Court : Kerala
Reported in : AIR1961Ker126
..... sub-section (1) of section 39 (omitting the proviso thereto which is not material) reads as follows :'the holder of a policy of life insurance on his own life, may when effecting the policy or at any time before the policy matures for payment, nominate the person or persons to whom the money secured by the policy shall be paid in the event of his death;' and ..... sub-section (6) of that section :'where the nominee, or if there are more nominees than one, a nominee or nominees survive the person whose life is insured, the amount secured by the policy shall be payable to such survivor or ..... 'the question for determination is whether these provisions give the nominee a mere right to collect the amount or whether, it confers on him a right to appropriate it as well. ..... we are not concerned with that act and any discussion of that act or sub-section (7) of section 39 of the insurance act, 1938, in which reference to that act is made is unnecessary for the decision of the appeal before us.9. ..... gangadhar nathmall, air 1956 cal 275, the nomination was in the following terms :'i nominate my wife and my son-in-law, the survivor or survivors, as the persons to receive the moneys under the above policy in the event of my prior death. ..... air 1956 cal 275 was followed in mohanavelu mudaliar v. .....
Tag this Judgment!Court : Kerala
Reported in : AIR1961Ker268; [1961]31CompCas154(Ker)
..... reserve 'bank, and the best machinery, its subjective satisfaction based on the intimate knowledge with which the law provides it.and considered in the light of the several provisions of the banking companies act and the reserve bank act to which i have drawn attention, and to their general scheme, i should think the words, 'the continuance of the banking company is prejudicial to the interests ..... giving advice, issuing directions, conveying admonitions and holding out threats (such as prohibition of fresh deposits, exclusion from the schedule and refusal of a licence under the relevant provisions of the reserve bank act and the banking companies act) with a view to reformation, but, not so much as a result of fresh transgressions (although, it is 'said, that there were some) as of the consequences of the ..... life insurance ..... some of its cerditors have applied under section 391 of the companies act, 1956 for considering schemes of reconstruction and the company has also applied for ..... of the depositors not being a matter of such emergency, sub-section (4) of section 35 provides for a hearing and provides also in the shape of the proviso thereto for a locus paenitentiae.if, after this, the central government is satisfied that the company should not be allowed to continue and that is more or less the stage contemplated by the impugned provision--it can make a prohibition under clause (a) of ..... emergency contemplated by the section that the reserve bank can act, and such an emergency cannot .....
Tag this Judgment!Court : Kerala
Reported in : AIR1962Ker267
..... new sub-section (4) to the original sub-section (4) of section 46.section 48 provides for penalties.sub-section (2) of section 33 of the amendment act provided:'for sub-section (4) the following subsection shall be substituted namely, (4) if any other provision of this act is contravened or it any default is made in complying with any requirement of this act or any order, rule or direction made or condition imposed thereunder, every director, liquidator and other officer of the company and any other ..... , regulation and winding up of trading corporations including banking, insurance and financial corporations but not including co-operative societies.81. ..... to the ordinance is to the effect that an emergency has arisen which renders it necessary to make provision to inspect the affairs of banking companies in certain ..... in their book on negotiable instruments act, 1956) 10th edition, the learned authors bhashyam and adiga in the preface state:'great attention is being paid to the pro-blems of the currency of the country and measures calculated to popularise banking and ..... habit, cheque has been replacing the currency to an increasing extent as a medium of exchange and that banks as repositories of the cash resources of the public, play a vital role in the economic and financial life of the country.109. ..... :'banks which serve as (sic) of the cash resources of the puhlic and as purveyor of finance for trade and industry, play a vital role in the economic and financial life of a country. .....
Tag this Judgment!Court : Kerala
Reported in : I(1992)ACC268; 1992ACJ816; AIR1992Ker67
..... gupta, 1982 acc cj 40; (b) gujarat high court in life insurance corporation of india v. ..... we will now refer to three judgments -- two of punjab & haryana high court and one of andhra pradesh high court, and endeavour to understand the principles emerging from them.sarla gupta's case 1982 acc cj 40 (punj & har) has an important lesson relevant to this case. ..... we will first consider the case which holds that the amounts like pension, insurance money and gratuity received upon the death of the deceased are deductible in determining the quantum of ..... 1969 acc cj 363 concluded that it is unjust, inequitable and unreasonable that the money which the deceased prudently invested insurance premia, provident fund or pension, should not enure to the benefit of the tortfeasor. ..... balancing the loss resulting from the death of mohammed basheer against the gains of profits from the firm, the tribunal concluded that no compensation was payable on account of the shortened life expectancy of the deceased.the fact that the death was caused by rash and negligent driving of the respondent no. ..... the provisions of the motor vehicles act in regard to compensation are wider than those of the fatal accidents act. ..... we will deal with the principles emerging from gobald motor services ltd. v. r.m.k ..... two principles emerge from the three decisions referred to in the last paragraph:--(i) the income from a business establishment for which the deceased was solely responsible, is lost to the estate after his death .....
Tag this Judgment!Court : Kerala
Reported in : AIR1963Ker202
..... tax is only a tax on sales for purposes of revenue.but i am in agreement with the contention of the learned advocate general that the levy in these cases, under the provisions of that act cannot be considered to hamper trade, commerce or intercourse; nor can it be stated that the levy is one restricting or impeding the trade, or the free movement of trade. ..... the validity of the assam taxation (on goods carried by roads or inland waterways) act, assam act 13 of 1954, with special reference to the question as to whether the said tax law has the effect of placing restrictions on movement of goods and traffic in the state and as to whether it violates the freedom of trade guaranteed under article 301 of the constitution.the following propositions emerge from the decision of the supreme court in this case:(1) the main object ..... the learned judge refers to the decision of the supremo court in (s) air 1957 sc 521 adverted to by me earlier and is of the view that the supreme court has held that merely by reason of the life of the original act being extended by amending act, passed after the coming into force of the constitution. ..... surianarayana lyer excepting to stale that the actual decision in (s) air 1956 bom 1, which is one of the decisions referred, has not been accepted on appeal by the supreme court in the decision reported in (s) air 1957 ..... the kerala state was formed with effect from 1-11-1956 and at that time the travancore-cochin act 11 of 1125 as amended, was applicable to .....
Tag this Judgment!Court : Kerala
Reported in : [1972]84ITR30(Ker)
..... ' paragraph d in the case of every company, other than the life insurance corporation of india established under the life insurance corporation act, 1956 (31 of 1956),-- rates of super-tax on the whole of the total income 55% provided that--... ..... rate or rates laid down for that assessment year by any central act: provided that, where by virtue of any provision of this act super-tax is to be charged in respect of the income of a period other than the previous year, super-tax shall be charged accordingly. ..... section 95(1) of the income-tax act is the charging provision for the levy of super-tax, and it reads :'in addition to the income-tax charged for any assessment year, and save as otherwise provided in this act, there shall be charged for that assessment year in respect of the total income of the previous year or previous years, as the case may be, of every person, not being a registered firm, an additional duty of income-tax (in this act referred to as super-tax), at the ..... section 4 of the income-tax act is the charging provision for the levy of income-tax and directs that income-tax shall be charged for any assessment year on the total income of the previous year if any central act enacts that income-tax shall be charged for any assessment year at any rate or rates. .....
Tag this Judgment!Court : Kerala
Reported in : AIR2006Ker46; 2006(1)KLT294
..... , municipal corporation, hyderabad : air1987ap171 , considered whether the land owned by the life insurance corporation and the income tax department, hyderabad, in a recreational zone within the city limits of hyderabad, can, legally, be used for residential purposes, contrary to the notified developmental plan. ..... the attempt of the life insurance corporation to build houses in this area is contrary to law and also contrary article 21 of the constitution.14. ..... country.article 51-a(g) exhorts the citizen to protect and improve the natural environment including forests, lakes, rivers and wild life and to have compassion for living creatures.part iv-a on fundamental duties has been added by the constitution (42nd amendment) act, 1976 in accordance with the recommendations of the swaran singh committee bringing the constitution in line with article 29(1) of the universal declaration of human rights and the constitutions of china, japan and u.s.s.r.the ..... it is no doubt true that educational facility also serves an important purpose of society but the provisions of the rules of 1975 make a marked distinction in relation to open space/spaces and the sites left for educational facility. ..... the learned counsel for the petitioners pointed out that ext.p5 is not authorised by any of the provisions of the madras town planning act or the kerala development authorities rules. ..... in the environmental field, government too often emerges as the advocate of exploitation. .....
Tag this Judgment!Court : Kerala
Reported in : AIR1981Ker1
..... general accident, fire and life insurance corporation (1948) 2 all er 995 at 998:'the first thing one has to do in construing words in a section of an act of parliament, is not to take those words in vacuo, so to speak, and attribute to them what is sometimes called their natural and ..... that 'private forest' means :--'(1) in relation to the malabar district referred to in sub-section (2) of section 5 of the states reorganisation act, 1956 (central act 37 of 1956) - (i) any land to which the madras preservation of private forests act, 1949 (madras act xxvii of 1949), applied immediately before the appointed day excluding - (a) lands which are gardens or nilams as defined in the kerala land reforms act, 1963 (1 of 1964); (b) lands which are used principally for the cultivation of tea, coffee, cocoa, rubber, cardamom ..... notwithstanding anything contained in any other law for the time being in force, or in any contract or other document, but subject to the provisions of sub-sections (2) and (3), with effect on and from the appointed day, the ownership and possession of all private forests in the state of kerala shall by virtue of this act, stand transferred to and vested in the government free from all encumbrances, and the right, title and interest of the owner or any ..... by the forest tribunal that forest land with bamboo clusters and tree growth, such land used as grazing land and also rocky areas are not entitled to be excluded on the basis of the provisions of act 26 of 1971. .....
Tag this Judgment!Court : Kerala
Reported in : 2008(1)KLJ109; AIR2007NOC1100(SB)
..... that the heirs of tenants become entitled:to inherit the status and position of the statutory tenant on his death.the supreme court further held that:the heirs of the deceased tenant in the absence of any provision in the rent act; to the contrary will step into the position of the deceased tenant and all the rights and obligations of the deceased tenant including the protection afforded to the deceased tenant under the ..... therefore, on any look, - whether based on the definition of the term 'tenant', based on inheritance, based on legislative intention gatherable even from the preceding statute, based on comparison of the term used in similar provisions conferring benefits to tenants, based on creation of special interest in favour of a class of tenants with continued occupation from a particular date, based on the trend of the statute imposing different types of restrictions on the right of eviction available to the ..... make exceptions to ageneral requirement....if the function of this court is to be essentially no different from that of a legislature, if the considerations governing constitutional construction are to be substantially those that underline legislation, then indeed judges should not have life tenure, and they should be made directly responsible to the electorate. ..... 1950 and also the madras (lease and rent control) act as in force in the malabar district referred to in section 4 of the states re-organisation act, 1956. ..... insurance co. v. .....
Tag this Judgment!Court : Kerala
Reported in : AIR1989Ker198
..... referred to above shyamaraju's case, air 1987 sc 2323 considered the correctness of both the full bench decisions and held that in so far as the karnataka act is concerned, the relevant provisions warranted invoking of the ratio in chhagan lal's case, air 1977 sc 1555 and in bhatija's case (special leave petn. no. ..... there was thereby an implied prohibition or exclusion of a second revision under section 115 of the code of civil procedure to the high court when a revision has been provided under section 20 of the act in question, when section 18(5) of the act specifically states that 'shall not be liable to be called in question in any court of law' except in the manner provided under section 20, it cannot be said that the high court which is a court of ..... in that case section 149,madhya pradesh municipal corporation act,1956 which provided that the decision of thedistrict court in an appeal filed against anorder of the municipal ..... emerges from the above decisions regarding the effect of a provision making an order final under a statute are the following: (1) prima facie an order which is made final implies that no further appeal or revision will lie; (2) the expression 'final' may have only a restrictive meaning in the context of the various provisions of the enactment in which it is used; and (3) in deciding as to whether the word 'final' has to be given its full effect or restrictive meaning, the provisions ..... the duration of productive life being smaller, in their case, the multiple .....
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