Court : Delhi
..... (other than an essentially derived variety), the registrar shall issue to the applicant a certificate of registration in the prescribed form and sealed with the seal of the registry and send a copy to the authority for determination of benefit sharing and to such other authority, as may be prescribed, for information. ..... . thus, even if it is held that the time period of two months as specified under section 21(4) of the act is directory, it would be of no benefit to kaveri .....
Tag this Judgment!Court : Delhi
..... (other than an essentially derived variety), the registrar shall issue to the applicant a certificate of registration in the prescribed form and sealed with the seal of the registry and send a copy to the authority for determination of benefit sharing and to such other authority, as may be prescribed, for information. ..... . thus, even if it is held that the time period of two months as specified under section 21(4) of the act is directory, it would be of no benefit to kaveri .....
Tag this Judgment!Court : Delhi
Reported in : 2003VIIIAD(Delhi)108; 105(2003)DLT987; 2003(71)DRJ732
..... regarding the essentials of the family settlement and the principles governing the existence of the same are made: 'a family arrangement is an agreement between members of the same family, intended to be generally and reasonably for the benefit of the family either by compromising doubtful or disputed rights or by preserving the family property or the peace and security of the family by avoiding litigation or by saving its honour.the agreement may be implied from a long course of ..... it has been further pleaded that a sum of rs.4,10,000/-has been spent by the defendants on the construction of the property over and above their sixty-five per cent share and that the plaintiff had admitted that this sum was due from him as on 30.9.1981 and interest at the rate of sixteen per cent per annum has been claimed by the ..... his cross examination this witness has stated that 'the partitioned wall remained on the first floor in the ratio of 65% and 35% but subsequently the plaintiff removed a portion of the wall to increase his share from 35% to 50% which was brought to the notice of the court and the local commissioner was appointed who gave his report to that effect accordingly'. ..... possession letter as well as the receipt of rent in the ratio of thirty-five per cent and sixty-five per cent is clearly indicative of the fact that the parties had agreed to share any usufruct or income from the suit property in accordance with the common ownership of the construction by all the brothers. .....
Tag this Judgment!Court : Delhi
Reported in : 93(2001)DLT359; 2001(60)DRJ803
..... and particularly in context of the purchase of the suit property in the name of the plaintiff is that it was as a consequence of an understanding that the plaintiff was appointed as a trustee of the property because of holding the same for the benefit of defendant no.2 as the acquisition of the plot in the name of the plaintiff was pursuant to his understanding and not that the plot shall vest exclusively in the plaintiff.9. ..... at all times it was clearly agreed and understood that the residential plot of land standing in the name of the plaintiff was held in trust in respect of the 1/2 share in the property for the benefit of defendant no.2 and both the plaintiff and jai kishan das had made declaration of the trust in regard to the said 1/2 share in the presence of various persons.'8. mr. ..... at a family gathering immediately after 27.1.1988 shri jai kishan das and the plaintiff herein in the presence of other near relatives, declared that 1/2 share in the property at 9, western avenue, maharani bagh, new delhi is being held in trust by plaintiff herein and the same shall thereafter continue to be held in trust for the benefit of defendant no.2. ..... at a family gathering immediately after 27.1.1998 shri jai kishan das and the plaintiff herein, in the presence of other near relatives, declared that 1/2 share in the property at 9, western avenue, maharani bagh, new delhi is being held in trust by the plaintiff herein and the same shall continue to be held in trust for the benefit of ms. .....
Tag this Judgment!Court : Delhi
Reported in : 1997VAD(Delhi)574; 68(1997)DLT717; 1997(43)DRJ181
..... being 9 western avenue, maharani bagh was applied for in the name of the plaintiff herein with an understanding that shri jai kishan das will designate one of the children of the defendant to be the beneficiary of 1`/2 share in the said property and balance 1/2 share to go to the benefit of the plaintiff herein. 10. ..... family gathering immediately after 27.01.1988 jai kishan das and the plaintiff, raj kishan das in the presence of the relations declared that 1/2 share in the suit property is held by the plaintiff in trustee and the plaintiff shall continue to be the trust for the benefit of the second defendant. ..... second and third defendants the plot was purchased in the name of the plaintiff with an understanding that shri jai kishan das will designate one of the children of the first defendant to be the beneficiary of 1/2 share in the said property and the balance 1/2 would go to the benefit of the plaintiff. ..... the title in the following terms: at all times it was clearly agreed and understood that the residential plot of land standing in the name of the plaintiff was held in trust in respect of the 1/2 share in the property for the benefit of ms. ..... gathering immediately after 27.01.1988 shri jai kishan das and the plaintiff herein, in the presence of other near relatives, declared that 1/2 share in the property at 9 western avenue, maharani bagh, new delhi, is being held in trust by plaintiff herein and the same shall thereafter continue to be held in trust for the benefit of ms. .....
Tag this Judgment!Court : Delhi
Reported in : 1997IIIAD(Delhi)309; 66(1997)DLT713; 1997(41)DRJ448
..... of the case and in view of the stand of the petitioner in the suit aforesaid, it cannot be said that the property at 2, tolstoy marg, new delhi, falling in the share of the petitioner and her husband, was ever dealt with as property of the partnership and the same was used during the course of the business and that seems to be the reason that petitioner has ..... or ' employed in the trade, but for the purpose of a mere speculation on account of the partnership.....again they may have been bought without reference to the purposes of the trade or the benefit of the partnership, with the intention of withdrawing from the trade the amount employed in the purchase, and converting that amount into separate property of the partners, or they may have been bought on ..... dissolution of the firm and it will, thereforee, be correct to say that, for the purposes of the indian partnership act, and irrespective of any mutual agreement between the partners, the share of each partner is, in the words of lindley : 'his proportion of the partnership assets after they have been all realised and converted into money, and all the partnership debts and liabilities ..... 'of recent years much ingenuity has been expended in certain quarters in attempting to devise methods of disposition of income by which those who were prepared to adopt them might enjoy the benefits of residence in this country while receiving the equivalent of such income, without sharing in the appropriate burden of british taxation. .....
Tag this Judgment!Court : Delhi
..... the other aspect is being raised by learned counsel for respondent no.2, we also want to make it clear in the absence of any complaint or formal order of disqualification, the benefit of proviso on its coming into force, must be made available to the petitioner, specially when the question of allotment of flat has arisen after proviso was inserted in the rules ..... and the allottee owns only an undivided share in the land, corresponding to such flat, the benefit of exemption would be available to the ..... , not disputed that insofar as the facts in the case of the petitioner are concerned, if this proviso is applicable, the petitioner would be entitled to the benefit of the proviso since the land share of the petitioner is less than 66.72 sq. ..... hand, learned counsel for the petitioner submits that the proviso being beneficial in nature, on the proviso coming into force, the benefit of the proviso should be made available to the petitioner. ..... learned counsel thus submits that the benefit of the proviso is not available ..... as per clause i(ii), where the individual share in the land on which the building stands, held by the allottee is less ..... meters it is thus the share of land which is material which in the present case is ..... of his dependent children, on lease hold or free-hold basis or on power of attorney or on agreement for sale; provided that disqualification of membership as laid down in sub-rule (l)(c)(i) shall not be applicable in case of co-sharers of property whose share is less than 66.72 sq. .....
Tag this Judgment!Court : Delhi
Reported in : [1986]60CompCas28(Delhi); 25(1984)DLT120; ILR1984Delhi688
..... in the case of a public limited company, however, when the public at large is invited to subscribe to the shares, and the benefit thereof is availed of by the company, it cannot still claim to retain the complexion of being the bastion or domain of a limited group where any intrusion by outsiders in the form of acquisition of shares is resisted and monopolistic vested defenses set up. ..... krishan kumar, appearing for the transferees, has made no secret that these transferees are not too keen to retain the shares, and that if the company or anybody wants to purchase those shares at the present market value, they are ready to transfer them. ..... it is alleged that by these purchases, the khaitan group would start owning about 6% shares in this company, and would thus be able to have substantial say in the management. ..... the basic character of a public limited company that any member of the public is entitled to subscribe to its shares remains, and must be upheld to the exclusion of any individuals or group interests. ..... the company court cannot look on patronizingly at the tendency displayed by managements of the companies or their shareholders to set at naught the too well-recognised concept of transferability of shares inherent in the company law and accepted all over the world. ..... thereby the appellants before the board, who where the transferees of certain shares, were made entitled to be registered as shareholders on the basic of those transfers. .....
Tag this Judgment!Court : Delhi
Reported in : [1984]55CompCas375(Delhi)
..... hurdle in the actual working of the association or was harmful to the interest of either the members or the association because it is well settled that a company whether limited by shares or guarantee is a legal entity whose power was to be exercised for the benefit of that entity and those exercising the powers were bound not merely by their duties towards the other members but also by their duty towards the company, vide gaiman v. ..... it is true that it is for the shareholder and not the court to determine whether or not the alteration is for the benefit of the company, and that the court will not lightly make any alteration, yet it also cannot be disputed that the power of the court when dealing ..... the articles provide that no person shall be 'eligible' to be a director or 'qualified to become' a director, unless he held so many shares, the holding of the necessary shares is a condition precedent to election, and the appointment of a person not already holding such shares will be invalid' (gore-browne on companies, 42nd edition, page 681). ..... it appears to me that the leading purpose of this is that it is designed to enable a corporation owning shares in a company to be in the same situation for the purpose of meetings of that latter company and voting at such meetings as would be the corporation if it were ..... any kind of misunderstanding, however unjustified as the parties are having litigation for long time, it seems to us that the benefit of the final views of the chairman like mr. .....
Tag this Judgment!Court : Delhi
Reported in : ILR1982Delhi117
..... i could have entered into alleged family arrangement as guardian of the minors, that the alleged family arrangement was for the benefit of the minors in as much as during the life time of a karta they were not entitled to take part in the management of any of the properties because domain of management belonged to the karta, that by way of ..... not be a competent guardian to enter into family arrangement on behalf of the minors for the simple reason that in case of such a family arrangement he as karta was aperson who had a share competing with a minor co-parcener and he could not be motivated only by benefit of a minor which is the approach required of a guardian. ..... . he explained that jatender lal was given, management of mohan orchards and that hence he got benefit under the alleged family arrangement which meant that he had ratified the same learned counsel also contended that satender lal, as per case ..... is mentioned in the sentence previous to the aforesaid statement which says that reversioner got benefit of the agreement and was given title to a property which is not the ..... learned counsel contended that as in the present case family arrangement was for the benefit of the minors the same could be enforced by them and that thereforee, same could be relied upon by ..... also on : air1928all102 and : air1936pat153 in support of the proposition that if a contract is made for the benefit of a minor, same is enforceable at the instance of the minor even though contract is void otherwise. .....
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