Existing Industrial Undertaking - Law Dictionary Search Results
Home Dictionary Name: existing industrial undertaking Page 1 of about 6 results (0.004 seconds)Existing industrial undertaking
Existing industrial undertaking, means--In the case of an industrial undertaking pertaining to any of the industries specified in the First Schedule as originally enacted, an industrial undertaking which was in existence on the commencement of this Act or for the establishment of which effective steps had been taken before such commencement, andIn the case of an industrial undertaking pertaining to any of the industries added to the First Schedule by an amendment thereof, an industrial undertaking which is in existence on the coming into force of such amendment or for the establishment of which effective steps had been taken before the coming into force of such amendment. [Industries (Development and Regulation) Act, 1951, s. 3 (bb) (a) (b)]...
Amalgamation
Amalgamation, in amalgamation two or more companies are fused into one by merger or by taking over by another. Reconstruction or 'amalgamation' has no precise legal meaning. The amalgamation is a blending of two or more existing undertakings into one undertaking, the share-holders of each blending company become substantially the shareholders in the company which is to carry on the blended undertakings. There may be amalgamation either by the transfer of two or more undertakings to a new company, or by the transfer of one or more undertakings to an existing company. Strictly 'amalgamation' does not cover the mere acquisition by a company of the share capital of other company which remains in existence and continues its undertaking but the context in which the term is used may show that it is intended to include such an acquisition, Saraswati Industrial Syndicate Ltd. v. C.I.T., 1990 Supp SCC 675 (679).Amalgamation, in an amalgamation two or more companies are fused into one by merger o...
Industrial dispute
Industrial dispute, means any dispute or difference between employers and employers, or between employers and workmen, or between workmen and workmen, which is connected with the employment or non-employment or the terms of employment or with the conditions of labour, of any persons. [Industrial Disputes Act, 1947, s. 2 (k)]The words 'Industrial disputes' in the Industrial Disputes Act include also disputes that might arise between municipalities and their employees in branches of work that can be said to be analogous to the carrying out of a trade or business, D.N. Banerjee v. P.R. Mukherjee, AIR 1953 SC 59: (1953) SCR 302. [Constitution of India Sch VII, List III, Entry 22]A dispute between an employer and single workman does not fall within the definition of Industrial dispute' under the U.P. Industrial Disputes Act, 1947. But though the applicability of the Act to an individual dispute as opposed to dispute involving a group of workmen is excluded, if the workmen as a body or a con...
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...
Retrenchment
Retrenchment, in its ordinary connotation is discharge of labour as surplus though the business or work itself is continued, S.M. Nilajkar v. Telecom District Manager, (2003) 4 SCC 27.Means the termination by the employer of the service of a workman for any reason whatsoever, otherwise than as a punishment inflicted by way of disciplinary action but does not include--(a) voluntary retirement of the workman; or(b) retirement of the workman on reaching the age of superannuation if the contract of employment between the employer and the workman concerned contains a stipulation in that behalf; or(bb) termination of the service of the workman as a result of the non-renewal of the contract of employment between the employer and the workman concerned on its expiry or of such contract being terminated under a stipulation in that behalf contained therein; or(c) termination of the service of a workman on the ground of continued ill-health. [Industrial Disputes Act, 1947 (14 of 1947), s. 2 (oo)]T...
Landlord and tenant
Landlord and tenant. A tenancy arises when the owner of an estate inland, called the lessor or landlord, agrees expressly or by implication to allow another person, called the lessee or tenant, to enjoy the exclusive possession and use of the land for a period less than the landlord's estate in it, generally upon payment of rent. The landlord's estate is called the reversion, and at common law, a power of distress for rent is incident to the reversion.Leases or tenancies may be (1) for any agreed period such as for years or less, e.g., for a year, half-year, quarter or week; (2) from year to year; (3) at will; (4) on sufferance; or (5) they may arise upon estoppel; or (6) exist by force of a statute (see LEASE; INCREASE OF RENT). In a narrower sense the words 'tenancy' and 'landlord and tenant' are generally restricted to lease of a house or land for occupational purposes. If nothing appears to the contrary, either expressly or by implication, in the lease or agreement, the landlord is...
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