Power of Court to order meeting to be called, powers of Court to order meeting to be called. - (1) If for any reason it is impracticable to call a meeting of a company, other than an annual general meeting, in any manner in which meetings of the company may be called, or to hold or conduct the meeting of the company in the manner prescribed by this Act or the articles, the Court may, either of its own motion or on the application of any director of the company, or of any member of the company who would be entitled to vote at the meeting. - (a) order a meeting of the company to be called, held and conducted in such manner as the Court thinks fit; and (b) give such ancillary or consequential directions as the Court thinks expedient, including directions modifying or supplementing in relation to the calling, holding and conducting of the meeting the operation of the provisions of this Act and of the company's articles. Explanation. - The directions that may be given under this sub-section...
Railway administration, the definition of 'railway administration' in s. 3(6) of the Railways Act, 1890, that it would mean the manager of the railway does not warrant the inference that a suit against the railway administration can be brought against the manager of that railway, State of Kerala v. General Manager, AIR 1976 SC 2538: (1976) 4 SCC 265: (1977) 1 SCR 419....
Stannary [stannaria, fr. stannum, Lat.; stean, Cornish, tin], a tin mine.From very ancient times there were Stannary Courts in Cornwall for the administration of justice among the tinners therein, such courts being mentioned in charters of the reign of King John. In 1855 their jurisdiction was extended to Devonshire mines. The Stannaries Court Abolition Act, 1896, trans-ferred this jurisdiction (which was exercised by a Vice-Warden with an appeal to the Lord Warden and a further appeal to the Court of Appeal by virtue of s. 18 of the Judicature Act, 1873 [see now Judicature Act, 1925, s. 26)], to county courts; see Companies Act, 1929, ss. 163 (jurisdiction in winding up), 297 to 299 (attachment of debts, preferential payments, and mine club funds), 339 (1) (contributories), 357 (prohibition of unregis-tered companies having more than twenty members not to apply), 375 (jurisdiction of the Court exercising Stannaries jurisdiction); Dunbar v. Harvey, (1913) 2 Ch 530.The 'Stannaries' cove...
company pl: -nies : an association of persons for carrying on a commercial or industrial enterprise compare corporation, partnership finance company : a company that makes usually small short-term loans to individuals growth company : a company that grows at a greater rate than the economy as a whole and that usually directs a relatively high proportion of income back into the business holding company : a company whose sole function is to own and control other companies investment company : a company that earns income solely or primarily by holding and investing in securities issued by other companies or by government agencies joint-stock company : a business organization whose capital is represented by shares owned by stockholders each of whom is personally liable for the company's debts limited liability company : an unincorporated company formed under applicable state statute whose members cannot be held liable for the acts, debts, or obligations of the company and that ma...
Account or Accompt [fr. compte, Fr., computo, Lat.], a registry of debts, credits, and charges, or a detailed statement of a series of receipts (credits) and disbursements (debits) of money-which have taken place between two or more persons. Accounts are either-(1) open, where the balance is not struck, or it is not accepted by all the parties; (2) stated, where it has been expressly or impliedly acknowledged to be correct by all the parties; and (3) settled, where it has been accepted and discharged. Stated and settled accounts may be investigated and reopened by the Court on the ground of fraud or fiduciary relationships. See SURCHARGE and FALSIFY.Companies under the Companies Act, 1929, must keep proper books of account, and present to the company in general meeting not less than 18 months after incorporation and subsequently at least once in every year a profit and loss account and balance sheet, to copies of which shareholders of all companies, except private companies, are entitl...
Metro railway, means rail-guided mass rapid transit system having dedicated right-of-way, with steel wheel or rubber-tyred wheel coaches, but excluding tramways, for carriage of passengers, and includes-(A) all land within the boundary marks indicating the limits of the land appurtenant to a metro railway, (B) all rails tracks, sidings, yards or branches worked over for the purposes of, or in connection with, a metro railway, (C) all stations, offices, ventilation shafts and ducts, warehouses, workshops, manufactories, fixed plants and machineries, sheds, depots and other works constructed for the purpose of, or in connection with, a metro railway. [Delhi Metro Railway (Operation and Maintenance) Act, 2002 (60 of 2002), s. 2(1)(i)]...
Non-Government railway, 'non-Government railway' means a railway other than a Government railway. [Railways Act, 1989 (24 of 1989), s. 2(25)]...
Operation and maintenance of a railway, before any one can be charged with the offence u/s. 3 of the Railway Stores (Unlawful Possession) Act, 1955, it must be shown that he was in possession of railway stores which by the definition of s. does not include all articles which are the property of a railway administration but only those which are used or intended to be used in the construction, operation or maintenance of a railway, Kashmiri Lal v. State of Uttar Pradesh, AIR 1970 SC 1868: (1970) 2 SCR 187: (1969) 2 SCC 706....
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 ...
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...