Shareholder - Law Dictionary Search Results
Home Dictionary Name: shareholder Page: 5No cause for such refusal
No cause for such refusal, the expression 'no cause for such refusal' within the meaning of clause (4) must mean no good cause for refusal. Therefore when an application is filed by a shareholder for an order directing the company to grant conversion of partly paid-up shares into fully paid-up shares and the company sets up some cause declining to carry out the conversion the Tribunal is authorised to adjudicate whether the cause set up by the company is a cause reasonably justifying refusal to comply with the requisition, Oriental Bank of Commerce v. Harcharn Das Loomba, AIR 1963 SC 1707 (1709): (1964) 2 SCR 231. [Displaced Persons Debts Adjustment Act, 1951, s. 19(4)]...
Nemo debet esse judex in propria causa
Nemo debet esse judex in propria causa, no man shall be a judge in his own cause. This principle applies not only to judicial proceedings but also to quasi-judicial and administrative proceedings, M/s. J. Mohapatra & Co. v. State of Orissa; see also Canara Bank v. Debasis Das, AIR 2003 SC 2041 (2049): AIR 1984 SC 1572 (1575).Nemo debet esse judex in propria causa. 12 Co. 113, (No one should be judge in his own cause Canal Co., (1852) 3 HLC 759, in which the judgment of Lord Chancellor Cottenham was set aside by the House of Lords on the ground of his having been a shareholder in the defendant company....
Limited liability
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...
beneficial
beneficial 1 : providing benefits or advantages 2 : receiving or entitling one to receive an advantage, benefit, or use [a shareholder] [a estate] ben·e·fi·cial·ly [-shə-lē] adv ...
Entitle
Entitle, means 'to give a claim, right, or title to; to give a right to demand or receive, to furnish with grounds for claiming (The Law Lexicon, P. Ramanatha Aiyar, 2nd Edn., p. 642).Means entitled as between the registered shareholder and the controller of the voting power, Kilnoore Ltd. (in re:), (Ch D) Unidare Plc v. Cohen, (2006) 2 WLR 974: (2006) LR 489 (CD) (Ch): (2005) EWHC 1410 (Ch)....
record date
record date : the date on which a corporation determines the identity of its shareholders and their holdings (as for determining who is entitled to notice of a shareholder meeting or who is entitled to vote at such a meeting or to receive dividends) called also date of record ...
Directors
Directors, persons appointed or elected according to law, authorized to manage and direct the affairs of a corporation or company. The whole of the directors collectively form the board of directors. Their powers, if the company be incorporated by Act of Parliament, are derived from its special Acts and ss. 90-100 of the (English) Companies Clauses Act, 1845; if the company be incorporated under the (English) Companies Act, 1929, see ss. 139 et seq., ibid. The company is bound by all acts of the directors within the scope of their authority. They may receive a salary, but may make no personal profit from the company [see, however, Re Dover Coalfield Ltd., (1908) 1 Ch 65], nor can a pension be granted to a retiring managing director, Normandy v. Ind, Coope & Co., (1908) 1 Ch 84; but they were under no personal liability except for fraud, as to the criminal liability for which see Larceny Act, 1861 (24 & 25 Vict. c. 96), ss. 81 et seq., and DECEIT. Public companies registered after Octob...
deadlock
deadlock : a state of inaction resulting from the opposition of equally powerful uncompromising persons or factions: as a : the state of a jury unable to agree on a verdict see also allen charge b : impasse c : a state in which corporate directors are unable to perform their functions because of shareholder voting deadlock vb ...
demand
demand 1 : a formal request or call for something (as payment for a debt) esp. based on a right or made with force [a shareholder must first make a on the corporation's board of directors to act "R. C. Clark"] [a written for payment] 2 : something demanded [any s against the estate] see also claim on demand : upon presentation and request for payment vt : to ask or call for with force, authority, or by legal right : claim as due [any party may a trial by jury of any issue triable of right by a jury "Federal Rules of Civil Procedure Rule 38(b)"] de·mand·able adj ...
dissent
dissent 1 : to withhold assent or approval [unfair squeezeout transactions—the kind to which public shareholders seem most likely to "R. C. Clark"] see also appraisal NOTE: A shareholder who dissents from a proposed transaction may demand that the corporation buy his or her shares after an appraisal. 2 : to differ in opinion ;esp : to disagree with a majority opinion [three of the justices ed] compare concur dis··sent·er n n 1 : difference of opinion ;esp : a judge's disagreement with the decision of the majority 2 : dissenting opinion at opinion 3 : the judge or group of judges that dissent compare majority ...
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