Court : Supreme Court of India
..... principal agreement, establishment of a plant, management of the company, appointment of directors, implementation of decisions of the board of directors, appointment or re-appointment of the managing director, dividend policy, loans, financial information, trademarks, transfer of shares, sale-purchase of chlorination equipment, assets, government approvals, performance of chloro controls, trademark, service of notices, modifications, severability and arbitration, settlement of disputes by arbitration ..... as is clear from the above terms and conditions of this agreement, it was treated as a principal agreement executed between the parties and other agreements, like the financial & technical know- how license agreement, trademark registered user license agreement, international distributor agreement, managing directors agreement and export sales agreements were not the only anticipated agreements to ..... of clause 4.5, the kocha group and their company chloro controls were bound not to engage themselves, directly or indirectly, or even have financial interest in the manufacture, sale or distribution of chlorination equipment which were similar to those manufactured by the joint venture company during the term ..... as to whether the claim is a dead one or in the sense whether the parties have already concluded the transaction and have recorded satisfaction of their mutual rights and obligations or whether the parties concerned have recorded their satisfaction regarding the financial claims. .....
Tag this Judgment!Court : House of Lords
..... someone who was not a customer of a bank made a formal approach to the bank with a definite request that the bank would give him deliberate advice as to certain financial matters of a nature with which the bank ordinarily dealt the bank would be under no obligation to accede to the request: if however they undertook, though gratuitously, to give deliberate advice (i exclude what i might call casual and perfunctory conversations) they would be ..... respondent bankers had been negligent in the advice which they gave in the form of bankers references, the appellants being a company which acted in reliance on the references and suffered financial loss accordingly but that he must enter judgment for the respondents since there was no duty imposed by law to exercise care in giving these references, the duty being only to act honestly in ..... and there was no personal direct invitation to the plaintiff to come and do the work on that ship, yet it was held that the dock owner had undertaken an obligation towards the plaintiff, who was one of the persons likely to come and do the work to the vessel, and that he was liable to him and was under ..... november, 1958, in a letter to the piccadilly branch of the national provincial hedleys wrote: i have been requested by the directors to again ask you to check the financial structure and status of easipower limited : hedleys made some particular references and concluded their letter with the words: i would be appreciative if you could make your check as .....
Tag this Judgment!Court : Kerala
..... usually takes into consideration the number of defaults, the period of delay, the frequency of default and the amounts involved; default on the part of the employer based on plea of power-cut, financial problems relating to other indebtedness or the delay in realization of amounts paid by the cheques or drafts, cannot be justifiable grounds for the employer to escape liability; there is no period ..... months15%(iv) 6 months and above25%provided that the corporation, in relation to a factory or establishment which is declared as sick industrial company and in respect of which a rehabilitation scheme has been sanctioned by the board for industrial and financial reconstruction, may:- (a) in case of a change of management including transfer of undertaking(s) to workers co-operative(s) or in case of merger of amalgamation of sick industrial company with a healthy company, completely waive the damages ..... belonging to the petitioner-company, passed orders under section 14b of the act, imposing damages calculated as per the sliding table clause 32a of the scheme, holding that financial difficulty is not a factor which can be taken into account for deciding the liability for and quantum of damages under section 14b, since damages are liable to be imposed ..... was a loss as claimed it does not justify the delay in deposit of provident fund money which is an unqualified statutory obligation and cannot be allowed to be linked with the financial position of the establishment, over different points of time .....
Tag this Judgment!Court : Mumbai
..... put option during the put option period, and subject to the terms of this put option deed (in particular clause 6.1), the founding shareholder shall have the right but not the obligation, to sell the put shares (on the basis and with the warranties set out in clause 7 of this put option deed and paragraphs a, b and c in annexure c of this put option deed) and to require the strategic ..... case, the learned company judge had ordered the sale of the properties of the company even before the company was actually wound up on the ground that the company was heavily indebted to various financial institutions and that the sale of the machinery even before the final order of winding up would benefit all the parties concerned, including the company by reducing its liability to the maximum extent. ..... subject to clauses 3.6.3 to 3.6.5 below, the strategic investor shall have the right to select and appoint the following senior managerial personnel of the company; (a) the chief financial officer; (b) the chief executive officer; (c) the chief operating officer; (d) the chief technical officer; and (e) the chief marketing officer, (collectively, the "key employees ..... was, therefore, according to him, responsible for the company's failure to meet the roll-out obligations leading to the financial loss sustained by the company. ..... that the petitioner contrary to its obligation under clause 4.1.5 of the shareholder agreement had failed to pay the call money which lead to the company facing a financial crunch. .....
Tag this Judgment!Court : Singapore Supreme Court
..... could be expressed in the following proposition: (a) if a has entered into a contract with b to do work for b, in return for payment by b; and (b) at some stage before a has completely performed his obligations under the contract, b has reason to think or doubt whether a will or will not be able to complete his side of the bargain; and (c) b thereupon promises a an additional payment in return for a's promise to ..... leaving the bank and keep them motivated to do the best job possible despite the fact that they had limited career prospects left at the bank was to provide them with a financial incentive.21 he therefore formulated a retention plan and cleared this with the compensation committees of dresdner bank and allianz as well as the management board.22 he also informed key members of ..... four witnesses: (a) michael paul reuther, a member of the commerzbank's board who took over as ceo of dkib from 12 january 2009; (b) joerg hessenmueller, formerly the global head of financial control of dkib and the head of the finance department of the investment banking division of the commerzbank group from 12 january 2009; (c) helmut merkel, general counsel for dresdner bank until may ..... mr hessenmueller gave evidence that dkib and dresdner bank respectively reported operating losses of 6.275 billion and 5.598 billion.102 dresdner bank's financial report for 2008 stated that "[i]n view of the acute danger to the continued existence of dresdner bank as a going concern and the fact .....
Tag this Judgment!Court : Supreme Court of India
..... books evidence act, 1891, the credit information companies (regulation) act, 2005, the public financial institutions (obligation as to fidelity and secrecy) act, 1983, the payment and settlement systems act, 2007, the income 64 tax act, 1961, the aadhaar (targeted delivery of financial and other subsidies, benefits and services) act, 2016, the census act, 1948, the ..... it says that except as provided by section 3403(c) or (d), 3413 or 3414, no government authority may have access to or obtain copies of, or the information contained in the financial records of any customer from a financial institution unless the financial records are reasonably described and that (1) such customer has authorised such disclosure in accordance with section 3404; (2) such records are disclosed in response (a) administrative subpoenas or summons to meet ..... . such a right cannot be exercised where the information/ data is necessary, for exercising the right of freedom of expression and information, for compliance with legal obligations, for the 28 supra 36 performance of a task carried out in public interest, on the grounds of public interest in the area of public health, for archiving ..... in this article shall affect the operation of any existing law or prevent the state from making any law- (a) regulating or restricting any economic, financial, political or other secular activity which may be associated with religious practice; (b) providing for social welfare and reform or the throwing open of hindu .....
Tag this Judgment!Court : Supreme Court of India
..... that the entire expenses necessary for carrying on the business of printing and publishing the textbooks for recognised schools in punjab were estimated and shown in the annual financial statement and that the demands for grants, which were made under different heads, were sanctioned by the state legislature and due appropriation acts were passed. ..... was no necessity of enacting a law, as the policy/rules under which the land has been obtained, the hospitals were obligated to render free treatment as the land was allotted to them for earning no profit and held in trust for public good. ..... state cannot avoid its constitutional 59 obligation in that regard on account of financial constraints and was directed to allocate ..... object of the statutory rules also, medical profession 54 owes a duty to serve the poor and have nots, irrespective of financial status, they have to treat everybody equally with respect to social standing and economic disparity, that cannot be achieved without ..... state spends and invests a huge amount of public money and it is the corresponding obligation to serve the needy and the treatment cannot be refused on the ground of financial inability of the patient to bear it. ..... in our considered opinion, it is not a restriction on the right to carry on medical profession, the medical profession has obligated itself by such conditions by very nature of its professional activity and when the state land is being held which is for the public good with no profit motive, such .....
Tag this Judgment!Court : Delhi
..... currency of debt, as the case may be, outstanding as on the date of termination: a) the principal amount of debt provided by lenders or the concessionaire for meeting the concessionaire's capital cost and subordinated to the financial assistance provided by the senior lenders; and b) all accrued interest on the debt referred to in sub-clause (a) above but restricted to the lesser of actual interest rate and a rate equal to 5% (five ..... and (iii) any pre-payment charges in relation to accelerated repayment of debt except where such charges have arisen due to authority default; and c) any subordinated debt which is included in the financial package and disbursed by lenders for financing the total project cost; fao(os)(comm) no.58/2018 page 82 of 97 subordinated debt' means the aggregate of the following sums expressed in indian rupees or in ..... damepl in commencing operations from 22nd january, 2013, notwithstanding the earlier termination vide notice dated 8th october, 2012, would indicate their intent and desire to find an amicable solution and resolve financial unviability as stated in communications dated 20th april, 2012 and 24th september, 2012 expressing damepl s desire to re-negotiating the terms, but it would be difficult to hold that the decision of ..... of damepl was nothing else but an attempt on the part of damepl to absolve itself from the obligation under the ca as a result of the financial distress in which damepl had found itself after aggressively bidding for the project. .....
Tag this Judgment!Court : Delhi
..... the adjudicating authority is also given to such third parties as may be holding the property in question "on behalf of any other person" (whether jointly or otherwise), the adjudicating authority also being obliged by the proviso to sub-section (2) of section 8 to give opportunity of being heard and prove that the property is "not involved in money- laundering" even to such third parties as ..... to prevent money-laundering and to provide for confiscation of property derived from, or involved in, money- laundering and for matters connected therewith or incident thereto , pursuant to the obligation in terms, inter alia, of political declaration and global programme of action, annexed to the resolution s-1as adopted by the general assembly of the united nations on 23.02.1990 and the political ..... rights; (ii) conferment of powers upon the reserve bank of india to regulate asset reconstruction companies in a changing business environment; (iii) exemption from stamp duty on assignment of loans by banks and financial institutions in favour of asset reconstruction non- institutional investors to invest in security receipts; (v) debenture trustees as secured creditors; (vi) specific timeline for taking possession of secured assets; and (vii) priority to secured ..... similarly, the law envisages certain obligations (4th chapter) on the part of banking companies, financial institutions and intermediaries to render assistance to the enforcement agency not only by maintaining records but also reporting, .....
Tag this Judgment!Court : Delhi
..... to sell the property to anyone without first making an offer to the grantee; iii) in the event of a decision of the grantor to sell the property, the obligation is enforceable by legal action by the grantee or his assignee; iv) in such an action the grantee could obtain an injunction to restrain sale of the property to another person, until the grantor has first made an ..... in the said case, the supreme court has inter alia held as under:-" clause 31(b) of the agreement merely provides for an obligation of respondent no.1 to give an opportunity to the appellant to match the offer, if any, received by respondent no.1 from the third ..... petitioner/plaintiff was not ready nor had the capacity to perform his part of the contract as he had no financial capacity to pay the consideration in cash as contracted and intended to bide for the time which disentitles him as time is of the essence of ..... petitioner's financial means to conclude the transaction and whether it is ready and willing to perform its obligations in terms of section ..... please note that we making such a request does not dilute the obligation of the prime members (private participant(s)) under the shareholders agreement.4) we stand committed to comply with all applicable provisions of omda, shareholders agreement and article of association of mial ..... upon to demonstrate to the satisfaction of the court and the respondent no.1 its financial means and capability including readily available funds to purchase the shares as of today. .....
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