Acquisition By Transfer - Law Dictionary Search Results
Home Dictionary Name: acquisition by transferAcquisition by transfer
Acquisition by transfer, 'Transfer of property' means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself, or to himself and one or more other living persons. (Delhi Rent Control Act, 1958), V.N. Sarin v. Ajit Kumar Poplai, AIR 1966 SC 432 (435): (1966) 1 SCR 349....
Acquisition
Acquisition, 'acquisition' means, directly or indirectly, acquiring or agreeing to acquire-(i) shares, voting rights or assets of any enterprise; or (ii) control over management or control over assets of any enterprise. [Competition Act, 2002 (12 of 2003), s. 2(a)]'Acquisition', with its grammatical variations and cognate expressions, includes hiring, borrowing, or accepting as a gift. [Arms Act, 1959 (54 of 1959), s. 2(a)]The office of one functionary is brought to an end another functionary has come into existence in its place. Such a process cannot be said to constitute the acquisition of the extinguished office or the vesting of the rights in the person holding that office, Bira Kishore Deb v. State of Orissa, AIR 1964 SC 1501 (1508): (1964) 7 SCR 32. [Constitution of India, Art. 31(2), 19(1) (f)]Means taking not by voluntary agreement but by authority of an Act of Parliament and by virtue of the compulsory powers thereby conferred. In case of acquisition the property is taken by t...
Transfer
Transfer, a permanent alienation is a transfer and a permanent alienation includes the several kinds of transfers, namely, sale, exchange or gift, Syed Jalal v. Targopal Ram Reddy, AIR 1970 AP 19.Transfer, cannot have the widest comprehension, and does not indicate or include compulsory transfer or forced transfer, like court auction sale, Kharva Gigabhai Mavji v. Soni Jagjivvan Kanji, 1979 (20) Guj LR 256.Transfer, connotes, normally, between two living persons during life; will take effect after demise of the testator and transfer in that perspective becomes incongruous, State of West Bengal v. Kailash Chandra Kapur, (1997) 2 SCC 387.Transfer, Decrees which would have the effect of extinguishing the tittle of the holder and nesting the same in some one else though not falling within the ordinary meaning of the phrase 'transfer of property' would be 'transfers' within the meaning of the term as used in ss. 4 and 5, Jagdish v. State of Madhya Pradesh, AIR 1993 MP 132. [See M.P. Ceiling...
Nationalised bank
Nationalised bank, means a corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or a corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1980. [Industrial Development Bank of India Act, 1964, s. 2 (da)] [S. 224A(2) expln. (b) Companies Act]...
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....
Acquisition, acquire
Acquisition, acquire, acquisition is the act by which a person acquires property in a thing. 'Acquire' is to become the owner of the property. One can, therefore, acquire a property either by voluntary or involuntary transfer, Devi Das Gopal Krishnan v. State of Punjab, AIR 1967 SC 1895 (1904): (1967) 3 SCR 557. [Punjab General Sales Tax Act, (46 of 1948), s. 2 (FF)]...
Requisition and acquisition
Requisition and acquisition, there are significant differences between 'requisition' and 'acquisition'. These have different legal consequences and these affect the owners concerned in different manners. The requisition is taking over of possession of the property normally for a limited period whereas the acquisition is taking over of title of the property permanently. But the State has the power both of requisition as well as acquisition, subject to one condition, i.e., the property acquired or requisitioned must be for public purpose, Jiwani Kumar Paraki v. First Land Acquisition Collector, AIR 1984 SC 1707: (1984) 4 SCC 612: (1985) 1 SCR 686....
A person of Indian origin
A person of Indian origin. It means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who-(i) at anytime, held Indian passport; or (ii) who or either of whose father or whose grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955. [Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000, R. 2 (c)]...
Acquisition by State
Acquisition by State, The words 'acquisition by the State' in the second proviso to article 31A(1) do not have a technical meaning. It means that the law must make a provision for the acquisition by the State of an estate. But what is the true meaning of the expression 'acquisition by the State of an estate', Ajit Singh v. State of Punjab, AIR 1967 SC 856 (861): (1967) 2 SCR 143....
Banking company
Banking company, shall have same meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949) [Income Tax Act, 1961 (43 of 1961), s. 47 (vi-aa) Exp. (i).]--'Banking company' means a banking company as defined in the Banking Regulation Act, 1949. S. 5(c) of the Act of 1949 defines a banking company to mean any company which transacts the business of banking in India (subject to the provision contained in the Explanation to the section). Thus, in order that a bank may be a banking company, it is in the first place necessary that it must be a 'company', State Bank of Travancore v. Mohammed Mohammed Khan, AIR 1981 SC 1744: (1982) 1 SCR 338: (1981) 4 SCC 82 (88).does not include a foreign company within the meaning of s. 591 of the Companies Act, 1956. [Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), s. 2 (a)]means any company which transacts the business of banking in India. [The Banking Regulation Act, 1949 (10 of 1949)...
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