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Start Free TrialMajority Act, 1875 Preamble 1
Title: Majority Act, 1875
State: Central
Year: 1875
THE MAJORITY ACT, 18751 [Act, No. 9 of 1875] [2nd March, 1875] PREAMBLE An Act to amend the law respecting the age of majority. WHEREAS, in the case of persons domiciled in2[India] it is expedient3[to specify the age of majority]; It is hereby enacted as follows:-- ________________________ 1. This act has been extended to Dadra and Nagar Haveli by REg. 6 of 1963, sec. 2 and Sch. I and the whole of the Union territory of Lakshadweep by Reg. 8 of 1965, sec. 3 and Sch. This Act has been extended to Pondicherry by Act 26 of 1968, subject to the following modification:-- In section 1 at the end, insert:-- "Provided the nothing contained in this Act shall apply to the Renoncants of the union territory of Pondicherry.". 2. Substituted by Act 3 of 1951, sec. 3 and Sch., for "Part a States and Part C States". 3. Substituted by Act 33 of 1999 sec. 2, for certain words (w.e.f. 16-12-1999).
View Complete Act List Judgments citing this sectionMajority Act, 1875 Section 3
Title: Age of Majority of Persons Domiciled in India
State: Central
Year: 1875
1[3. Age of majority of persons domiciled in India (1) Every person domiciled in India shall attain the age of majority on his completing the age of eighteen years and not before. (2) In computing the age of any person, the day on which he was born is to be included as a whole day and he shall be deemed to have attained majority at the beginning of the eighteenth anniversary of that day.] ________________________ 1. Substituted by Act 33 of 1999, sec 4 for sections 3 and 4 (w.e.f. 16-12-1999).
View Complete Act List Judgments citing this sectionMajority Act, 1875 Complete Act
Title: Majority Act, 1875
State: Central
Year: 1875
Preamble1 - MAJORITY ACT, 1875 Section1 - Short title Section2 - Saving Section3 - Age of majority of persons domiciled in India
List Judgments citing this sectionCompanies Act, 1956 Chapter 5
Title: Arbitrations, Compromises, Arrangements and Reconstructions
State: Central
Year: 1956
.....of 2003, Section 41, for "Court". 2. Added by Act 31 of 1965, Section 49 (w.e.f. 15-10-1965). 3. The words "the Company Law Board or" omitted by Act 11 of 2003, Section 41. 4. Substituted by Act 31 of 1965, Section 62 and Schedule, for "fourteen" (w.e.f. 15-10-1965). 5. Substituted by Act 53 of 2000, Section 176, for "fifty rupees" (w.e.f. 13-12-2000). Section 394A - Notice to be given to Central Government for applications under sections 391 and 394 1[394A. Notice to be given to Central Government for applications under sections 391 and 394. - The2[Tribunal] shall give notice of every application made to it under section 391 or 394 to the Central Government, and shall take into consideration the representations, if any, made to it by that Government before passing any order under any of these sections.] ____________________ 1.Inserted by Act 31 of 1965, Section 50 (w.e.f. 15-10-1965). 2.Substituted by Act 11 of 2003, Section 42, for "Court". Section 395 - Power and duty to acquire shares of shareholders dissenting from scheme or contract approved by majority (1) Where a scheme or contract involving the transfer of shares or any class of shares in a.....
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 230
Title: Power to Compromise or Make Arrangements with Creditors and Members
State: Central
Year: 2013
.....company or any other person, by whom an application is made under subsection (1), shall disclose to the Tribunal by affidavit-- (a) all material facts relating to the company, such as the latest financial position of the company, the latest auditor's report on the accounts of the company and the pendency of any investigation or proceedings against the company; (b) reduction of share capital of the company, if any, included in the compromise or arrangement; (c) any scheme of corporate debt restructuring consented to by not less than seventy-five per cent. of the secured creditors in value, including-- (i) a creditor's responsibility statement in the prescribed form; (ii) safeguards for the protection of other secured and unsecured creditors; (iii) report by the auditor that the fund requirements of the company after the corporate debt restructuring as approved shall conform to the liquidity test based upon the estimates provided to them by the Board; (iv) where the company proposes to adopt the corporate debt restructuring guidelines specified by the Reserve Bank of India, a statement to that effect; and (v) a valuation report in respect of the shares and the.....
View Complete Act List Judgments citing this sectionLimited Liability Partnership Act 2008 Chapter XII
Title: Compromise, Arrangement or Reconstruction of Limited Liability Partnerships
State: Central
Year: 2008
.....any other person by whom an application has been made under sub-section (1) has disclosed to the Tribunal, by affidavit or otherwise, all material facts relating to the limited liability partnership, including the latest financial position of the limited liability partnership and the pendency of any investigation proceedings in relation to the limited liability partnership. (3) An order made by the Tribunal under sub-section (2) shall be filed by the limited liability partnership with the Registrar within thirty days after making such an order and shall have effect only after it is so filed. (4) If default is made in complying with sub-section (3), the limited liability partnership, and every designated partner of the limited liability partnership shall be punishable with fine which may extend to one lakh rupees. (5) The Tribunal may, at any time after an application has been made to it under this section, stay the commencement or continuation of any suit or proceeding against the limited liability partnership on such terms as the Tribunal thinks fit, until the application is finally disposed of. Section 61 - Power of Tribunal to enforce compromise or arrangement (1).....
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 391
Title: Power to Compromise or Makearrangements with Creditors and Members
State: Central
Year: 1956
.....or any other person by whom an application has been made under sub-section (1) has disclosed to the court, by affidavit or otherwise, all material facts relating to the company, such as the latest financial position of the company, the latest auditor's report on the accounts of the company, the pendency of any investigation proceedings in relation to the company under sections 235 to 351, and the like.] (3) An order made by the 1[Tribunal] under sub-section (2) shall have no effect until a certified copy of the order has been filed with the Registrar. (4) A copy of every such order shall be annexed to every copy of the memorandum of the company issued after the certified copy of the order has been filed as aforesaid, or in the case of a company not having a memorandum, to every copy so issued of the instrument constituting or defining the constitution of the company. (5) If default is made in complying with sub-section (4), the company, and every officer of the company who is in default, shall be punishable with fine which may extend to 4 [one hundred rupees] for each copy in respect of which default is made. (6) The 1[Tribunal] may, at any time after an application has.....
View Complete Act List Judgments citing this sectionLimited Liability Partnership Act 2008 Section 60
Title: Compromise or Arrangement of Limited Liability Partnership
State: Central
Year: 2008
.....the limited liability partnership or any other person by whom an application has been made under sub-section (1) has disclosed to the Tribunal, by affidavit or otherwise, all material facts relating to the limited liability partnership, including the latest financial position of the limited liability partnership and the pendency of any investigation proceedings in relation to the limited liability partnership. (3) An order made by the Tribunal under sub-section (2) shall be filed by the limited liability partnership with the Registrar within thirty days after making such an order and shall have effect only after it is so filed. (4) If default is made in complying with sub-section (3), the limited liability partnership, and every designated partner of the limited liability partnership shall be punishable with fine which may extend to one lakh rupees. (5) The Tribunal may, at any time after an application has been made to it under this section, stay the commencement or continuation of any suit or proceeding against the limited liability partnership on such terms as the Tribunal thinks fit, until the application is finally disposed of.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 392
Title: Power Oftribunal to Enforce Compromise and Arrangement
State: Central
Year: 1956
.....such order or at any time thereafter, give such directions in regard to any matter or make such modifications in the compromise or arrangement as it may consider necessary for the proper working of the compromise or arrangement. (2) If the Tribunal aforesaid is satisfied that a compromise or an arrangement sanctioned under section 391 cannot be worked satisfactorily with or without modifications, it may, either on its own motion or on the application of any person interested in the affairs of the company, make an order winding up the company, and such an order shall be deemed to be an order made under section 433 of this Act. (3) The provisions of this section shall, so far as may be, also apply to a company in respect of which an order has been made before the commencement of the Companies (Amendment) Act, 2001 sanctioning a compromise or an arrangement.] _______________________ 1. Substituted by Act 11 of 2003, section 40, for section 392 (See Annexe).
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 231
Title: Power of Tribunal to Enforce Compromise or Arrangement
State: Central
Year: 2013
(1) Where the Tribunal makes an order under section 230 sanctioning a compromise or an arrangement in respect of a company, it-- (a) shall have power to supervise the implementation of the compromise or arrangement; and (b) may, at the time of making such order or at any time thereafter, give such directions in regard to any matter or make such modifications in the compromise or arrangement as it may consider necessary for the proper implementation of the compromise or arrangement. (2) If the Tribunal is satisfied that the compromise or arrangement sanctioned under section 230 cannot be implemented satisfactorily with or without modifications, and the company is unable to pay its debts as per the scheme, it may make an order for winding up the company and such an order shall be deemed to be an order made under section 273. (3) The provisions of this section shall, so far as may be, also apply to a company in respect of which an order has been made before the commencement of this Act sanctioning a compromise or an arrangement.
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