Judgment Search Results Home > Cases Phrase: office or place of profit Page 1 of about 237,874 results (0.117 seconds)

Firestone Tyre and Rubber Co. Vs. Synthetics and Chemicals Ltd. and or ...

Court : Mumbai

Reported in : [1971]41CompCas377(Bom); [1971]41ITR377(Bom)

..... to be attained by the enactment of section 314, the better construction appears to me to be the one advanced by the plaintiffs, to accept the contention of the contesting defendants would be to hold that where once an appointment to an office or place of profit is made with the consent of the company by a special resolution for the initial maximum period of five years, such appointment could be renewed indefinitely by repeated subsequent appointments for the same maximum period by merely a ..... under the company; or (ii) under any subsidiary of the company, unless the remuneration received from such subsidiary in respect of such office or place of profit is paid over to the company or its holding company : provided that it shall be sufficient if the special resolution according the consent of the company is passed at the general meeting of the company held for the ..... director no firm in which such a director or relative is a partner, no private company of which such a director is a director or member, and no director, managing agent, secretaries and treasurers, or manager of such a private company shall hold any office or place of profit carrying a total monthly remuneration of five hundred rupees or more, except that of managing director, managing agent, secretaries and treasurers, manager, legal or technical adviser, banker of trustee for the holders of debentures of the company - (i) .....

Ramchandiram Mirchandani Vs. India United Mills Ltd. and ors.

Court : Mumbai

Reported in : AIR1962Bom92; (1961)63BOMLR678; ILR1962Bom186

..... .except by a special resolution passed by the company:-(a) any person who is an officer or employee of, or who holds any office or place of profit under, the company or any subsidiary thereof: provided that nothing in this clause shall apply to the director of such company or subsidiary, or to the holder of any office or place of profit under such company or subsidiary which may be held by a director of the company by virtue of section 314: (b) where any office or place of profit which would disqualify a person under clause (a) read with the proviso thereto, is held ..... by any firm, any partner in, or employee of, the firm; (c) x x x x: (d) where any such office or place of profit is held by a body corporate, any officer or employee of such body corporate; (e) x x x x; (f) any associate .....

Vazir Ali Vs. M. Shankariah and ors.

Court : Andhra Pradesh

Reported in : AIR1964AP91; (1962)IILLJ636AP

..... on a consideration of the material provisions of the act, we think that the view taken by the learned district judge is not right, and as we hold that the petitioner was not holding any office or place of profit under the government at the material time, he was not disqualified for being elected as a member of the town cornmitte.13. ..... we are, therefore, unable to subscribe to the view taken by the learned district judge that a pensioner holds an office or place of profit under the government and thereby incurs the disqualification provided under section 27(1)(c) of the act.11. ..... subject to the provisions of this act a person shall be disqualified for being elected as a member of a committee if such a person at thedate of election ***** (c) holds any office or place of profit under the government or under the municipality or under any local authority.' 5. ..... the question, therefore, narrows down to this :whether a recipient of a pension from government can be said to hold, an office or place of profit, under the government, which section 27(i)(c) of the act contemplates? 6. ..... they insisted that these circumstances caused his directorship to be determined inasmuch as one of the articles of association prescribed that the office of a director should be vacated if he held 'any other office or place of profit under the company. ..... the words 'place of profit' coupled with the word ''office' must have been intended by the legislature to have a definite meaning. .....

Jagran Prakashan Limited and Another Vs. Union of India

Court : Delhi

..... (3) of the companies act, 1956 as under:- (3) any office or place shall be deemed to be an office or place of profit under the company within the meaning of this section- (a) in case the office or place is held by a director, if the director holding it obtains from the company anything by way of remuneration over and above the remuneration to which he is entitled as such director whether as salary, fees, commission, perquisites, the right to occupy free of rent any premises as a place of residence, or otherwise; (b) in case the office or place is held by an individual other than a director ..... thus the position of the executive president (commercial) in the petitioner no.1 company carrying remuneration beyond the prescribed limits would be an office or place of profit in the petitioner no.1 company and the petitioner no.2 being a relative of a director of the petitioner no.1 company cannot hold the said position without approval of central government. 21. ..... sudarsanam supra clearly held that a director cannot be said to hold any office or place of profit if he should receive the remuneration to which he is entitled as such director; on the other hand he will be said to hold an office or place of profit only when, besides the remuneration to which he is entitled as such director, he obtains from the company a remuneration such as salary, fees, commission, perquisites. 32. .....

The State Vs. the Akal Transport Company Private Ltd.

Court : Punjab and Haryana

Reported in : AIR1959P& H22; 1959CriLJ79

..... director, no firm in which such a director or relative is a partner, no private company of which such a director is a director or member, and no director, managing agent, secretaries and treasurers, or manager of such a private company shall hold any office or place of profit, except that of managing director, managing agent, secretaries and treasurers, manager, legal or technical adviser, banker, or trustee for the holders of debentures of the companv,-- (a) under the company; or (b) under any subsidiary of the company, unless ..... office or place of profit under the company or a subsidiary thereof is held in contravention of the provisions of sub-section (1), the director concerned shall be deemed to have vacated his office as director with effect from the first day on which the contravention occurs; and shall also be liable to refund to the company any remuneration received, or the monetary equivalent of any perquisites or advantage enjoyed by him, in respect of such office or place of profit ..... was already in existence on the 1st of april, 1956, when the old act of 1913 was superseded by the new companies act, and in which offices of profit in or under the company were held by directors themselves or by relations of theirs, section 652 will dispense with the necessity for having the holding of these offices of profit by directors or their relations approved by a statutory majority of the members of the company by means or a special resolution as provided in section -314, .....

Niemla Textile Finishing Mills (P.) Ltd. Vs. Commissioner of Income-ta ...

Court : Punjab and Haryana

Reported in : [1975]45CompCas554(P& H); [1975]100ITR611(P& H)

..... het ram aggarwal andother directors were partners was holding office or place of profit under thecompany in contravention of the provisions of section 314(1) of thecompanies act, 1956, and, therefore, according to the provisions of section 314(2) of that act, all the directors shall be deemed to have vacatedtheir offices with effect from april 1, 1960, and consequently ..... that act runs as follows:' if any office or place of profit under the company or a subsidiary thereof is held in contravention of the provisions of sub-section (1), the director concerned shall be deemed to have vacated his office as director with effect from the first day on which the contravention occurs; and shall also be liable to refund to the company any remuneration received, or the monetary equivalent of any perquisites or advantage enjoyed by him, in respect of such office or place of profit.'10. ..... was appointed to hold the office or place of profit under the company. ..... , shall hold any office or place of profit except that of managing ..... processing agency were closely related to the director of the assessee-company, the income-tax officer held that the agreement was only a device for diverting the profits of the company to the directors or their relatives and he accordingly disallowed the commission ..... textile processing agency was appointed to hold the office of profit under the company, in violation of the provisions of section 314 of the companies act, 1956, the commission paid to it could not be allowed as .....

Deorao Laxman Anande Vs. Keshav Laxman Borkar

Court : Mumbai

Reported in : AIR1958Bom314; (1958)60BOMLR217

..... 16 under the heading 'office' refers to a case in which a person, who was appointed as a chemist to a town council, was held to hold an office or place of profit in the gift of the council.8. mr ..... of the constitution states that a person shall be disqualified for being chosen as, and for being, a member of the legislative assembly or legislative council of a state,(a) if he holds any office of profit under the government of india or the government of any state specified in the first schedule, other than an office declared by the legislature of the state by law not to disqualify its holder.the object of this provision is to secure independence of the members of the legislature and to ensure that ..... payable for all salaries, fees, wages, perquisites or profits whatsoever accruing by reason of such offices, employments or pensions after making the deduction named'.this was followed by a provision which ran thus:'each assessment, in respect of such offices or employments shall be in force for one year, and shall he levied for such year without any new assessment, notwithstanding a change may have taken place in any such, office or employment, on the person for the time being having ..... :'looking at the words of section 102, where the words are 'office of clerk to the justices', it is clear that the word is not used in the strict sense in which we find it employed in our law books, but in the general and liberal sense of a place to which duties and profits are attached'.stroud in note no. .....

Canara Workshops Ltd. Vs. Union of India

Court : Karnataka

Reported in : [1966]36CompCas553(Kar); (1965)2MysLJ520

..... sub-section (3)(a) of section 314 states that any office or place shall be deemed to be an office or place of profit under the company within the meaning of sub-section (1), in case the office or place is held by a director, if the director holding it obtained anything by way of remuneration over and above the remuneration to which he is entitled as such director. ..... now, if it was the intention of the legislature that even such remuneration as was attributable to any officer or place of profit validly held under the company, should also be within the limit specified in section 309(4), then it would only be reasonable to expect that it would have been plainly stated so, either in section 309 or in section 314. ..... section 314(1) provides that except in the case of certain offices specified in that sub-section, no director shall hold any office or place of profit under the company, unless the company has accorded previous consent by a special resolution. ..... the restriction set out in section 314 of the act against a director of a company, from holding any office or place of profit does not apply to the appointment of a director as a technical adviser. ..... further, in the context of a director holding an office of place of profit, the legislature has recognised the fact of such director obtaining from the company remuneration over and above that to which he is entitled as such director. .....

S.R. Rangappa Vs. Girijakumar

Court : Karnataka

Reported in : ILR1990KAR3256; 1990(3)KarLJ234

..... we do not, therefore, think that the chairman of a market committee holds any office or place of profit under the market committee and as such he is disqualified for being elected to the ..... the government is included, shall not be disqualified for being chosen as a member of the legislature by reason only of the fact that he holds an office of profit.we do not think that the implication of the provision is that the offices mentioned in the schedule must necessarily be regarded as offices of profit, irrespective of the fact whether any profit is at all attached to them or not and that but for these provisions the persons holding them could not have been eligible for ..... the learned single judge and the 4th respondent accepted the contention of the respondents and held that the appellant was holding an office of profit under local authority as chairman of the sirguppa agricultural market committee and the honorarium he was receiving was not a compensatory allowance ..... therefore that the view taken by the high court is not right and as we hold that the appellant was not holding any office of profit under the government at the material time he was certainly entitled to be chosen as a councillor under the mysore town municipalities ..... in our opinion considering the scheme of the act, 1966, it cannot be held that the appellant was holding an office of profit either under any of the governments or under a local authority subject to the control of any of the governments referred to in section .....

Pakanti Sudarshan Reddy and ors. Vs. District Collector, Warangal and ...

Court : Andhra Pradesh

Reported in : AIR1964AP421

..... firstly, it was urged by the learned advocate for the petitioners that respondents 3 to 12 being the sitting members of the city municipality, warangal, on the material dates of the election were holding office or place of profit under the city municipality, warangal, and were, therefore, disqualified in order to appreciate this contention, it becomes necessary to look into section 27 (1) (c) of the act section 27, as far as at is relevant for our purpose, is as follows :'27 ..... nor it is the intention of the legislature or the government to make that office an office of gain or remuneration, we do not, therefore, think that the chairman of a market committee holds any office or place of profit under the market committee and as such he is disqualified for being elected to the municipal committee, warangal ..... 27, however, is clear that before any person can be said to be suffering from any disqualification, the following three things must be satisfactorily proved :(1) that he holds an office or any place, (2) that it is an office or place of profit, and (3) that it is an office under the government, municipality, or any local authority. ..... for every meeting which they attended, they would be deemed to have been holding office or place of profit under the municipality on the date when they sought their re-election. ..... it is not the contention of the petitioners that respondents 3 to 12 hold office or place of profit under the government, either the state or the union, or under any local .....