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Home Bare Acts Phrase: qualified disclaimerCompanies Act, 1956 Section 535
Title: Disclaimer of Onerous Property in Case of a Company Which is Being Wound Up
State: Central
Year: 1956
.....or assignment for the purpose: Provided that, where the property disclaimed is of a lease-hold nature the1[Tribunal] shall not make a vesting order in favour of any person claiming under the company, whether as under-lessee or as mortgage or holder of a charge by way of demise, except upon the terms of making that person-- (a) subject to the same liabilities and obligations as those to which the company was subject under the lease in respect of the property at the commencement of the winding up; or (b) if the1[Tribunal] thinks fit, subject only to the same liabilities and obligations as if the lease had been assigned to that person at that date; and in either event (if the case so requires) as if the lease had comprised only the property comprised in the vesting order; and any mortgagee or under-lessee declining to accept a vesting order upon such terms shall be excluded from all interest in and security upon the properly, and, if there is no person claiming under the company who is willing to accept an order upon such terms, the1[Tribunal] shall have power to vest the estate and interest of the company in the property in any person liable, either personally or in a.....
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 333
Title: Disclaimer of Onerous Property
State: Central
Year: 2013
.....or assignment for the purpose: Provided that where the property disclaimed is of a leasehold nature, the Tribunal shall not make a vesting order in favour of any person claiming under the company, whether as under-lessee or as mortgagee or holder of a charge by way of demise, except upon the terms of making that person-- (a) subject to the same liabilities and obligations as those to which the company was subject under the lease in respect of the property at the commencement of the winding up; or (b) if the Tribunal thinks fit, subject only to the same liabilities and obligations as if the lease had been assigned to that person at that date, and in either event as if the lease had comprised only the property comprised in the vesting order, and any mortgagee or under-lessee declining to accept a vesting order upon such terms shall be excluded from all interest in, and security upon the property, and, if there is no person claiming under the company who is willing to accept an order upon such terms, the Tribunal shall have power to vest the estate and interest of the company in the property in any person liable, either personally or in a representative character,.....
View Complete Act List Judgments citing this sectionPresidency-towns Insolvency Act, 1909 Section 62
Title: Disclaimer of Onerous Property
State: Central
Year: 1909
.....of any other property that is unsaleable, or not readily saleable, by reason of its binding the possessor thereof to the performance of any onerous act or to the payment of any sum of money, the official assignee may, notwithstanding that he may have endeavoured to sell or have taken possession of the property, or exercised any act of ownership in relation thereto, but subject always to the provisions hereinafter contained in that behalf, by writing signed by him, at any time within twelve months after the insolvent has been adjudged insolvent, disclaim the property: Provided that, where any such property has not come to the knowledge of the official assignee within one month after such adjudication as aforesaid, he may disclaim the property at any time within twelve months after he has first become aware thereof. (2) The disclaimer shall operate to determine, as from the date thereof, the rights, interest and liabilities of the insolvent and his property in or in respect of the property disclaimed, and shall also discharge the official assignee from all personal liability in respect of the property disclaimed as from the date when the property vested in him, but shall not,.....
View Complete Act List Judgments citing this sectionTrade and Merchandise Marks Act, 1958 [Repealed] Section 17
Title: Registration of Trade Marks Subject to Disclaimer
State: Central
Year: 1958
If a trade mark-- (a) contains any part-- (i) which is not the subject of a separate application by the proprietor for registration as a trade mark; or (ii) which is not separately registered by the proprietor as a trade mark; or (b) contains any matter which is common to the trade or is otherwise of a non-distinctive character; the tribunal, in deciding whether the trade mark shall be entered or shall remain on the register, may require as a condition of its being on the register, that the proprietor shall either disclaim any right to the exclusive use of such part or of all or any portion of such matter, as the case may be, to the exclusive use of which the tribunal holds him not to be entitled, or make such other disclaimer as the tribunal may consider necessary for the purpose of defining the rights of the proprietor under the registration: Provided that no disclaimer shall affect any rights of the proprietor of a trade mark except such as arise out of the registration of the trade mark in respect of which the disclaimer is made.
View Complete Act List Judgments citing this sectionPresidency-towns Insolvency Act, 1909 Section 64
Title: Power to Call on Official Assignee to Disclaim
State: Central
Year: 1909
The Official assignee shall not be entitled to disclaim any property in pursuance of section 62 in any case where an application of in writing has been made to the official assignee by any person interested in the property requiring him to decide whether he will disclaim, and the official assignee has for a period of twenty-eight days after the receipt of the application, or such extended period as may be allowed by the Court, declined or neglected to give notice that he disclaims the property; and in the case of a contract, if the official assignee, after such application as aforesaid, does not within the said period or extended period disclaim the contract, he shall be deemed to have adopted it.
View Complete Act List Judgments citing this sectionPresidency-towns Insolvency Act, 1909 Section 66
Title: Power for Court to Make Vesting Order in Respect of Disclaimed Property
State: Central
Year: 1909
.....any transfer for the purpose: Provided always, that, where the property disclaimed is of a leasehold nature, the Court shall not make a vesting order in favour of any person claiming under the insolvent, whether as under-lessee or as mortgagee except upon the terms of making such person subject to the same liabilities and obligations as the insolvent was subject to under the lease in respect of the property at the date when the insolvency petition was filed, and any under-lessee or mortgagee declining to accept a vesting order upon such terms shall be excluded from all interest in and security upon the property, and if there is no person claiming under the insolvent who is willing to accept an order upon such terms, the Court shall have power to vest the insolvent's interest in the property in any person liable either personally or in a representative character, and either alone or jointly with the insolvent, to perform the lessee's covenants in such lease, freed and discharged from all estates, incumbrances and interests created therein by the insolvent. (2) The Court may, if it thinks fit, modify the terms prescribed by the foregoing proviso so as to make a person in.....
View Complete Act List Judgments citing this sectionIndian Trusts Act, 1882 Section 44
Title: Power to Several Trustees of Whom One Disclaims or Dies
State: Central
Year: 1882
When an authority to deal with the trust-property is given to several trustees and one of them disclaims or dies, the authority may be exercised by the continuing trustees, unless from the terms of the instrument of trust it is apparent that the authority is to be exercised by a number in excess of the number of the remaining trustees.
View Complete Act List Judgments citing this sectionPresidency-towns Insolvency Act, 1909 Section 63
Title: Disclaimer of Leaseholds
State: Central
Year: 1909
Subject always to such rules as may be made in this behalf, the official assignee shall not be entitled to disclaim any leasehold interest without the leave of the Court; and the Court may, before or on granting such leave, require such notices to be given to persons interested, and impose such terms as a condition of granting leave, and make such orders with respect to fixtures, tenant's improvements and other matters arising out of the tenancy, as the Court thinks just.
View Complete Act List Judgments citing this sectionPresidency-towns Insolvency Act, 1909 Section 67
Title: Persons Injured by Disclaimer May Prove
State: Central
Year: 1909
Any person injured by the operation of a disclaimer under by the foregoing provisions shall be deemed to be a creditor of the insolvent to the amount of the injury, and may accordingly prove the same as a debt under the insolvency.
View Complete Act List Judgments citing this sectionNational Service Act, 1972 Section 8
Title: Power of Central Government to Require Any Employer to Release Qualified Persons
State: Central
Year: 1972
.....person. (3) No contract, subsisting between a qualified person and his employer on the date of release of the qualified person for employment in national service, shall be enforceable until such qualified person has been discharged from national service. (4) In computing the period specified in any contract of service in relation to a qualified person who has been called upon to render national service, the period of national service actually rendered by such qualified person shall be excluded. (5) If any employer fails without sufficient cause to comply with the order made under subsection (1), he shall be liable to be punished with imprisonment for a term which may extend to three years and also with fine which may extend to one thousand rupees.
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