Judgment Search Results Home > Cases Phrase: limited liability partnership act 2008 section 80 power to remove difficulties Page 1 of about 438 results (0.144 seconds)

Kasi Alias Alagappa Chettiar and ors. Vs. Rm. A. Rm. V. Ramanathan Che ...

Court : Chennai

Reported in : (1949)1MLJ298

..... representative of the deceased partner is entitled to call upon the surviving partners to account for the deceased partner's share as it stood on his death and to have his claim satisfied out of the assets of the dissolved partnership after discharging all liabilities incurred before dissolution and such only of the liabilities incurred thereafter by the surviving partners, as are incidental to and necessary for the winding up of the business (sections 46 and 47 of the partnership act). ..... a series of authorities, both english and indian, had previously laid down the same rule as was subsequently enacted in section 42 of the english partnership act corresponding to section 37 of the indian act and under those decisions, the representatives of a deceased partner had the option to claim profits or interest see vyse ..... the accounts will have to be settled by court in the manner laid down by section 48 of the partnership act and the surplus assets, if any, will have to be divided between the partners according to their ..... claim for profits or interest by the retired partner on the ground that the portion of the assets of the dissolved firm used by the surviving partners in the subsequent conduct of the business was well within the limits of their own share of such assets and therefore the retiring partner's share could not be considered to have been used at all by them for the subsequent business. ..... it is not as if there were any difficulties in the way of winding up the affairs of the rm. .....

Kashiram Bhagshet Shete Vs. Bhaga Bhaushet Redij

Court : Mumbai

Reported in : AIR1945Bom511; (1945)47BOMLR470

..... hindu law, it remains to consider how far one would be safe in applying to the case of a joint hindu family trading firm the principle of the law of partnership enunciated in the old section 264 of the indian contract act, now re-enacted in section 45 of the indian partnership act, which lays down that notwithstanding the dissolution of a firm, the partners continue to be liable as such to third parties for any ..... sub-section (3) of section 21 of the indian limitation act would not in terms apply, and even though the i debt or liability had been incurred by or on behalf of the joint family by its manager i for the time being, the person who was the manager of the family at the date when the said debt or liability had been incurred by him on behalf of the joint family, would not have the power to acknowledge ..... being of a continuous nature is more than a statement of intention, and one who has made such representation cannot after getting rid of that state of things, take advantage of its removal to the prejudice of another who has acted on the representation.holding as i do that there was a duty cast on the members effecting the severance of joint status to give intimation to the outside creditors, who had dealt with ..... appears to be the really important step in the case, that is, the step from the ordinary hindu law as to a manager's power of alienation to the law of partnership ; and, that step taken, the decision of the appeal does not seem to present much difficulty.batchelor j. .....

Wind World (India) Limited and Others Vs. Enercon GmbH and Another

Court : Mumbai

..... . under section 3 of the limited liability partnerships act, 2008 a limited liability partnership is a body corporate incorporated under the provisions of the said act is a separate legal entity separate from that of its partners ..... 2 and 3 to prevent those limited liability partnerships and other partners from exercising their rights and powers under the provisions of limited liability partnerships act, 2008 which is not permissible ..... submitted by the learned senior counsel that the disclosures directed by the arbitral tribunal were related to five limited liability partnerships viz.vish wind infrastructure llp, nirvana wind power infrastructure llp, ray urja infrastructure llp, vaayu energy llp and vaayu infrastructure llp which were listed at ..... could be passed against those limited liability partnerships and other partners of whatsoever nature against them directly or indirectly which would impose any restriction against them from exercising their rights and powers available to them under the provisions of limited liability partnerships act, 2008 or as shareholders of the said private limited company ..... their interest in the vaayu companies representing assets wrongfully extracted from wwil holding that even if the remedy was purely personal, a court or tribunal would have power to grant interim relief, equivalent to a mareva or freezing injunction, to prevent a respondent from taking extraordinary steps, outside the ordinary course of business, to put his assets outside the reach of an .....

Commissioner of Income-tax, West Bengal Vs. Khetan and Co.

Court : Kolkata

Reported in : [1962]45ITR170(Cal)

..... section 30(3) of the partnership act clearly circumstances the maximum limit of a minors liability to one limited to his share and therefore no personal liability or no recurring liability of such a nature as provided in clause 6 of the partnership agreement in this case can be imposed on the minor. ..... appellate tribunal expressed the opinion that the deed of partnership expressly stated that the minor was admitted to the benefits of partnership and expressly mentioned that this case was subject to section 30 of the indian partnership act and, therefore, he read clause 5 of the partnership deed as subject to section 30 of the partnership act with the result that he was of the view that clause 5 should be read, so far as the minor was concerned, as a liability for the loss for his share only without any ..... the whole difficulty with the partnership deed is the express mentioning of the minor as a partner in clause 5 of the operative part of the partnership deed. ..... there the point arose whether the signature under a power of attorney was enough compliance with rules 2 and 6 and it was held it could not be because the rules enjoined that the partners must personally sign.if the purpose of registration of a firm is kept in view, then there is little scope for misunderstanding these conditions and requirements of section 26a of the income-tax act. .....

M/s. Amritlakshmi Machine Works and Another Vs. The Commissioner of Cu ...

Court : Mumbai

..... we have not in any manner dealt with partnership firm registered under the limited liability partnership act, 2008 and the liability of its partners under section 112(a) of the act. 42. ..... concerned in misdeclaration of value or in any fraudulent evasion or attempt at evasion of any duty chargeable thereon or of any prohibition for the time being imposed under this act or any other law for the time being in force with respect to such goods; or (b) acquires possession of or is in any way concerned in carrying, removing, depositing, harbouring, keeping concealing, selling or purchasing or in any other manner dealing with any goods which he knows or has reason to believe are liable to confiscation ..... to hold t hat because of this difficulty, the failure to include the imported goods in the manifest would not attract the mischief of section 30 read with sections 111 and 112 may be to resign oneself to clandestine importation of huge quantity of prohibited goods in india which the government of india wants to prohibit or regulate for economic reasons. ..... by the referring order of the division bench, the following questions of law are referred for the opinion of the larger bench: (i) whether, under the customs act,1962 and particularly in exercise of the powers conferred by section 112(a) thereof, simultaneous penalties on both the partner and partnership firm can be imposed ? .....

Lalit Kumar Jain Vs. Union Of India

Court : Supreme Court of India

..... . definitions in this code, unless the context otherwise requires, - *** (7) "corporate person" means a company as defined in clause (20) of section 2 of the companies act, 2013 (18 of 2013), a limited liability partnership, as defined in clause (n) of sub-section (1) of section 2 of the limited liability partnership act, 2008 (6 of 2009), or any other person incorporated with limited liability under any law for the time being in force but shall not include any financial service provider; (8) "corporate debtor" means a corporate person who owes a debt to any person; *** (10) "creditor" means ..... learned senior counsel, who argued next, contended fur- ther that in several judgments, this court has ruled that conditional legislation is one where a legislative exercise is complete in itself, and the only power and/or function to be delegated to the authority (in this case the central government), is to apply the law to a specific area or to determine the time and manner of carrying into effect such ..... . in burah, the question arose in the context of a law made by the indian legislature removing the district of garo hills from the jurisdiction of the civil and criminal courts and the law applied to them, and to vest the administration of civil and criminal justice within the same ..... limit of rs 500 is removed ..... to ensure legal clarity, the committee recommends that provisions in all existing law that deals with insolvency of registered entities be removed and replaced by this code. .....

J. Seetha Rama Sastry Vs. State of Karnataka and Another

Court : Karnataka

Reported in : ILR1991KAR3053; [1993]199ITR588(KAR); [1993]199ITR588(Karn)

..... registration is required only for certain limited purposes and non-registration affects the procedural rights of the partners, as per section 69 of the partnership act; even here, the firm or the partners may have the effect of non-registration removed, by getting it registered at the time of filling ..... government pleader is right in his contention that every partner is deemed to be carrying on the firm's business; even if a partner is a sleeping partner, the business carried on by others is equally on behalf of the sleeping partner (vide section 4 of the partnership act). ..... but, does this mean that the citizens of this country should always surrender their valuable fundamental right to equality in favour of the state's power to tax should the court hesitate to strike down a fiscal law solely on the ground that the revenue of the state would suffer should the role of the court as the guardian of the fundamental rights ..... the matter of formation of a partnership, its constitution, the rights and liabilities of the partners and their relationship to the firm and in the mode of carrying on of the trade, non-registration of the firm under the partnership act has no relevancy at all.19 ..... no rational basis has been made out for the distinction between the two classes of people referred to above, who really fall in the same category and with regard to whom there was no difficulty in having a uniform provision of law. ..... the administrator's difficulty in locating partners of unregistered firms .....

Commissioners for Her Majesty's Revenue and Customs (Appellant) Vs. To ...

Court : UK Supreme Court

..... section 118za(1) (as substituted by fa 2001) provides: "for the purposes of the tax acts, where a limited liability partnership carries on a trade, profession or other business with a view to profit (a) all the activities of the partnership are treated as carried on in partnership by its members (and not by the partnership as such), (b) anything done by, to or in relation to the partnership for the purposes of, or in connection with, any of its activities is treated as done by, to or in relation to the members as partners, and (c) the property of the partnership is treated as held by the members as partnership property. ..... a limited liability partnership established under the limited liability partnership act 2000 has a legal personality separate from those of its members. ..... both peter gibson lj (with whom rix lj agreed) and carnwath lj (at paras 44 and 69 to 73 respectively) courteously expressed difficulty with the distinction between "legal" and "commercial" concepts drawn by lord hoffmann in macniven in relation to the construction of tax legislation. ..... but the fact that llp2 acquired the right to the full economic benefit of the agreement is a powerful, and, to my mind, a determinative feature of this appeal. ..... he disallowed the whole of llp1's claim on the separate ground that it had not been trading during the 2003-4 tax year: [2008] stc 3366, 3369-3411. ..... on appeal ([2008] ewhc 2387 (ch), [2008] stc 3366, 3411) henderson j allowed the llps' appeals on the procedural issue. .....

Swiss Ribbons Pvt. Ltd. Vs. Union of India

Court : Supreme Court of India

..... for amendments in the indian partnership act, 1932, the central excise act, 1944, customs act, 1962, the income tax act, 1961, the recovery of debts due to banks and financial institutions act, 1993, the finance act, 1994, the securitisation and reconstruction of financial assets and enforcement of security interest act, 2002, the sick industrial companies (special provisions) repeal act, 2003, the payment and settlement systems act, 2007, the limited liability partnership act, 2008, and the companies act, 2013.5. the code ..... . (1) subject to the directions of the liquidator shall have the following powers and duties, namely: the adjudicating authority, xxx xxx xxx to sell to section 52, the (f) subject immovable and movable property and actionable claims of the corporate debtor in liquidation by public auction or private contract, with power to transfer such property to any person or body corporate, or to sell the same in parcels in such manner as may be specified: provided that the liquidator shall not sell the ..... they also argued that section 29a is not aimed at only persons who have committed acts of malfeasance, but also persons who are otherwise 13 unfit to be put in the saddle of the management of the corporate debtor, such as undischarged insolvents and persons who have been removed as directors under section 164 of the companies act, 2013 (for not filing financial statements or annual returns for any continuous period of 3 financial years, for example). .....

Gunjan Sinha JaIn and Others Vs. Registrar General, High Court of Delh ...

Court : Delhi

..... this question tests the knowledge of a candidate in respect of the limited liability partnership act, 2008 which, admittedly, was not part of the syllabus ..... arbitration between two parties before an arbitrator appointed by the chief justice of the high court (in exercise of powers under section 11 of the arbitration and conciliation act, 1996), the rival parties have filed claims against each other ..... there cannot be two correct answers for the same question in the scheme of the omr sheet based test, the question would have to be removed from consideration so that neither those candidates who chose option (1) nor those who chose option (4) are negatively marked ..... . from the above table, with respect to the questions discussed above, it is evident that 12 questions would have to be removed/ deleted from the purview of the said djs exam, 7 questions would require corrections in the answer key as indicated above and 7 questions (alongwith the 174 other questions not disputed in the course of ..... a candidate may have left the 12 questions, which are now to be removed, and, therefore, he would have scored a zero for those questions ..... had not given his consent to the employee to remove the money from the drawer at 12 noon ..... . because we have directed that 12 questions be removed from the purview of consideration for the purposes of re-evaluation, the minimum qualifying marks ..... the third category is concerned, questions falling in this category would have to be removed from the purview of the examination .....