Court : Gujarat
Reported in : 2006CriLJ3180; (2006)3GLR2043
..... pretext of negotiated export bills said to be remaining unpaid and not liquidated by the company is a mischief and cheating of the bank and the accused persons, it also amounts to fraud of the bank under section 17 of the indian contract act, 1872. ..... tirmizi has further submitted that the modus operandi of the bank to misuse the power by giving so called demand notice of one day to the company being so called borrower is to abuse the rdb act, 1993 for filing the said so called original application in violation of the natural justice for making false claim under section 209 by giving false and fabricated statements, information and evidences under sections 177, ..... since the present petitioners / original accused are of the view that the complainant has failed to disclose commission of any offence and as the very act of the complainant in lodging such a false, frivolous and vexatious complaint is a gross abuse of process of law, the present petitioners / original accused persons have preferred this petition invoking the inherent powers of this court under ..... 001/26/2003-boa dated october 19, 2004 under section 3(2b)(c) of the banking companies (acquisition & transfer of undertaking) act, 1970, as amended and the resolution passed at the meeting of board of directors of the bank on october 23, 2003 and the shareholders of the bank at the egm held on november 25, 2003. .....
Tag this Judgment!Court : Gujarat
Reported in : AIR2007Guj188; (2007)3GLR2349
..... petitioners from the suit, as according to the petitioners, the security which was available with creditor bank had been lost and hence, in terms of provisions of sections 139 and 141 of the indian contract act, 1872 the petitioners, as sureties, were required to be discharged. ..... under section 139 of the contract act if the creditor does any act which is inconsistent with the rights of the surety, or omits to do any act which the creditor is required to do as per duty to the surety, and such act or omission by the creditor results in the surety losing the eventual remedy against the borrower, the surety ..... based on either section 139 of the contract act or section 141 of the contract act also does not help the petitioners. ..... section 141 of the contract act would lose its efficacy and the act would render itself totally nugatory if the meaning is to be attributed in the manner as suggested ..... section 141 of the contract act provides for discharge of a surety to the extent of the value of a security when the creditor loses such security, or without consent of the surety parts with ..... statutory interpretation that the statutory provision be read in its entirety rather than a word in isolation of others - if creditor loses has to be attributed a meaning as being stated by mr.anand, that is to say without there being any voluntary act on the part of the creditor, it cannot possibly be said to be in unison with the other part of the statute _ obviously it shall have to be read as a voluntary .....
Tag this Judgment!Court : Gujarat
Reported in : (2001)1GLR867
..... chapter viii of the contract act, 1872, (hereinafter referred to as 'the act') makes provision in relation to contract of indemnity and guarantee from sees. ..... 69 reads as follows :- 'that notwithstanding anything contained in section 133 of the contract act or in any other provision of law the guarantor(s) will not claim to be discharged to any extent because of the bank varying any of the terms and conditions whether contained in the general agreement and supplemental general agreement if ..... section 133 of the contract act reads as follows :- 'section 133 discharge of surety by variance in terms of contract : - any variance, made without the surety's consent, in terms of the contract between the principal debtor and the creditor, discharges the surely as to transaction subsequent to the variance.' 18. ..... statutory definition as given in section 129 of the contract act, and the illustration provided under the said section are also self-evident and supporting the plea of the plaintiff and rebutting the pleas advanced on behalf of defendant nos. ..... 69 with reference to section 133 of the contract act and as stated and seen hereinabove, section 133 of the act is prescribing the fact situations as to when discharge of surety takes place by variance in terms of contract. ..... section 129 of the contract act provides that a guarantee which extends to a series of transaction is called 'continuing guarantee'. ..... section 126 of the act provides as to what is the contract of guarantee. .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1970Guj106; (1970)GLR178
..... section 11 of the indian contract act, 1872, would not come in the way of transfer of property in favour of the minor. ..... under the circumstances, for the creation of the lease an agreement between two parties is necessary and for entering into that agreement there is a bar of section 11 of the indian contract act, according to which all agreements are contracts if they are made by free consent of the parties competent to contract for a lawful consideration and with lawful object and not expressed or declared to be void. ..... it is no doubt true that the above decisions refer to alterations of immoveable properties on behal of minors by a de facto guardians, but the same principle would equally apply where the de facto guardian enters into a contract on behalf of a minor by which a liability for the minor is created and the act of the de facto guardian is without any legal necessity.3. mr. ..... ' under the circumstances, where the minor is being charged with obligations by the other contracting party, the dictum laid down by the privy council in mohori bibee's case, (1903) 5 bom l.r. ..... act, no transfer can be made to a person legally disqualified to be transferee, section 7 of the said act provides that every person competent to contract and entitled to transferable property, or authorised to dispose of transferable property not his own, is competent to transfer such property either wholly or in part. .....
Tag this Judgment!Court : Gujarat
Reported in : 1992ACJ740; (1992)1GLR7; (1993)IIILLJ240Guj
..... in the result, in view of the specific provision of section 2(1)(e) of the act, provision of section 18 of the indian partnership act, 1932, and the provisions of section 43 of the indian contract act, 1872, together with the underlying purport and purpose of the provisions of order i, rule 9 of the code, this court has no any hesitation, whatsoever, in holding that an application for compensation by a workman, under section 3 of the act, is maintainable against one of the partners or managing person, of a partnership firm. ..... again, in view of the provisions of section 18 of the indian partnership act, 1932, a 'partner' is an 'agent' of the firm for the purpose of business of the firm, and even on the analogy of the provisions of section 43 of the indian contract act, 1872, a partner is liable and, therefore, application for compensation under section 3 of the act was maintainable. ..... 10 of 1983, decided on 17/19- 11-1990 17/19- 11-1990 (reported in 1991(1) glr 361).this court has observed in the aforesaid decisions that section 22(3) of the act provides that if the applicant is illiterate or for any other reason is unable to furnish the required information in writing, the application shall, if the applicant so desires, be prepared under the direction of the commissioner. ..... the deceased was working as a labourer with opponent alongwith other labourers in execution of the contract work of the opponent which was going on near village kuni, in thasara taluka, district kheda. .....
Tag this Judgment!Court : Gujarat
Reported in : [2007]135CompCas251(Guj)
..... and other group concerns qua the mortgage created by deposit of title deeds.6.1 he further submitted that agreement dated 08/09/1999 denoted that pfsl was a party to the agreement and in light of provisions of sections 62 & 63 of the indian contract act,1872 there was a novatio by which the liabilities towards pfsl, of appellant no ..... : firstly, that the official liquidator had not discharged the onus which lay on him for establishing his right to the property, and in this context he referred to provisions of sections 101 & 102 of the indian evidence act,1872; secondly, it was submitted that the property in question was never given to pfsl as an owner but was given by way of collateral security in relation to loan taken by appellant no. 2 and his group concerns as was evident ..... is heard but when on an examination of evidence as it stands, some inherent lacuna or defect becomes apparent; (5) such defect may be pointed out by a party or a party may move the tribunal to supply the defect or the tribunal itself may act suo motu in the matter; (6)if the additional evidence is allowed to be adduced contrary to the principles governing the reception of evidence, it would be a case of improper exercise of discretion and the additional evidence so brought on record will have to ..... . the last contention raised on behalf of the appellants based on provisions of section 59 of the t.p.act need not be gone into for the simple reason that, as stated hereinbefore, all the documents of 1997 and 1999 .....
Tag this Judgment!Court : Gujarat
Reported in : [2006]132CompCas579(Guj); [2005]57SCL184(Guj)
..... the indian contract act, 1872 provides for bailee's lien u/s.170; but bailee's right of lien is ..... charge/mortgage/lien on the basis of the orders of the court and if at all there was any such charge in light of the undertaking the same was void considering the provisions of section 125 of the act.12.7 by virtue of the earlier order dated 17/10/1997made by the apex court in review application filed by the official liquidator ongc was treated as having preferential right, but now in light of subsequent order dated 12/04/2004 made ..... the amount which was available for disbursement.9.4 a further alternative contention was that right of ongc was equivalent to the right conferred on the workmen by virtue of provisions of sections 529 & 529a of the act and it be held that ongc was entitled to paripassu distribution from the funds available with the official liquidator.9.5 strong reliance was placed on definition of the term 'secured creditor' by referring to stroud's judicial ..... was to create a definite security in favour of party for its protection and, hence, ongc was entitled to be treated as secured creditor in terms of sections 529 & 529a of the act.9.1 that by order of 6/4/1993 supreme court had laid down the mode and the manner in which ongc was entitled to recover amounts due to ongc from various industries including company in liquidation. ..... section 171 of contract act general lien of bankers ..... does it fall in the category of a general lien-holder described u/s 171 of the contract act. .....
Tag this Judgment!Court : Gujarat
Reported in : (2008)220CTR(Guj)38; [2009]309ITR174(Guj); [2009]176TAXMAN95(Guj)
..... the extent there was overcharging in each year be held to be bad in law and/or ultra vires the constitution.7.5 an incidental contention was also raised based on provisions of sections 59 - 61 of the indian contract act, 1872 to submit that the respondent authority had erred in law in not treating the amount of tax paid as tax and appropriating the same towards interest and thus charging interest on an amount which in fact had already ..... learned counsel pointed out that both the defaults under sections 234a and 234b of the act are in respect of separate civil obligations and therefore cannot be held to be either bad in law or unconstitutional.8.4 lastly, it was contended that in absence of any contract between the petitioner and the respondent authority, the provisions of indian contract act cannot be pressed into service by the petitioner and even otherwise as held by the apex ..... this specific provision under the act the general law under the contract act cannot be pressed into service ..... on the basis of any return required to be furnished, after taking into account the amount of tax, if any, already paid under any provision of the act the assessee shall be liable to pay such tax together with interest payable under any provision of the act for any delay in furnishing return, or any default or delay in payment of advance tax, before furnishing the return and the return shall be accompanied by proof ..... to be considered is based on provisions of sections 59 - 61 of the indian contract act. .....
Tag this Judgment!Court : Gujarat
Reported in : AIR2001Guj340; (2001)3GLR2632
..... provisions of section 139 of the contract act, 1872, sets out the circumstances in which the surety is discharged. ..... according to the said section, for discharge of the surety, two conditions must be satisfied :(i) the creditor must do an act which is inconsistent with the rights of the surety or omits to do an act which his duty to the surety requires him to do, and(ii) by virtue of the action or inaction of the creditor referred to hereinabove, the eventual remedy of the surety himself against the principal debtor is impaired.11. ..... upon perusal of the said section, it is very clear that if the creditor does any act which is inconsistent with the rights of the surety and if on account of such an action any remedy which is available to the surety is impaired, the surety is discharged. ..... the said section reads as under :'discharge of surety by creditor's act or omission impairing surety's eventual remedy :- if the creditor does any act which is inconsistent with the rights of the surety or omits to do any act which his duty to the surety requires him to do, and the eventual remedy of the surety himself against the principal debtor is thereby impaired, the surety is discharged.'10. ..... in other words, before the act of the creditor can operate as a discharge, it is necessary to look further and see whether by the act of the creditor, the eventual remedy of the surety against the principal debtor is impaired.12. .....
Tag this Judgment!Court : Gujarat
Reported in : (1990)1GLR673
..... provisions of section 73 of the contract act, 1872 provides that it should be to the knowledge of the contracting parties at the time when they entered into contract that breach of contract was likely to result into damages. ..... thus as far as the pre-condition of applicability of section 73 of contract act, 1872 is concerned, it is clear that the contract was between the defendant-board and plaintiff no. ..... we do not think that such can be the provisions of section 73 of the contract act, 1872 or for that matter any other provisions of law.31. ..... this is a statutory obligation cast upon him under the provisions of section 73 of the contract act, 1872. ..... now one important aspect may also be examined which is contained in explanation to section 73 of the contract act, 1872. ..... but when the question comes for determination of those damages, it has to be remembered that the burden lies on him to make wise attempt to reduce to the minimum the injury that may be caused to him by such a breach of contract, and, if the fails to do so, law debars him from claiming any part of damages which is due to neglect to take such steps on his part.we are in respectful agreement with the aforesaid observations made by the learned single ..... in case of breach of contract and resultant damages, if any, the damages are to be claimed as per the provisions of section 73 of the central act, 1872. ..... in this view of the matter, section 73 of the contract act will not be applicable as far as the loss suffered by plaintiff no .....
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