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The votes he casts are not his votes but are the votes of the Aluminium Ltd. 49, 194 to, the correctness of the decision in the last mentioned case, we have no doubt that the analogy is inapt, for the NRI legal services (useful source) principle of that decision can have no application to the case before us. The jury are the sole judges of the facts and it is the right of the accused to have the benefit of the verdict of the jury. The 211 High Court held that the profits for three months from the 1st January, 1946, to the 1st April, 1946, were not reserves which would attract the application of rule 2 of Schedule When a shareholder holding the majority of shares authorises an agent to vote for him in respect of the shares so held by him, the agent acquires no interest, NRI legal services (sneak a peek here) or beneficial, in the shares.
In the case of directors, who hold the majority of shares as trustees they, so far as the company is concerned, are the registered shareholders and the right to vote is vested in them, although as between them and their beneficiaries the beneficial interest is -vested in the latter. Under the terms of the deed, however, the company was not bound to pay any pension to any of the members of the staff, the payment itself and the amount payable being entirely at the discretion of the company, and the company had also the power to withdraw or modify any pension and to alter the rules relating to the granting of the pension at its will.
They are the registered holders of the shares and the votes they cast are their own votes. Kolah the learned counsel for the company, frankly conceded that the view taken by the High Court on this part of the case is not open to challenge and is correct. Bestowing our anxious consideration, we are obliged to think that when a complainant wants to take the benefit as provided under Section 302 CrPC, he has to file a written application making out a case in terms of J. The shareholder may revoke the authority of the agent at any time.
In the accounting year the company paid a further contribution of Rs. 2 lacs to the fund and claimed deduction of this amount under s. That case is entirely different from the case of directors who are only the agents of the holders of the majority of shares. Bash as agent of the Aluminium Ltd. Let us take the facts of the present case. (4) Every notification under proviso to sub-section (2) shall be laid before each House of Parliament, if it is sitting, as soon as may be after the issue of the notification, and, if it is not sitting, within seven days of its re-assembly, and the Central Government shall seek the approval of Parliament to the notification by a resolution moved within a period of fifteen days beginning with the day on which the notification is so laid before the House of the People and if Parliament makes any modification in the notification or directs that the notification should cease to have effect, the notification shall thereafter have effect only in such modified form or be of no effect, as the case may be, but without prejudice to the validity of anything previously done thereunder.
62,000 now lying in deposit in court as compensation for the loss they had suffered, without prejudice to any 371 further rights they may have against the Nawab or his estate. Therefore, the shares being always subject to his will and ordering, the controlling interest which the holder of the majority of shares has never passes to the agent. (3) After the conveyance has been executed, the appellants will be paid Rs. Even if the Sessions Judge or the I High Court would if left to themselves have arrived at a different verdict it is not competent to the Sessions Judge to make a reference nor to the High Court to accept the same and substitute their own verdict for the verdict of the jury provided the verdict was such as could be arrived at by a reasonable body of men on the facts and circumstances of the case.
As regards the second question, Mr. attends a general meeting of the respondent company he has to produce the resolution of his principals authorising him to cast the votes of his principals. In spite of the appointment of the agent the shareholder may himself appear at the meeting and cast his votes personally. In such a situation, in the eye of the law, the controlling interest remains vested in the Aluminium Ltd. We will now proceed NRI legal services (useful source) to examine the nature and terms of the contract before us and the circumstances under which it was entered into to determine whether or not the disturbing element,which is allowed to have happened here, has substantially prevented the performance of the contract as a whole.
A certain sum of money was made over to three persons who were called trustees and the deed provided that the company may make further contributions to the fund. and is at no time vested in Mr. Under article 90, when Mr. 10 (2) (xv) of the Income-tax Act as expenditure laid out wholly and exclusively for the purposes of the business: A banking company executed a deed whereby it purported to create a trust for the payment of pensions to the retiring members of its staff.
The title in the shares remains vested in the shareholder.
