have been approved by the central government before 1-4-1976. for the benefit of clear and quick reference we quote the proviso below : ..... maintained on behalf of the russian government. he contended that unless the contracts were approved, the payment would not have been possible. he argued that these facts coupled with the aforesaid letter of the ministry and other surrounding ..... to the government of india, ministry of energy (department of coal) also established and proved the claim that the government's approval of the contracts was there.5.4 the ld. counsel further submitted that admittedly the payment was made by the government of india by adjustment in the account ..... viz) of sub-section (1) of section 9 of the act was applicable in the case.5.3 as regards the approval of the aforesaid contracts by the central government, the ld. counsel submitted that they had been approved by the central government. in this connection he referred to letter from ..... central government. in the absence of any specific approval mentioning the date of approval, the ld. cit(a) did not accept the claim that the contracts had been approved by the central government before 1-4-1976. he, therefore, confirmed the assessing officer's actions for both the years.4. aggrieved .....Tag this Judgment!
Court : Rajasthan
Decided on : Jan-08-1999
Reported in : AIR1999Raj201; 1999(2)WLC667
..... the decree for specific performance. applying the ratio of aforesaid decisions to the instant case. i am of the view that no doubt the decree for specific performance of a contract though cannot be claimed as a matter of right yet, the court from which relief for specific performance is sought, should take into consideration not only recitals of the agreement ..... saurashtra land reforms act, 1951, the property became transferable by him and in these circumstances it was held by the apex court that it cannot, therefore, be said that the contract between the parties was a contingent one performance of which depended upon fulfilment of the condition under the earlier agreement by which the appellant/vendor had undertaken or imposed obligation ..... it is not enforceable because it is dependent upon consent of third parties namely respondent nos. 2 to 4 (financial institutions) are not sustainable notwithstanding there being no privity of contract between them and financial institutions because the present suit is for the enforcement and specific performance of clause 6 of mou (ex. 1) on the part of the contesting defendants ..... j. 1. this first appeal arises out of judgment & decree dated 19-11 -96 passed by the additional district judge no. 1, jaipur city whereby suit for specific performance of contract filed by plaintiff-appellant was dismissed. 2. prithvi raj singh (plaintiff-appellant) filed civil suit for specific performance of an agreement (ex. 1), which was duly executed on the basis .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Feb-02-1999
Reported in : 1999(2)ALD45; 1999(1)ALT801
..... at new delhi. the fourth respondent (first respondent in revision petition) failed to erect and commission the equipment and complete the work entrusted, and thus committed breach of contract which necessitated the petitioner company to invoke bank guarantees vide letter dated 6-1-1997 addressed to the bank. then the fourth respondent filed a criminal complaint against the ..... petitioner instead of settling the matter mutually sought for reference of the dispute to the arbitration. according to the first respondent it was the petitioner who committed breach of contract and not by the respondent. seeking to invoke bank guarantees without first settling the dispute mutually is illegal. thus contending the first respondent in the revision sought for ..... first go and settle the dispute with the person who executed the bank guarantees at whose instance the bank guarantees were issued. the scope of section 126 of the indian contract act has been explained by the division bench ofthe calcutta high court in national thermal power corporation ltd. v. hind galvanizing and engineering company limited, : air1990cal421 , wherein ..... sc 1996 scw 895 in state of maharashtra v. national construction company: the legal position, therefore, in that abank guarantee is ordinarily a contractquite distinct and independent of theunderlying contract, the performance ofwhich it seeks to secure. to that extent itcan be said to give rise to a cause ofaction separate from that of the underlyingcontract.' (para 6) .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Dec-06-1999
Reported in : (2000)75ITD414(Mum.)
..... dated july 27, 1995 (annexure j-1-7) giving therein the nature of assessee's business and enclosing therewith a copy of global service partnership contract (gsp contract).vide letter dated august 24, 1995 (annexure k 1-8) the assessee gave (para-8) reasons for computing deduction under section 80-o on ..... professional services to fed ex outside india. it was brought to the notice of the assessing officer that fed ex requires the assessee under its contract to render world class services as per the procedures and standards laid down in their operations, manuals and guides. it was on rendering such ..... nature of assessee's business would not entitle the assessee to claim deduction under section 80-o which is not self evident from the gsp contract itself. by presuming that the assessee is eligible to deduction under section 80-o the same was allowed without even raising any enquiry in ..... various operation manuals and guides. the services were rendered to fed ex under a contract on principal to principal basis and the same were much more than mere courier services. the assessee not only provided technical/professional services but ..... in rendering technical/professional services to fed ex which in turn enabled them to serve their clients abroad. therefore, it was not merely a contract for assisting fed ex for making deliveries. the assessee was rendering fed ex world class services as per the procedures and standards laid down in .....Tag this Judgment!
Court : Mumbai
Decided on : Apr-15-1999
Reported in : 1999(4)BomCR415; (1999)2BOMLR890
..... as brokers of the petitioner. the negotiations were held at bombay and the terms of the contract were finalised on 5th september, 1995 at bombay between the two brokers acting on behalf of their respective principals. harish thakkar also asserts that under instructions from the respondent, his ..... sale of indian toasted soyabean extraction through one anil thapar, a director of the respondent company, who represented to him that the respondent would be in position to supply the contracted quantity of the said goods. thereafter, there were negotiations with the petitioner through one padmanabhan iyer, working with m/s. alfred c. teopfer india exports ltd., who were acting ..... tribunal making its awardexparte as against the respondents.12. considering the material produced before the court, it is difficult to accept the contention of the respondent that there was no contract at all between the petitioner and the respondent with regard to supply of the goods in question. in fact, the affidavit of harish p. thakkar and shri padmanabhan iyer dated ..... respondent contends that the petition deserves to be dismissed and that it be declared that the foreign award is not enforceable for the following reasons:(i) that there was no contract at all between the petitioner and the respondent with regard to supply of any goods. hence, there could nut have been an arbitration agreement and, consequently all purported proceedings .....Tag this Judgment!
Court : Gujarat
Decided on : Dec-30-1999
Reported in : (2000)3GLR2217
..... which the resolution has been passed by the panchayat. (emphasis supplied). if the panchayat will not leave any time-gap between the resolution and the contract, this will become a tool in the hands of the panchayat to make redundant all the provisions, check and control on its acts and deeds of ..... not find any substance in the contention of the learned counsel for the petitioner that after the contract is executed, the authorities have no power to pass any order to suspend the resolution and ultimately to cancel it. if this contention is accepted, ..... undisputed and coupled with the fact that this concession has been sought on flimsy ground, leaves no doubt in the mind of the court that both contract and the concession are procured things. it is as a result of extending of benefits to the persons belonging to the same political party. i do ..... concession. it is too difficult to accept that there would have been any serious difference regarding scarcity or famine condition on 15-1-1986 when this contract was given and the day on which the application has been filed for giving of the concession. this concession is nothing but only a favour ..... of agreement of ijara and collected the octroi in pursuance of the agreement neither the respondent nos. 1 or 2 has power or authority to cancel the contract. lastly, it is contended that the petitioner has not taken any benefit of the interim relief which has been granted by this court in their favour .....Tag this Judgment!
Court : Mumbai
Decided on : Oct-08-1999
Reported in : 2000(1)BomCR455; 2000(2)MhLj331
..... petitioners during january, 1996. the petitioners made all the necessary arrangements for shipment of the material. the respondents, however, acted in breach of the contract. the contract is evidenced by a letter dated 23rd october, 1995 issued by the respondents brokers, m/s. reliance brokers at bombay. by this letter it was ..... the brokers are carrying on business in mumbai. the documents have been exchanged between the brokers in mumbai. the contract having been executed in mumbai, in my view, this court will have territorial jurisdiction to entertain a suit, if one was to be filed by ..... have to be accepted. relying on these averments, it is not possible for this court to come to the conclusion that there was no concluded contract.6. the only other submission made by mr. dharmadhikari is that this court has no territorial jurisdiction. it is to be seen that both ..... tribunal on the respondents and (iii) that this court has no territorial jurisdiction to entertain the enforcement petition as even if the existence of the contract is accepted, the same was neither executed in mumbai nor has it been breached/broken in mumbai. thus either under clause 12 of the ..... made in favour of the petitioners. 4. the respondents challenged the enforceability of this award on three grounds viz. (i) that there is no concluded contract between the parties and, therefore, the arbitration was without jurisdiction, (ii) that the award is liable to be set aside as it has been given .....Tag this Judgment!