Category: Law

9 Main Duties of Liquidator in Winding Up a Company in India are given below: 1. To conduct proceedings in winding up: The liquidator shall conduct the proceedings in winding up the company and perform such duties in reference thereto as the court may impose. The acts of the liquidator shall be valid, notwithstanding any defect that may afterwards be discovered in his appointment or qualifications (Sec. 457). Image Source: 185.26.182.219 2. To submit preliminary report: ADVERTISEMENTS: Immediately on the receipt of the Statement of Affairs from the directors and within six months after the date of the winding up order, liquidator shall submit to the court a preliminary report with regard to capital issued, subscribed and paid, the estimated amount of assets and liabilities, causes of the failure of…

Short biography of Pandit Jawaharlal Nehru for kids. Pandit Jawaharlal Nehru was born on 14th November, 1889. He was born in Allahabad. Moti Lai Nehru his father was a great lawyer. His mother’s name was Swarup Rani. He was born with a silver spoon in his mouth.At the age of 15 he went to England. There he studied at Harrow School. Then he joined Cambridge University. Later he studied Law and became a lawyer. He began his practice at Allahabad High Court.He gave up his flourishing practice and joined the freedom movement under Mahatma Gandhi. He was sent to jail several times. He became very popular. He was made President of the Congress Party many times. In 1947, when India became free, he was elected the First Prime Minister. He…

(1) The auditor should examine the Articles of Association to ascertain that the issue of Bonus shares is duly authorized. If Table A has been adopted, the provisions in Regulations 96 and 97 should be carefully examined. It is to be noted that Bonus Shares can only be issued out of the premium received on issue of shares (section 78), heavy accumulated reserves, undistributed profits, capital redemption fund (section 80), etc., if such an issue is permitted by Articles. (2) He should inspect the Minute Book of Shareholders for the resolution declaring the bonus and also the Director’s Minute Book to examine the resolution under which profits have been appropriated for being applied in payment of shares to be issued and allotted as Bonus Shares in due proportions. Image Source:…

Classifications of Contracts are listed below: Classifications A. Classification according to validity: 1. Void contracts: A void contract is a contract which is not enforceable by law. As a matter of fact, a void contract is not at all a contract, as it is without any legal effect.The term void contract is defined in Sec2 (j) of the Indian Contract Act, which reads as under: “A contract which ceases to be enforceable by law becomes void when it ceases to be enforceable “. Image Source: hawaiiesquire.files.wordpress.com ADVERTISEMENTS: Thus, when a valid and enforceable contract subsequently becomes legally unenforceable due to some reasons which may be:-(i) Due to some emergent impossibility or the operation of law, contract may become void (Sec 56);(ii) Voidable contract becomes void when the concerned party uses…

The law relating to contracts by minors has been discussed as under: 1. Agreement with or by a minor is void: An agreement with or by a minor is void and inoperative ah initio [Moltri Bihi vs. Dharomdas Chose]. These agreements are considered to be nullity and non-existent in the eyes of law. These cannot be enforced against a minor. Image Source: rudnermacdonald.com 2. Minor can be a promisee or a beneficiary: In competency of a minor to enter into contract means incompetency to bind himself by a contract. There is nothing which debars him from becoming a beneficiary, e.g., a payee [SharafatAli vs. Noor Mohd.], an endorsee or a promisee in a contract. ADVERTISEMENTS: Such contracts can be enforced at his option, but not at the option of the…

Important types of Quasi Contract that Sec. 68 to 72 of the Indian Contract Act 1872 deals with are given below: Types (i) Claim for necessaries supplied to person incapable of contracting (Sec 68): If a person is incapable of entering into a contract, or anyone whom he is legally bound to support is provided by another person with necessaries suited to his condition in life, the supplier is entitled to recover the price from the property of such incapable persons. Example:X supplies the wife and children of Y, a lunatic with necessaries suitable to their conditions in life. X is entitled to be reimbursed from Y’s property Image Source: murrayfranks.com (ii) Payment by an interested person (Sec 69): A person who is interested in the payment of money which…

Patriotism means love for one’s country but it does not mean hatred for other countries. It means an instinct foe working hard and honestly for one’s own country and making any sacrifice, if need be, for its security, freedom and integrity.Today we are breathing the air of freedom because of true and great patriots like Mahatma Gandhi, Jawahar Lai Nehru, Subhas Chandra Bose, Sardar Bhagat Singh, Chandra Shekhar Azad and many others who made great sacrifices arid suffered untold miseries to achieve the goal of freedom after a long and tedious struggle while fighting Valiantly against the mighty and cruel Britishers.Guru Gobind Singh had sacrificed his near and dear ones, including his entire family, to bring freedom to us. So, patriotism is the spirit which seeks happiness through supreme sacrifice…

One basis of classifying constitution from the view point of their origin Jameson defines a written constitution as, “a work of conscious art and the result of a deliberate effort to lay down body of fundamental principle under which a government shall be organised.” In other words, when a constitution owes its origin to a deliberate are embodied in a single document, it is said to be a written constitution. For instance, the constitution of India was drafted out by the Constitution assembly of India; a body specifically assigned the task of making a constitution. Even the constitutions promulgated by kings and dictators also belong to this category. For instance, the present Constitution of Nepal was promulgated by king Mahendra. However, it is more accurate to call it an enacted…

The High Court is the highest judicial body in a State. Article 214 of the Constitution provides that there shall be a High Court for each State.Often there may be a common High Court for two or more than two States. There are 24 High Courts in the country. Three High Courts have jurisdiction over more than one State. Among the Union Territories, Delhi alone has a high court of its own.Though the High Courts are the parts of single and integrated judicial system, yet they are completely independent judicial institutions. ADVERTISEMENTS: The Supreme Court has no direct administrative control over them, nor are they in any way controlled by either the State Legislatures or the Executives. Each High Court is a Court of Record and has power of such…