Securitisation company, means any company formed and registered under the Companies Act, 1956 (1 of 1956) for the purpose of securitisation. [Securitisation and Reconstruction of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (za)]...
Dealing with the company, a shareholder receiving bonus shares from the company is 'a person dealing with the company', EIC Services Ltd. v. Phipps, (2003) 1 WLR 2360. [Companies Act, 1985, s. 35A(1)]...
Government company, means a Government com-pany within the meaning of the Companies Act, 1956 (1 of 1956). [Central Vigilance Commission Act, 2003 (45 of 2003), s. 2(d)...
Public company, shall have the same meaning as in section 3 of the Companies Act, 1956 (1 of 1956). [Income-Tax Act, 1961 (43 of 1961), s. 80C]...
Minutes of a company must be kept of all general meetings and meetings of the directors or managers in a book which is open to inspection by the members (Companies Act, 1929, ss. 120 and 121). The minutes are evidence, but neither conclusive nor exclusive, Re Fireproof Doors Ltd., (1916) 2 Ch 142....
Consolidation Acts (English). Acts by which several Acts upon the same subject are reduced into one. Of such a character are the Larceny Act, 1861, now largely repealed and replaced by the Larceny Act, 1916, and other Criminal Law Consolidation Acts of 1861, the Public Health Act, 1875, the Municipal Corporations Act, 1882, the Sheriffs Act, 1887, the Arbitration Act, 1889, the Factors Act, 1889, the Lunacy Act, 1890, the Stamp Act, 1891, the Merchant Shipping Act, 1894, the Friendly Societies Act, 1896, the Factory and Workshop Act, 1901, the Coal Mines Act, 1911, the Forgery Act, 1913, the Companies Act,1929, the Poor Law Act, 1930, the Local Government Act, 1933, the County Court Act, 1934.The (English) Interpretation Act, 1889 (see that title), by s. 38(1) enacts that--Where this Act or any Act passed after the commencement of this Act repeals and re-enacts, with or without modification, any provisions of a former Act, references in any other Act to the provisions so repealed shall...
Indian Medical Register, means the medical register maintained by the Council. [Indian Medical Council Act, 1956 (102 of 1956), s. 2 (d)]...
Act or Omission, an 'act or omission' need not necessarily be criminal; it may even include acts or omissions which are commercially unsound or unwise, K. Joseph Augushti v. Narayanan, (1964 7 SCR 137: AIR 1964 SC 1552 (1556). [Banking Companies Act, 1949 (10 of 1949), s. 45-G]...
Distress [fr. distringo, Lat., to bind fast; districtio, Med. Lat., whence distraindre, Fr.], a taking, without legal process, of a personal chattel from the possession of a wrong-doer into the hands of a party grieved, as a pledge for the redressing an injury, the performance of a duty, or the satisfaction of a demand.This remedy may be resorted to by a landlord for recovery of rent in arrear, by a rate collector or tax collector for recovery of rates or taxes, and by justices of the peace for the recovery of fines due on summary convictions.A distress may be made of common right for the rent payable by a tenant to a landlord, technically termed 'rent-service,' and by particular reservation, or under s. 121 of the (English) Law of Property Act, 1925, for rent-charges, and also for rents-seck since the (English) Landlord and Tenant Act, 1730 (4 Geo. 2, c. 28), s. 5, which extended the same remedy to rents-seck, rents of assize, and chief-rents, and thereby in effect abolished all mater...
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...