Bare Act Search Results

All India Services Act, 1951 Complete Act

State: Central

Year: 1951

.....309, the Government of India is now compelled to deal with many of these matters by means of non-statutory executive orders. This is neither satisfactory nor quite justifiable. 2. Before the commencement of the Constitution, the Government of India issued the Indian Civil Administrative Cadre Rules and the Indian Police Service Cadre Rules. Although these Rules, in so far as they are not inconsistent with the Constitution, are continued in force by Article 313of the Constitution, they authorise the regulation of only such items relating to the conditions of service as had already been settled. Emergency recruitment to these services to fill the gaps left by the departure of the British element in the I.C.S. and the Indian Police was still in progress at that time. Many matters relating to the conditions of service of such officers were only decided after the Constitution had come into force. Other very important matters such as the fixation of retirement benefits have yet to be settled. Arrangements have also been completed recently to extend the Indian Administrative Service and the Indian Police Service schemes to the Part B States. 3. It is necessary that Parliament should.....

Companies Act, 1956 Section 64

Title: Document Containing Offer of Shares or Debentures for Sale to Be Deemed Prospectus

State: Central

Year: 1956

.....date when the offer was made, the whole consideration to be received by the company in respect of the shares or debentures had not been received by it. (3) Section 56 as applied by this section shall have effect as if it required a prospectus to State in addition to the matters required by that section to be stated in a prospectus (a) the net amount of the consideration received or to be received by the company in respect of the shares or debentures to which the offer relates; and (b) the place and time at which the contract under which the said shares or debentures have been or are to be allotted may be inspected. (4) Section 60 as applied by this section shall have effect as if the persons making the offer were persons named in a prospectus as directors of a company. (5) Where a person making an offer to which this section relates is a company or a firm, it shall be sufficient if the document referred to in sub-section (1) is signed on behalf of the company or firm by two directors of the company or by not less than one-half of the partners in the firm, as the case may be; and any such director or partner may sign by his agent authorised in writing.

Companies Act, 2013, Section 25

Title: Document Containing Offer of Securities for Sale to Be Deemed Prospectus

State: Central

Year: 2013

.....made within six months after the allotment or agreement to allot; or (b) that at the date when the offer was made, the whole consideration to be received by the company in respect of the securities had not been received by it. (3) Section 26 as applied by this section shall have effect as if-- (i) it required a prospectus to state in addition to the matters required by that section to be stated in a prospectus-- (a) the net amount of the consideration received or to be received by the company in respect of the securities to which the offer relates; and (b) the time and place at which the contract where under the said securities have been or are to be allotted may be inspected; (ii) the persons making the offer were persons named in a prospectus as directors of a company. (4) Where a person making an offer to which this section relates is a company or a firm, it shall be sufficient if the document referred to in sub-section (1) is signed on behalf of the company or firm by two directors of the company or by not less than one-half of the partners in the firm, as the case may be.

Companies Act, 2013, Section 42

Title: Offer or Invitation for Subscription of Securities on Private Placement

State: Central

Year: 2013

.....buyers and employees of the company being offered securities under a scheme of employees stock option as per provisions of clause (b) of sub-section (1) of section 62], in a financial year and on such conditions (including the form and manner of private placement) as may be prescribed. Explanation I.--If a company, listed or unlisted, makes an offer to allot or invites subscription, or allots, or enters into an agreement to allot, securities to more than the prescribed number of persons, whether the payment for the securities has been received or not or whether the company intends to list its securities or not on any recognised stock exchange in or outside India, the same shall be deemed to be an offer to the public and shall accordingly be governed by the provisions of Part I of this Chapter. Explanation II.--For the purposes of this section, the expression-- (i) "qualified institutional buyer" means the qualified institutional buyer as defined in the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time. (ii) "private placement" means any offer of securities or invitation to subscribe.....

Indian Contract Act, 1872 Section 38

Title: Effect of Refusal to Accept Offer of Performance

State: Central

Year: 1872

.....of what he is bound by his promise to do; (3) if the offer is an offer to deliver anything to the promisee, the promisee must have a reasonable opportunity of seeing that the thing offered is the thing which the promisor is bound by his promise to deliver. (4) An offer to one of several joint promisees has the same legal consequences as an offer to all of them. Illustration A contracts to deliver to B at his warehouse, on the 1st March, 1873, 100 bales of cotton of a particular quality. In order to make an offer of a performance with the effect stated in this section, A must bring the cotton to B's warehouse, on the appointed day, under such circumstances that B may have a reasonable opportunity of satisfying himself that the thing offered is cotton of the quality contracted for, and that there are 100 bales.

Indian Partnership Act, 1932 Chapter VI

Title: Dissolution of a Firm

State: Central

Year: 1932

.....that of the firm within a specified period or within specified local limits; and notwithstanding anything contained in section 27 of the Indian Contract Act, 1872, (9 of 1872), such agreement shall be valid if the restrictions imposed are reasonable. Section 55 - Sale of goodwill after dissolution (1) In settling the accounts of a firm after dissolution, the goodwill shall, subject to contract between the partners, be included in the assets, and it may be sold either separately or along with other property of the firm. Rights of buyer and seller of goodwill.(2) Where the goodwill of a firm is sold after dissolution, a partner may carry on a business competing with that of the buyer and he may advertise such business, but, subject to agreement between him and the buyer, he may not,X (a) use the firm name, (b) represent himself as carrying on the business of the firm, or (c) solicit the custom of persons who were dealing with the firm before its dissolution. Agreements in restraint of trade.(3) Any partner may, upon the sale of the goodwill of a firm, make an agreement with the buyer that such partner will not carry on any business similar to that of the firm within a.....

Indian Partnership Act, 1932 Chapter 7

Title: Registration of Firms

State: Central

Year: 1932

.....of Firms shall, as against any person by whom or on whose behalf such statement, intimation or notice was signed, be conclusive proof of any fact therein stated. (2) A certified copy of an entry relating to a firm in the Register of Firms may be produced in proof of the fact of the registration of such firm, and of the contents of any statement, intimation or notice recorded or noted therein. Section 69 - Effect of non-registration (1) No suit to enforce a right arising from a contract or conferred by this Act shall be instituted in any court by or on behalf of any person suing as a partner in a firm against the firm or any person alleged to be or to have been a partner in the firm unless the firm is registered and the person suing is or has been shown in the Register of Firms as a partner in the firm. (2) No suit to enforce a right arising from a contract shall be instituted in any court by or on behalf of a firm against any third party unless the firm is registered and the persons suing are or have been shown in the Register of Firms as partners in the firm. (3) The provisions of sub- sections (1) and (2) shall apply also to a claim of set- off or other.....

Capital Issues (Control) Act, 1947 [Repealed] Section 4

Title: Control of Advertisement of Offers of Securities for Subscription Etc.

State: Central

Year: 1947

.....been accorded by the Central Government under this to the issue or creation of such securities and a statement has been made to that effect in the offer. (3) No person shall without the consent of the Central Government circulate any offer, being a public offer, in the States for the sale of any securities issued or created with the consent or recognition of the Central Government if such issue or creation was made by a private company or if the order according consent or recognition contained a condition that the securities should be privately subscribed.] _______________________ 1. Substituted by the Capital Issues (Control) Amendment Act (Act 50 of 1957) w.e.f 21.12.1957.

Companies Act, 1956 Section 67

Title: Construction of References to Offering Shares or Debentures to the Public, Etc

State: Central

Year: 1956

.....or debenture-holders of the company concerned or as clients of the person issuing the prospectus or in any other manner. (2) Any reference in this Act or in the articles of a company to invitations to the public to subscribe for shares or debentures shall, subject as aforesaid, be construed as including a reference to invitations to subscribe for them extended to any section of the public, whether selected as members or debenture-holders of the company concerned or as clients of the person issuing the prospectus or in any other manner. (3) No offer or invitation shall be treated as made to the public by virtue of sub­section (1) or sub-section (2), as the case may be, if the offer or invitation can properly be regarded, in all the circumstances - (a) as not being calculated to result, directly or indirectly, in the shares or debentures becoming available for subscription or purchase by persons other than those receiving the offer or invitation; or (b) otherwise as being a domestic concern of the persons making and receiving the offer or invitation: 1[Provided that nothing contained in this sub-section shall apply in a case where the offer or invitation to subscribe.....

Income Tax Act, 1961 Chapter XVI

Title: Special Provision Applicable to Firms

State: Central

Year: 1961

.....in constitution, succession and dissolution Section 187 - Change in constitution of a firm (1) Where at the time of making an assessment under section 143 or section 144 it is found that a change has occurred in the constitution of a firm, the assessment shall be made on the firm as constituted at the time of making the assessment. Proviso omitted by the Finance Act, 1992, with effect from 1st April, 1993. (2) For the purposes of this section, there is a change in the constitution of the firm (a) if one or more of the partners cease to be partners or one or more new partners are admitted, in such circumstances that one or more of the persons who were partners of the firm before the change continue as partner or partners after the change; or (b) where all the partners continue with a change in their respective shares or in the shares of some of them: Provided that nothing contained in clause (a) shall apply to a case where the firm is dissolved on the death of any of its partners. Section 188 - Succession of one firm by another firm Where a firm carrying on a business or profession is succeeded by another firm, and the case is not one covered by section 187,.....