Take Over - Law Dictionary Search Results
Home Dictionary Name: take overWinding-up
Winding-up, the process by which an insolvent estate is distributed, as far as it will go, amongst the persons having claims upon it. The term is most frequently applied to the winding-up of joint-stock companies.The property of a company is collected and distributed firstly in discharge of its liabilities, and secondly, among its members according to their respective rights with a view to its dissolution. If the assets are not sufficient to meet the liabilities, a company is usually wound up by the Court. In other cases the winding-up is usually voluntary and conducted by the company itself either with or without the supervision of the Court. The provisions of the (English) Companies Act, 1929, govern a winding-up in any of these three modes (s. 156). In any winding-up the members who may be called upon to contribute are ascertained and their liability determined under ss. 157-162; see CONTRIBUTORIES. Debts and claims of all kinds require to be proved and if not of certain value to be...
taking
taking 1 : a seizure of private property or a substantial deprivation of the right to its free use or enjoyment that is caused by government action and esp. by the exercise of eminent domain and for which just compensation to the owner must be given according to the Fifth Amendment to the U.S. Constitution see also inverse condemnation, physical taking, regulatory taking NOTE: A governmental action that results in a mere diminution in property value is less likely to be considered a taking than one that deprives the owner of economically viable use of the property. 2 : the wrongful acquisition of control over property (as in larceny) or a person ...
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...
Cabinet
Cabinet, is an inner body within the Council of Ministers which is responsible for formulating the policy of the Government. The Council of Ministers is collectively responsible to Lok Sabha. It is headed by the Prime Minister who determines which of the Ministers should be members of the cabinet. Only cabinet ministers have a right to attend its meetings. Minister of State attend its meetings only on a special invitation. The total number of ministers, including the Prime Minister, in the council of ministers should not exceed fifteen per cent of the total number of members of the House of the People, Practice and Procedure of Parliament, M.N. Kaul & S.L. Shakdher, 5th Edn., p. 133 [Arts. 75 and 75A, Constitution of India]In many commonwealth countries, cabinet is modelled on British pattern. In Canada, composition of cabinet is influenced by regional considerations. Australia follows the British practice of including only selected ministers in the cabinet, Practice and Procedure of P...
Requisition and acquisition
Requisition and acquisition, there are significant differences between 'requisition' and 'acquisition'. These have different legal consequences and these affect the owners concerned in different manners. The requisition is taking over of possession of the property normally for a limited period whereas the acquisition is taking over of title of the property permanently. But the State has the power both of requisition as well as acquisition, subject to one condition, i.e., the property acquired or requisitioned must be for public purpose, Jiwani Kumar Paraki v. First Land Acquisition Collector, AIR 1984 SC 1707: (1984) 4 SCC 612: (1985) 1 SCR 686....
Undertake
Undertake, means to take on oneself; to engage in; to enter upon; to take in hand; set about; attempt; as, to undertake a task or a journey; and specifically, to take upon oneself solemnly or expressly. To lay oneself under obligation or to enter into stipula-tion; to perform or to execute; to covenant; to contract. Hence, to guarantee; be surety for; promise; to accept or take over as a charge; to accept or to accept responsibility for the care of. To engage to look after or attend to, as to undertake a patient or guest. To endeavour to perform or try; to promise, engage, agree or assume an obligation, Black's Law Dictionary, 5th Edn., see also Kartar Singh Bhadana v. Hari Singh Nalwa, (2001) 4 SCC 661....
succession
succession 1 a : the order in which or the conditions under which one person after another succeeds to a property, dignity, position, title, or throne [the sequence of to the presidency] b : the right of a person or line of ancestry to succeed c : the line of ancestry having such a right 2 a : the act or process of following in order b : the act or process of one person's taking the place of another in the enjoyment of or liability for rights or duties or both 3 : the act or process by which a person becomes entitled to the property or property interest of a deceased person and esp. an intestate : the transmission of the estate of a decedent to his or her heirs, legatees, or devisees ;also : the estate of the deceased including assets and liabilities used chiefly in the civil law of Louisiana intestate succession 1 : the transmission of property or property interests of a decedent as provided by statute as distinguished from the transfer in accordance with the decedent's wi...
Carry over
Carry over, a term used in the Stock Exchange to denote the process of postponing the completion of a contract, either for the purchase or sale of stocks or shares, to a later date than that originally fixed. When this happens the buyer usually pays the seller interest on the capital involved, the seller retaining the stocks or shares till the transaction is ultimately completed. This interest is called a 'contango.' If, on the other hand, the buyer is anxious to pay for and take up to stocks or shares but the seller is unable to deliver, the buyer would not pay interest to the seller, but on the contrary exacts a payment from him, as consideration for postponing the completion of the contract. This payment is called a 'backwardation,' or shortly a 'back.'An income-tax deduction (esp. for a net operating loss) that cannot be taken entirely in a given period but may be taken in a later period (usu. the next five years), Black's Law Dictionary, 7th Edn....
assume
assume as·sumed as·sum·ing 1 : to voluntarily take upon oneself [ a risk] 2 : to take over (the debts or obligations of another) as one's own [ a mortgage] ...
Taking charge
Taking charge, means that the goods have been handed over to and accepted for carriage by the multimodal transport operator. [Multimodal Transportation of Goods Act, 1993 (28 of 1993), s. 2(s)]...
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