tag:blogger.com,1999:blog-3202774368551476669.post725788134006520974..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: The Scope of the Jurisdiction to Grant Relief against a Penalty ClauseUmakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3202774368551476669.post-41974231855726910442013-04-28T07:25:07.937+05:302013-04-28T07:25:07.937+05:30Add-on
Going by one's limited knowledge /unde...Add-on<br /><br />Going by one's limited knowledge /understanding,the concept of 'equity' is simply as old as the 'common law'; in a manner of speaking,equity itself is a common law doctrine, not separate or identifiable by any clear line of demarcation.should that be so,some of the observations made wprt the Australian case law will require a further study in proper light and with due focus.<br /><br />In the public domain, one finds any number of useful material; for instance,- @http://www.britannica.com/EBchecked/topic/128386/common-law/40227/Bracton-and-the-influence-of-Roman-law#toc40229 vswaminoreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-52599026686951606772013-04-28T06:49:06.205+05:302013-04-28T06:49:06.205+05:30Second Para -which is the third of the 3 classes r...Second Para -which is the third of the 3 classes referred to ?- unless 'interest' spoken of under 'honour fee'is a class by itself?<br />In this context, one remembers to have come across instances in which an overdraft facility-which is normally granted for 'working capital', also on the condition that all business receipts /collections should routed through the same overdraft account-being misused. Say,used for an extraneous or unauthorized purpose- e.g. investment in tax free bonds; despite banks being supposed to keep monitoring closely such accounts.What the law/case law says, or practice is ?- in other words,the consequence will be a mere 'penalty' or withdrawal of the facility itself?<br />A closer study of such intricate facets by law experts may be worth an attempt!<br /><br /> vswaminoreply@blogger.com