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Financial Institution

of 1961), s. 80E(3)(b)] Means: (i) a public financial institution within the meaning of s. 4A of the Companies Act, 1956; (ii) such other institution as the Central Government may, having regard to its business activity and

Promoter

for obtaining, the passing of a private Act of Parliament, to the incorporation of a company under the Companies Acts, are called the promoters. In many respects promoters stand in a fiduciary capacity towards the company which

Preferential payments

34), the preference was extended to apprentices. See the (English) Bankruptcy Act, 1914, s. 33, and the (English) Companies Act, 1929, s. 264, by which these debts are directed to be paid in priority to all others;

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Voluntary winding up and winding up by the court

Court' have acquired a technical meaning in our Company and Insurance jurisprudence. Like the Co-operative Society Laws, the Companies Act and the Insurance Act also make a distinction between the cessation of business by a company and

Ultra vires

653, where the Houseof Lords held that a contract by the directors of a company incorporated under the Companies Act, 1862, if it be outside the Memorandum of Association, neither binds the company nor can be made

Tables

Tables, under the Companies Act, 1929, First Schedule:- A. The model form of Articles of Association for a company limited by shares.

Share and debenture

Share and debenture, 'Share' has been defined in s. 2(46) of the Companies Act to mean a share in the share capital of a company which in turn would mean that

Owner

Owner, for the purposes of the Public Health Act, 1936, s. 343, replacing s. 4 of the Public Health Act, 1875, the Factory and Workshop Act, 1901, and the London Building Acts (Amendment) Act (5 Edw....

Estoppel

Estoppel, a conclusive admission, which cannot be denied. It is of three kinds:- (1) By matter of record, which imports such absolute and incontrovertible verity, that no person against whom it is producible shall be permitted...

Capital

Capital [fr. Capitalis; caput, Lat.]. The corpus of property of any description which may or may not be the source of a periodical or other return (fructus, produce or income). The word 'capital' when employed in...

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