Acquisition By State - Law Dictionary Search Results
Home Dictionary Name: acquisition by state Page: 2reorganization
reorganization 1 : the act of reorganizing : the state of being reorganized 2 a : the rehabilitation of the finances of a business in accordance with a plan approved by a bankruptcy court under the provisions of chapter 11 of the Bankruptcy Code b : any of various procedures (as recapitalization or merger) that affect the tax structure of a corporation under the Internal Revenue Code and often produce favorable tax treatment A reorganization [ā-] : a reorganization that consists of a merger or consolidation which complies with the requirements of applicable state statute B reorganization [bē-] : a reorganization involving the acquisition by one corporation of the stock of another corporation in exchange solely for all or some of the voting stock of the acquiring corporation or its parent either of which has control of the acquired corporation immediately after the acquisition C reorganization [sē-] : a reorganization involving the acquisition by one corporation...
Acquisition of property
Acquisition of property, Acquisition of property, in the context, means the extinction of the citizens rights in the property and the conferment of the said rights in the State or the State owned corporation, Tilayat Shri Govindji Maharaj v. State of Rajasthan, (1964) SCR 561: AIR 1963 SC 1638 (1659). [Constitution of India, Art. 31(2) (after fourth Amendment)]...
Land
Land, in its restrained sense, means soil, but in its legal acceptation it is a generic term, comprehend-ing every species of ground, soil or earth, whatso-ever, as meadows, pastures, woods, moors, waters, marshes, furze and heath; it includes also houses, mills, castles, and other buildings; for with the conveyance of the land the structures upon it pass also. And besides an indefinite extent upwards, it extends downwards to the globe's centre, hence the maxim, Cujus est solum ejus est usque ad c'lum et ad inferos; or, more curtly expressed, Cujus est solum ejus est altum. See Co. Litt. 4 a.In an (English) Act of Parliament passed after 1850 'land' includes messuages, tenements and hereditaments, houses, and buildings of any tenure, Interpretation Act, 1889, s. 3. By the Law of Property Act,1925, s. 205(1)(ix.), 'land' for the purposes of the Act includes land of any tenure, and mines and minerals, whether or not held apart from the surface, buildings or parts of buildings (whether th...
Market value
Market value, The term 'market value' has ac-quired a definite connotation by judicial decisions. Any addition to the value of the land to the owner whose land is compulsorily acquired which addition is the result of such factors as are unrelated to the open market cannot be regarded as a part of the market value, Union of India v. Shri Ram Mehar, AIR 1973 SC 305: (1973) 2 SCR 720: (1973) 1 SCC 109.Market value means the price that a willing purchaser would pay to a willing seller for the property having due regard to its existing condition with all its existing advantages and its potential possibilities when laid out in the most advantageous manner excluding any advantages due to the carrying out of the scheme for which the property is compulsory acquired, Thakur Kanta Prasad Singh v. State of Bihar, AIR 1976 SC 2219: (1976) 3 SCC 772: (1976) 3 SCR 585; Prithvi Raj Taneja v. State of Madhya Pradesh, AIR 1977 SC 1560: (1977) 1 SCC 684: (1977) 2 SCR 633. (Land Acquisition Act, 1894, s. ...
Award
Award [the primitive sense of ward is shown in the It. Guardare, Fr. regarder, to look. Hence, Prov. Fr. eswarder (answering in form to award), to inspect goods, and, incidentally, to pronounce them good and marketable; eswardenur, an inspector, Hecart. An award is accordingly, in the first place, the taking a matter into consideration and pronouncing judgment upon it; but in later times the designation has been transferred exclusively to the consequent judgment, Wedgw.], a document containing the determination of commissioners, under an Inclosure Act or other public statute; also an instrument embodying an arbitrator's decision on a matter submitted to him. It must follow the submission, but need not necessarily be in writing, unless so prescribed. An award is generally considered as published as soon as the arbitrator has done some act where by he becomes functus officio, and has declared, and can no longer change, his final mind. As soon as the award is executed, notice thereof shou...
Public sector bank
Public sector bank, means the State Bank of India constituted under the State Bank of India Act, 1955, a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959, a corres-ponding new bank constituted under s. 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or under s. 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act 1980. [Small Industries Development Bank of India Act, 1989, s. 2 (la)]. See also State Financial Corporation Act, 1951....
Acquired
Acquired, the expression 'acquired' should be taken to be a reference to 'acquisition' as understood in Public International Law. If there were any public notification, assertion or declaration by which the Government of this country had declared a territory as part and parcel of the territory of India, the Courts would be bound to recognise an 'acquisition' as having taken place, with the consequence that that territory would be part of the territory of the Union within Art. 1(3)(c), N. Masthan Sahib v. Chief Commr., AIR 1963 SC 533 (538). [Constitution of India, Art. 1(3)(c)]Acquired, includes vesting of property in govern-ment by statutory process. But unless such statutory acquisition of a part of the mortgaged property by Government is in the character of a mortgage money even proportionately, State of Kerala v. Koliyat Estates, (1999) 8 SCC 419....
Act of State
Act of State, means not all governmental acts as it does in the French and Continental Systems but only some of them. The term is next used to designate immunities and prohibitions sometimes created by statutes. The term is also extended to include certain prerogatives and special immunities enjoyed by the sovereign and its agents in the business of internal government. the term is even used to indicate all acts into which, by reason that they are official in character, the Courts may not inquire, or in respect of which an official declaration, is bindings on the Courts, State of Saurashrtra v. Meman Haj Ismail, AIR 1959 SC 1383 (1387): (1960) 1 SCR 537.Means acts done against aliens in exercise of sovereign power of the State. The Municipal Courts debarred from entering into the validity of the Act of State, Secretary of State for India in Council v. Kamachee Boyee Sabha, 7 MIA 476. See also Jahangir v. Secretary of State for India, 6 Bom LR 131; Virendra v. State of Uttar Pradesh, 19...
Corporation owned or controlled by the State
Corporation owned or controlled by the State, the expression 'Corporation owned or controlled by the State' means any body corporate established by or under a Central, Provincial or State Act, and includes a Government company as defined in s. 617 of the Companies Act, 1956, a society registered under the Societies Registration Act, 1860, or under any corresponding law for the time being in force in a State, being a society established or admini-stered by Government and a co-operative society within the meaning of any law relating to co-operative societies for the time being in force in any State, being a co-operative society in which not less than fifty-one per centum of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments. [Land Acquisition Act, 1894 (1 of 1894), s. 3 (cc)]...
Person aggrieved
Person aggrieved, does not include a mere busy-body, but refers to one who has a genuine grievance on account of some order prejudicially affecting his interests, K.C. Pazhanimala v. State of Kerala, AIR 1969 Ker 154: (1968) ILR 2 Ker 422; P.S.R. Sadanatham v. Arunachalam, (1980) SCC (Cr) 649; V.D. Kumarappan v. Secy, Home Department, AIR 1960 Ker 378; Ashok Autoservice of Belim v. Union of India, AIR 1968 Goa 67; Ebrahim Aboobaker v. Custodian General of Evacuee Property, AIR 1952 SC 319; Custodian of Evacuees Property v. Ahad Noga, AIR 1957 J&K 50.If a person is a member of a society and is wrongfully excluded, then he is a 'person aggrieved', Chapadgaon Vividh Karyakan Seva Sahakari Society, Chapadgaon v. Collector of Ahmednagar, (1989) 3 Bom CR 641 [Maharashtra Co-operative Societies Act, 1960, s. 144]; Adi Pherozshab Gandhi v. H.M. Seervai, AIR 1971 SC 385; Mohammed Sharfuddin v. R.P. Singh, AIR 1957 Pat 235; Northern Plastics Ltd. v. Hindustan Photo Film Mfg. Co. Ltd., (1997) 4 S...
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