Interest - Law Dictionary Search Results
Home Dictionary Name: interest Page: 3Public interest
Public interest, means an act beneficial to the general public. It means action necessarily taken for public purpose, Babu Ram Verma v. State of Uttar Pradesh, (1971) All LJ 653: (1971) Serv LR 649: (1971) 2 Lab LJ 235: (1971) Lab IC 1162 (All).Means of concern or advantage to people as a whole, T.M.A. Pai Foundation v. State of Karnataka, (2002) 8 SCC 481.Means retention of honest and efficient employees and weeding of inefficient and dishonest, Indira Saxena v. Municipal Council, 1995 Jab LJ 28.Means those interests which concern the public at large, Law Lexicon, 2nd Edn., Reprint 2000, at p. 1557). See also T.M.A. Pai Foundation v. State of Karnataka, (2002) 8 SCC 481.Refers to cases where the interests of public adminis-tration require the retirement of a government servant who with the passage of years has pre-maturely ceased to possess the standard of efficiency, competence and utility called for by the government service to which he belongs. No stigmas or implication of misbehav...
Same interest
Same interest, the expression same interest is not a distinct interest even though arising out of or taken away by the same act or transaction, AIR 1980 J&K 50 (52). (Civil PC, 1908, O. 1, R. 8)...
Security interest
Security interest, means right, title and interest of any kind whatsoever upon property, created in favour of any secured creditor and includes an mortgage, charge, hypothecation, assignment other than those specified in s. 31. [Securitisation and Reconstruction of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (zf)]...
Successor-in-interest
Successor-in-interest, 'successor-in-interest' the relevant facts to be taken into account in determining this question was explained by Gajendragadkar, J. in the following words: Did the purchaser purchase the whole of the business? Was the business purchased a going concern at the time of the sale transaction? Is the business purchased carried on at the same place as before? Is the business carried on without a substantial break in time? Is the business carried on by the purchaser the same or similar to the business in the hands of the vendor? If there has been break in the continuity of the business, what is the nature of the break and what were the reasons responsible for it? What is the length of the break? Has goodwill been purchased? Is the purchase only of some parts and the purchaser having purchased the said parts purchased some other new parts and started a business of his own which is not the same as the old business but is similar to it? These and all other relevant factor...
Current rate of interest
Current rate of interest, means the highest of the maximum rates at which interest maybe paid on different classes of deposits (other than those maintained in savings account or those maintained by charitable or religious institutions) by different classes of scheduled banks in accordance with the directions given or issued to banking companies generally by the Reserve Bank of India under the Banking Regulation Act, 1949. [The Interest Act, 1978 (14of 1978), s. 2 (b)...
Compensation and interest
Compensation and interest, The Legislature being well aware of the distinction between compensation and interest thereon employed clear language which leaves no room for doubt that under sub-s. (2) interest was payable in its well-known and well-understood sense and it could never form a part of the compensation money, Chandroji Rao v. Commissioner of Income-tax, (1970) 2 SCC 1582 (1584): AIR 1970 SC 1582: (1971) 1 SCR 422. [Madhya Bharat Abolition of Jagir Act (28 of 1951), s. 8(2)]...
mortgage interest deduction
mortgage interest deduction the interest cost of a mortgage, which is a tax - deductible expense. The interest reduces the taxable income of taxpayers. Source: U.S. Department of Housing and Urban Development ...
expectancy interest
expectancy interest : expectation interest at interest ...
Interesting
Engaging the attention exciting or adapted to excite interest curiosity or emotion as an interesting story interesting news...
Reversionary Interests of Married Women in Personalty
Reversionary Interests of Married Women in Personalty. See (English) Married Women's Reversionary Interests Act, 1857 ('Malins's Act'), 20 & 21 Vict. c. 57, enabling married women to dispose of such interests; Conveyancing Act, 1911 (1 & 2 Geo.5, c. 37), s. 7, and Law of Property Act, 1925, s. 167, abolishing acknowledgments by married women....
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