Debenture - Law Dictionary Search Results
Home Dictionary Name: debenture Page: 2 Page 2 of about 43 results ( seconds)Secured creditor
Secured creditor, means any bank or financial institution or any consortium or group of banks or financial institutions and includes, (i) debenture trustee appointed by any bank or financial institution; or (ii) securitisation company or recon-struction company; or (iii) any other trustee holding securities on behalf of a bank or financial institution, in whose favour security interest is created for due repayment by any borrower of any financial assistance. [Securitisation and Recon-struction of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (zd)]Secured creditor, means any bank or financial institution or any consortium or group of banks or financial institutions and includes--(i) debenture trustee appointed by any bank or financial institution; or(ii) securitization company or reconstruction company; or(iii) any other trustee holding securities on behalf of a bank or financial institution, in whose favour security interest is created for due r...
Manager
Manager, a superintendent, a conductor, or director. As to the appointment of a manager of a business at the instance of a mortgagee, see Coote on Mortgages. As to managers appointed by debenture holders, see (English) Companies Act, 1929, s. 86, and Part VI. Of that Act relating to receivers and managers. As to special manager.[See (English) Bankruptcy Act, 1914, s. 10; (English) Companies Act, 1929, s. 209]Manager means a person who, subject to the control and direction of the directors, has the management of the whole affairs of a company, and includes a director or any other person occupying the position of a manager by whatever name called and whether under a contract or service or not. It will be clear that to satisfy the aforesaid definition a person, which could include a firm, body corporate or an association of persons, apart from being in management of the whole affairs of a company had to be 'subject to the control and direction of the directors'. This definition has underg...
Winding-up
Winding-up, the process by which an insolvent estate is distributed, as far as it will go, amongst the persons having claims upon it. The term is most frequently applied to the winding-up of joint-stock companies.The property of a company is collected and distributed firstly in discharge of its liabilities, and secondly, among its members according to their respective rights with a view to its dissolution. If the assets are not sufficient to meet the liabilities, a company is usually wound up by the Court. In other cases the winding-up is usually voluntary and conducted by the company itself either with or without the supervision of the Court. The provisions of the (English) Companies Act, 1929, govern a winding-up in any of these three modes (s. 156). In any winding-up the members who may be called upon to contribute are ascertained and their liability determined under ss. 157-162; see CONTRIBUTORIES. Debts and claims of all kinds require to be proved and if not of certain value to be...
Receiver
Receiver, is a person appointed for the collection or protection of property. He is appointed either by the court or out of court by individuals or corporations, Halsbury's Laws of England, 4th Edn., Vol. 39, p. 403, pp. 801.Receiver. (1) An officer appointed by the court to collect rents, etc., pending a suit. Receivers are appointed in actions for administration; in actions by mortgages or against trustees or executors; in actions between partners for winding up the partnership business, and in a great many other cases. (2) A mortgagee may also appoint a receiver of the mortgaged property, if empowered so to do by the mortgage deed or by separate instrument, without having to apply to the court; and by s.19 of the (English) Conveyancing Act, 1881, reproduced and extended to mortgages of certain incorporated hereditaments, such as rentcharges or annual income, by the (English) Law of Property Act, 1925, s. 101, in the case of a mortgage executed on or after the 1st January, 1882, the ...
Prospectus
Prospectus, giving complete information about the school/college which issues it. It is the instrument through which the school/college 'holds out' its contents or 'represent' to the general public interest, Sanjeev Dadhwa v. All India Institute of Medical Sciences, AIR 1995 Del 268.Is a document which invites persons to take shares in a company and sets forth the advantages of the company an advertisement is also a prospectus, Paramatha Nath v. Kali Kumar, AIR 1925 Cal 714: (1925) ILR 51 Cal 440.Prospectus, is defined by s. 380 of the (English) Companies Act, 1929, as any prospectus, notice, circular, advertisement, or other invitation offering to the public for subscription or purchase any shares or debentures of a company. By s. 35 of the Act every prospectus issued by or on behalf of a company or engaged or interested in its formation, must state the matters specified in Part I. of the 4th Schedule and set out the reports specified in Part II. of that Schedule, subject as to both p...
Preferential payments
Preferential payments, in bankruptcy, administra-tion of estates of persons dying insolvent, and winding up of a company:-One year's rates and taxes, four months' salaries of clerks up to fifty pounds, and two months' wages of labourers or workmen, up to twenty-five pounds (labourers in husbandry paid partly in a lump sum at the end of the year of hiring to have the whole or proportionate part of that sum). Also sums due under the Workmen's Compensation Acts, the National Insurance Acts (Health and Unemployment and Contributory Pensions). These debts rank equally between them unless the assets are insufficient, in which case they are to abate in equal proportions. By the (English) Bankruptcy Act, 1914 (see s. 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; and by s. 264 (4) (b) of the Companies Act, 1929, these debts are ...
Scrip
Scrip, a certificate or schedule; also evidence of the right to obtain shares or debentures in a limited company, sometimes called 'scrip-certificate,' generally part paid and exchangeable for the certificate of share or the debenture upon payment in full. Scrip to bearer appears to be negotiable and to pass by delivery, see Goodwin v. Robarts, (1875) LR 10 Ex 337; 1 App Cas 476; Rumball v. Metropolitan Bank, (1877) 2 QBD 194.1. A document that entitles the holder to receive something of value 2. Paper money issued for temporary use, Black's Law dictionary, 7th Edn., p. 1349....
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
Debt security sterling
Debt security sterling, means a debt security in relation to which the principal, interest and subscription moneys are payable solely in sterling, and 'debt security' includes bonds, notes, debentures and debenture stock, Banking Act, 1987 (Exempt Transactions) Regulations 1988, reg. 1(2) (UK) Halsbury's Laws of England 3(1), para 32, p. 28....
Charge
Charge (i) the instructions of a judge to a jury; the judge's summing up of the evidence at a trial by jury; the periodical address of a bishop or archdeacon to his clergy; the taking proceedings against a prisoner; a commission.To lay a duty upon any one, to acquaint any with the nature of their duty. See CHARGE SHEET. The clerk of arraigns gives te prisoner 'in charge' to the jury, by reading an abstract of the indictment, and they are bound to proceed to deliver him until they are discharged. To prefer an accusation against any one.A burden, duty, or trust, when attached to property; see MORTGAGES AND CHARGES, DEBENTURE, LAND CHARGES, ADMINISTRATION, REGISTRATION OF LAND.Includes any head of charge when the charge contains more heads than one. [Code of Criminal Procedure, 1973 (2 of 1974), s. 2 (b)]Means expenditure, H.H. Maharajadhiraja Madhav Rao Jivaji Rao Scindia Bahadur of Gwalior v. Union of India, (1971) 1 SCC 85: AIR 1971 SC 530: (1971) 3 SCR 9.See also K. Muthuswami Gounder...
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