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Section 34 of the DRT Act, 1993 (short for ‘Recovery Of Debts Due To Banks and Financial Institutions Act, 1993’) provides that “the Act to have overriding effect”. Similarly, Section 35 of the Securitisation Act, 2002 (short for ‘The Securitisation and Reconstruction Of Financial Assets and Enforcement Of Security Interest Act, 2002’) provides that “the provisions of this Act to override other laws”. However, on the contrary, Section 37 of the Securitisation Act, 2002 provides that “the application of other laws not barred”. Now, let us consider in detail as to how and when does the “overriding effect” operate.
Kindly give opinion whether the jurisdiction of civil court is not excluded and the DRT does not have power to decide tenancy and ownership issues? (This has become necessary to convince the Civil Court, before whom a suit is to be filed by the Owner of a Property, whose assets have been attached and auctioned, treating that tenant (borrower) is holding ownership/transferable tenancy rights)
Not considering the Law laid down by Supreme Court will amount to an error apparent on face of record [2004(2) MPLJ 492 (498 para 10)] and is a ground for Review. The term ‘Sufficient reason’ is wide enough to include a misconception of fact or law by a court [AIR 2005 Supreme Court 592 (605-para 88-90)]. The objective of Review is to do away with quickly the Injustice which may be necessitated by way of invoking the doctrine “actus curie neminem gravabit’
It is settled law that, matters involving moral questions or questions of public law are not resolved by arbitration. For instance, the following matters are not referred to arbitration: * Matrimonial matters, like divorce or maintenance; * Insolvency matters, like declaring a person as an insolvent; * Criminal offences; * Dissolution or winding up of a company.
Attention is invited to Guidelines on Insurance Repositories and Electronic Issuance of Insurance policies issued by IRDA vide Ref No.IRDA/ADMN/GDL/GLD/080/04/2011 on 29th April, 2011. In accordance to Clause 5 (2) of the guidelines, Applications are called for from the companies that conform the eligibility criteria laid down in the said guidelines.
IRDA requests for Proposal from reputed IT firms / Organizations for the development and implementation of Integrated Surveyor Licensing Management System (ISLMS), maintenance and hosting the same. For details, please visit http://www.irda.gov.in. Last date for receipt of application for technical bid is 7th May 2011 by 3.00 PM
Sec 2 (j) of the Industrial Disputes Act has defined the term industry means any systematic activity carried on by co-operation between an employer and his workmen (whether such workmen are employed by such employer directly or by or through any agency, including a contractor) for the production, supply or distribution of goods or services with a view to satisfy human wants or wishes (not being wants or wishes which are merely spiritual or religious in nature), whether or not, –
CONSULTING ENGINEERING SERVICES (INDIA) PVT. LTD.Vs.THE CHAIRMAN, ESI CORPORATION & ORS (DELHI HIGH COURT) -The present appeal filed under Section 82 of the Employees‟ State Insurance Act, 1948 is directed against the judgment and order FAO 124/2002 15.02.2002 passed by the learned Senior Civil Judge, ESI Court, Delhi in ESI Petition No.19/99, whereby it was held that the appellant is covered by the Employees State Insurance Act, 1948 (hereinafter referred to as “the Act”) and is not entitled to the relief claimed by it in the petition filed under Section 75 of the Act.
The Bombay High Court in Road Transport Corpn Vs. Kirloskar Bros Ltd (AIR 1981 Bom 299) has said that it is for the carrier to plead and prove that the print on the receipt was brought to the notice of the consignor and that he had agreed to and accepted the same. The Court held that it is necessary that serious terms of a contract must be specifically brought to the notice of the parties whose rights are sought to be curtailed. In Oriental Fire and General Ins Co Vs. New Suraj Transport Co (AIR 1985 All 136) the consignment note was not even signed by the booking party or his agent, the Allahabad High Court held that the consignor was not bound by a printed term about the exclusive jurisdiction. THE COURT SAID THAT SOMETHING MORE MUST BE DONE THAN MERELY PRINTING THE TERMS ON CONSIGNMENT DOCUMENTS.
A division bench of Delhi High Court in J B Exports Ltd and another vs. BSES Rajdhani Power Ltd (2006 134 Comp cas 106 Del. decided on 3.3.2006) observed that the concept that a company is a distinct legal entity apart from its shareholders, vide Salomon vs. Salomon & Co. (1897 AC 22 HL) had a historical purpose. Its main purpose was to encourage entrepreneurs to start new business ventures and, thus, help in the process of industrialisation.” This background is so important that it merits consideration in detail as follows.
