Such a transaction only affects the status of the member or the members who have separated themselves from the rest of the coparcenary. Partition may also mean what ordinarily is understood by partition amongst co-sharers who may not be members of a Hindu coparcenary. There is yet another angle from which the issue can NRI Legal Services be viewed. The means and purposes of legislative bodies are not to be easily upset in a challenge under s.
Moreover, it is clear from both Smith and Lyons, that the test is not one which is quick to invalidate sentences crafted by legislators. 148 crores) is NRI Legal Services vitiated (i) NRI Legal Services by an irregularity inasmuch as the Company Judge failed to take note of the potential value of the land and the possibility of its fetching a higher price than Rs. I7(1)(b) of the Indian Registration Act but the former does not. 17(1) (b), because so long as there has been no partition in that sense, the interest of the separated member continues to extend over the whole joint property as before.
The latter, if reduced to writing becomes compulsorily NRI Legal Services registrable under s. But partition in the former sense of defining the shares only without specific allotments of property, has no reference to immovable property. gain was in any NRI Legal Services way oppressive or unreasonable. Where under this NRI Legal Services Act, any NRI Legal Services article is chargeable with duty at a rate dependent on the value of the article, such value shall be deemed to NRI Legal Services be ” The wholesale cash price for which an article of the like kind and quality is sold or is capable of being sold at the time of the removal of the article chargeable with duty from the factory or any other premises of manufacture or production, or if a whole the place of manufacture or production, or if a wholesale market does not exist for such article at such place, at the nearest place where such market exists, or Where such price is not ascertainable, the price at which an article of the like kind and quality is sold or is capable of being sold by the manufacturer or producer, or his agent, at the time of the removal of the article chargeable with duty from such factory or other premises for delivery at the place of manufacture or production, or if such article is not sold or is not capable of being sold at place at any other place nearest thereto.
If the document does not evidence any partition by metes and bounds, that is to say, the partition in the latter sense, it does not come within the purview of s. The change of status from a joint member of a coparcenary to a separated member having a defined share in the ancestral property, may be effected orally or it may be brought about by a document. The appeal is, accordingly, 1133 dismissed. Held, that the term providing for a period of eightyfive years was not a clog on the equity of redemption, and the mere length of the period could not by itself lead to an inference that the bar.
Applying the propositions enunciated above to the facts of the instant case, we have come to the conclusion that the courts below did not exceed their power in directing the addition of respondents I and 2 as parties-defendants in the action. Section 4, prior to its amendment in 1973, read as follows:- 4. 2013 (accepting the bid of the appellant herein of Rs. Nor can it be said that the exercise of the discretion was not sound.
For partition in the former sense, it is not necessary that all the members of the joint family should agree, because it is a matter of individual volition. The term was enforceable in law and the suit for redemption, filed before the expiry of the period was- premature. Section 11 of the IPC defines the term ˜person as under: The term ˜person used in the expression ˜any other person, appearing in Section 364A of the IPC must be understood as referring to ˜person as defined in Section 11 of the IPC.
148 crores, (ii) the bid of the appellant herein of Rs. As regards the question of costs, we direct that it will abide the ultimate result of the litigation and will be disposed of by the trial court. In view of the above-mentioned two facts, the High Court recorded the conclusion that the Company Judge s order dated 17. Under the Mitakshara School of Hindu Law partition may be either (1) a severance of the joint status of the coparcenary by mere defining of shares but without specific allotments or (2) partition by allotment of specific properties by metes and bounds according to shares.
148 crores was an inadequate price to the property in question, (iii) because of the failure of the company court to discharge its obligation (as custodian of the properties of a company in consideration) to secure the best price possible, when the assets of the company in liquidation are sold, (iv) when the facts and circumstances indicate that the property in question is in fact capable of securing a much higher price, the sale of the property at a lesser price also resulted in an injury to the interest of various stakeholders who are entitled for the distribution of the proceeds of the sale of the assets of the company in liquidation.
Furthermore, this case comes before us by special leave and we do not consider that it is a fit case where we should interfere with the exercise of discretion by the courts below.