Laxmi Engineering Works v. P.S.G. Industrial Institute, II (1995) CPJ 1 (SC)

In This case after reviewing the provisions of the Act, the Supreme Court concluded that the District forums, State Commission and the National Commission are not considered “courts” even though they are vested with some authorities of the Civil Court they are precisely “quasi-judicial” bodies for rendering speedy and inexpensive redressal of disputes to the consumers. The idea of these bodies or agencies is to provide justice and fair treatment to consumers in the matters of goods and services. The scheme of “business-to-consumer” disputes helped the court in interpreting that words like “consumer” and “commercial purposes”

Case Comment-M/S. Southern Mica Products Ltd. Versus. Mr. V. Nagarjan, Pcs (2017) Scc Online Nclt 11062.

This case deals with the process by which a company can change its status. This means that the company will now need to follow all the guidelines in its Memorandum of association and Article of Association that are applicable on the Private Limited companies. This will also mean that the company would now need to roll out its share or debenture applications, if it wishes to, as per the guidelines that are applicable to Private industries. It would have to maintain the capital and assets as required by a private limited company under the Companies act, 2013.

Case Analysis- Bhagwati Developers v. Peerless General Finance and Investment Co. (2005) 69 CLA 288 (SC).

The case analyses the scope of issuing bonus shares out of the Revaluation Reserve of a firm if the Article of Association permits. It doing so it discusses with the provisions laid down under the Companies Act, on issue of Bonus Shares. As per the provisions laid down by the Companies Act, A company is authorized by law to issue fully paid-up bonus shares to its members out of Free Reserves, Securities Premium Account or Capital Redemption Reserve Account.

CASE COMMENT- Lagunas Nitrate Co v. Lagunas Syndicate, (1889) 2 Ch. 392.

This Case establishes the point that acting as the director of any corporation does not make one liable for unforeseen mistakes or mistakes made while acting in the best interest of the firm. If a person undertakes an action believing it to be in the best interests of the firm, after exercising due diligence the action cannot be recorded as misrepresentation or breach of trust.