Bolani Ores Limited Acquisition Of Shares And Miscellaneous Provisions Act 1978 Preamble 1 The Bolani Ores Limited Acquisition Of Shares And Miscellaneous Provisions Act 1978 - Law Dictionary Search Results
Home Dictionary Name: bolani ores limited acquisition of shares and miscellaneous provisions act 1978 preamble 1 the bolani ores limited acquisition of shares and miscellaneous provisions act 1978Undivided shares in land
Undivided shares in land. Before 1926 a legal estate in undivided shares in land was held by joint tenants, tenants in common, coparceners, and by husband and wife as tenants by entireties (see those titles), but now by the Law of Property Act, 1925, s. 1 (6), a legal estate is not capable of subsisting or of being created in an undivided share inland, and by the same s. 1 (3) and ss. 34 (4), 205, and 1st Sch., Part IV., and cf. TRUST FOR SALE, such shares are to take effect as equitable interests only in the net proceeds of sale and of the rents and profits of the entirety of the land until sale, while the legal estate must be held by trustees for sale of the entire undivided property. It should be noticed that shares only are affected by these provisions. The legal estate in the joint tenancy in the entirety of the trustees for sale persists ex necessitate rei, and this is given effect to by s. 36, as amended, prohibiting severance of the legal estate in joint tenancy and providing f...
Industry
Industry, 'Industrial dispute' and 'workman' taken in the extended significance, or exclude it. Though the word 'undertaking' in definition of industry is wedged in between business and trade on the one hand and manufacture on the other, and though therefore it might mean only a business or trade undertaking, still it must be remembered that if that were so, there was no need to use the word separately from business or trade. The wider import is attracted even more clearly when we look at the latter part of the definition which refers to 'calling, service, employment, or industrial occupation of, avocation of workman. 'Undertak-ing' in the first part of the definition and 'industrial occupation or avocation in the second part obviously mean much more than what is ordinarily understood by trade or business. The definition was apparently intended to include within scope what might not strictly be called a trade or business venture, Bangalore Water Supply and Sewerage Board v. A. Rajappa,...
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...
Appropriate government
Appropriate government, means in relation to public authority which is established, constituted, owned, controlled or substantially financed by funds provided directly or indirectly--(i) by the Central Government or the Union Territory administration, the Central Government, (ii) by the State Government, the State Government [Right to Information Act, 2005 (22 of 2005), s. 2(a)]The Appropriate Government means, in relation to fees or stamp relating to documents presented or to be presented before any officer serving under the Central Government, that Government, and in relation to any other fees or stamps, the State Government. [Court-Fees Act, 1870 (7 of 1870), s. 1A]Means as respects any matter--(i) enumerated in List II of the Seventh Schedule to the Constitution. (ii) relating to any State law enacted under List III of the Seventh Schedule to the Constitution. [Information Technology Act, 2000 (21 of 2000), s. 2 (1) (e)]Means in relation to any major port the Central Government, an...
Trial
Trial, does not exclude a proceeding relating to the delivery of judgment, Inayat v. Rex, AIR 1950 All 369: 1950 All LJ 127: 1950 All WR 245.Trial, is not necessary that the trial must be a full-dressed or a jury trial or a trial which concludes only after taking evidence of the parties in support of their respective cases, Dipak Chandra Ruhidas v. Chanden Kumar Sarkar, AIR 2003 SC 3701.Trial, is the conclusion, by a competent tribunal, of question in issue in legal proceedings, whether civil or criminal. Strouds Judicial Dictionary (5th Edn.) Indian Bank v. Maharashtra State Co-op. Marketing Federation Ltd., (1998) 5 SCC 69.Trial, is the examination by a competent court of the facts or laws in dispute, or put in issue in a case. It is the judicial examination of issues between the parties, whether they are of law or of fact, Sajjan Singh v. Bhagilal Pandya, AIR 1958 Raj 307.Trial, is understood as referring to the stage of the proceeding in a criminal case after the charge had been fr...
Actio personalis moritur cum persona.
Actio personalis moritur cum persona. A personal action dies with the person, i.e., the right to sue is gone. 'As if battery be done to a man, if he who did the battery or the other die, the action is gone' (Noy, 9th Edn., p. 20). This maxim states the general rule that actions of tort are destroyed by death of either the injured or the injuring party. Besides the statutory exceptions mentioned below, an action may be brought by the personal representatives of a deceased person for injury done to his property in his lifetime. It has also been applied to actions arising out of contracts of a purely personal nature, e.g., promise to marry, Finley v. Chirney, (1880) 20 QBD 494, or to write a book or paint a picture, See Leake on Contracts; Broom's Max.; Twycross v. Grant, (1877) 4 CPD 40; Phillips v. Homfray, (1993) 24 Ch D 439; and Jones v. Simes, (1890) 43 Ch D 607 as to injunction.This rule of the Common Law has been encroached upon by various statutes; by 4 Edw. 3, c. 7, as to trespas...
Contribution
Contribution, to any fund shall not include any sums in repayment of loan. [Income-tax Act, 1961 (43 of 1961), s. 80C(8)(ii)]Means the sum of money payable to the corporation by the principal employer in respect of an employee and includes any amount payable by or on behalf of the employee in accordance with the provisions of this Act. [Employees' State Insurance Act, 1948 (34 of 1948), s. 2(4)]The word 'contribution' used in the proviso must also be given its due meaning. It cannot be understood as donations. If that be so, a voluntary contribution cannot amount to a compulsive donation. If the donor, in order to gain an advantage or benefit, if he apprehends that but the contribution some adverse consequence would follow, makes a donation certainly it ceases to be voluntary, Municipal Corpn. of Delhi v. Children Book Trust, AIR 1992 SC 1456 (1472): (1992) 3 SCC 390. [Delhi Municipal Corporation Act, 1957, (66 of 1957), s. 115(4)(a), Proviso]The performance by each of two or more pers...
Period of limitation
Period of limitation, connotes the period of years, months or days prescribed by law impassing limitation. It does not refer to a period after expiry of which no proceedings can be instituted, District Collector, Kottayam v. Cheriyan Marriamna, (1969) Ker LT 748.Means the period of limitation prescribed for any suit, appeal or application by the Schedule, and 'prescribed period' means the period of limitation computed in accordance with the provisions of this Act. [Limitation Act, 1963 (36 of 1963), s. 2 (j)]The 'period of limitation' is defined in s. 2(j) of the Limitation Act, 1963, and 'means the period of limitation prescribed for any suit, appeal or application by the Schedule, and 'prescribed period' means the period of limitation computed in accordance with the provisions of this Act'. Whenever, therefore, under s. 12 a prescribed period of limitation has to be computed certain days are permitted to be excluded in order that a person who desires to appeal is not put to any incon...
Factory
Factory, a place where a number of traders reside in a foreign country for the convenience of trade; also a building in which goods are manufactured.In the Factory and Workshop Act, 1901, 'Factory' means by s. 149 'textile factory and non-textile factory, or either of those descriptions of factories.'The expression 'textile factory' means any premises wherein or within the close or curtilage of which steam, water or other mechanical power is used to move or work any machinery employed in preparing, manufacturing or finishing or in any process incident to the manufacture of cotton, wool, hair, silk, flax, hemp, jute, tow, china-grass, cocoanut fibre or other like material, either separately or mixed together or mixed with any other material, or any fabric made thereof:Provided that print works, bleaching and dyeing works, lace warehouses, paper mills, flax scutch mills, rope works and hat works shall not be deemed to be textiles factories.'Tenement factory' means a factory when mechanic...
Limited liability
Limited liability. At Common Law every person is liable, upon his contracts, up to the whole amount of his estate, and every partner is so liable upon all the contracts of the partnership. So extensive a liability being apt to prevent persons from engaging in business as partners, the statutes authorizing the construction of railways, etc., have always limited the liability of each shareholder to the amount of the shares held by him. Similar limitations, extending in some cases to double the amount of shares held, have also long been found (though not universally) in the charters of incorporated banks and insurance companies.Companies Acts.--Under the Companies Acts, limited liability means that the members are not liable beyond the unpaid-up part (if any) of the nominal amount of the shares in respect of which they are registered in the books of the company. When a share has been fully paid up, no further liability exists. As to shares which have not been fully paid up, see CONTRIBUTO...
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