Partnership Act, 1932, Section 32(3), 72 -- Partnership firm - Retiring partner - Public notice as required u/s 72 of the Act not given - Held, a retiring partner is liable for any subsequent act on behalf of the firm which would bind the firm until the public notice as prescribed by S.72 is given...........
Civil Procedure Code, 1908, Order 40, Rule 1, Partnership Act, 1932, Section 43 -- Partnership firm - Mode of dissolution of partnership firm - Clause in partnership deed showed that partnership was not at will - Notice given by plaintiff - Partner could not result in dissolution of partnership - His application for appointment of receiver liable to be dismissed - Further..........
Partnership Act, 1932, Section 16, 37, 50 -- Partnership firm - One of the partners died and the firm stood dissolved - New partnership firm constituted in which new partners introduced - Held, surviving partner is liable to render accounts till the date on which the firm stood dissolved...........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Offence is committed by the person who issues the cheque and not the person on whose behalf cheque is issued unless, however, the person on whose behalf the cheque is issued is a company or a partnership firm...........
Income Tax Act, 1961, Section 276C, 277 -- Partnership firm - Concealment of income of Rs.85,000/- - Concealment not wilful - Amount shown as capital instead of showing as income - Income tax return was filed through Income Tax Advocate who might not have advised properly - There was no intention to conceal - Order of acquittal upheld...........
Companies Act, 1956, Section 397, 398 -- Mismanagement and oppression - Grant of relief - Principle of quasi-partnership - In case of family companies corporate veil can be lifted i.e. true character of company and other relevant factors shall be considered for purpose of grant of relief...........
Companies Act, 1956, Section 397, 398 -- Oppression - Transfer of shares of company to quasi partnership company/family owned company by majority shareholders of company - Challenged as being made ignoring rights of pre-emption of other shareholders of company as postulated by Articles of Association - Notice of transfer rescinded - Entire shares of quasi-partnership..........
Insecticides Act, 1968, Section 3(k)(1) -- Insecticide - Misbranded - Partnership firm - Sanction to prosecute partnership firm given without giving the names of partners to be prosecuted - When name of persons belonging to the firm who are to be prosecuted is not given then proceedings launched against proprietor of the firm or other office bears of the firm is against..........
Haryana Urban (Control of Rent and Eviction) Act, 1973, Section 13 -- Sub-letting - Tenant entered into partnership and on dissolution of partnership gave exclusive possession to partner - Amounts to sub-letting...........
Banking service -- Banker's lien - The bank has no lien upon the deposit of a partnership for the balance due by one of the partners - in order to create a banker's lien on several accounts it is necessary that they must belong to the payer in one and in the same capacity...........
