BBA: US bonus rules less onerous and expensive than EU laws

first_imgThursday 3 March 2011 8:09 pm Show Comments ▼ RULES regulating bonuses in the US are substantially less onerous than equivalent UK rules introduced in January, according to the British Bankers’ Association.The framework for the US rules, released by the Securities and Exchange Commission (SEC) on Wednesday, state that financial institutions must provide a description of their pay plans and explain why they will not result in a “material financial loss”. Institutions with over $50bn in assets must also defer 50 per cent of executives’ salaries over at least three years and include clawback clauses.But the rules are not nearly as detailed as those introduced by the FSA under an EU?mandate, and apply only to “executive officers”?rather than thousands of financial staff as in the UK. Irving Henry of the British Bankers’ Association, an industry group, told City A.M.: “The US rules are far less prescriptive than the EU rules. It’s a lot less bureaucratic: you don’t need an entire internal rule book. It’s less time-consuming and less costly.”The disparity will raise concerns that British firms could lose out in the fierce competition for talented recruits. whatsapp whatsapp KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comcenter_img BBA: US bonus rules less onerous and expensive than EU laws Tags: NULL Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldlast_img read more

Rugby Choir sing with JLS for Sport Relief 2012

first_imgMonday Mar 26, 2012 Rugby Choir sing with JLS for Sport Relief 2012 In a show of support for Sport Relief, 23 of Britain’s most well known Rugby stars past and present performed the song ‘Proud’ live with group JLS. They didn’t only do it on Friday night (above), but also at Twickenham before the England vs Ireland Six Nations match.“There have been many times in my life when I’ve been filled with nerves and adrenalin before a big game, but nothing compares to the terror of singing live in front of a full house at Twickenham,” said Austin Healey.Kelly Brown, Healey, Ben Kay, Brian Moore, Colin Charvis, Kyran Bracken, Mike Catt and Shane Williams were all part of the make-shirt choir, with all money donated to help Sport Relief going to help people living unimaginably tough lives, but in the UK across the world’s poorest countries.You can find out more and donate now at Posted By: rugbydump Share Send Thanks Sorry there has been an error random Related Articles 445 WEEKS AGO Steve Hansen discusses Andrew Hore incident… 446 WEEKS AGO Italy vs Australia – Live stream 446 WEEKS AGO Catch up with Ken Cowen and School of Hard… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedDoctors Stunned: She Removes Her Wrinkles With This Inexpensive TipSmart Life ReportsIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier Living30+ Everyday Items with a Secret Hidden PurposeNueey10 Types of Women You Should Never MarryNueeyShe Was the Most Beautiful Girl in the World. What She Looks Like Now is InsaneNueeyThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

Language diversity at the Southwest Regional Library

first_imgCultural differences affect students studying in US Coming soon to the Southwest Regional Library printThe Southwest Regional Library offers bilingual story time on Mondays for families who speak Spanish and English.Rita Alfaro, a youth library assistant, said the bilingual story time is based on the community the library serves.The story time consists of a few songs and activities in both languages as well as the reading of about three books.Alfaro said she reads at least one book entirely in Spanish.“Sometimes it’s kind of hard to find something that is good quality and in Spanish,” she said. “If there is an English book that is easily translatable, sometimes I’ll do that on the spot.”Alfaro often uses an English book on shapes  to teach the children shapes and colors in Spanish.The age and reading level of the children at story time vary but everyone seems to enjoy it, said Alfaro.“I’ll choose an easier level at least English-wise,” she said.Different level children’s books are available in both English and Spanish at the library but the collection isn’t as big, said Alfaro.“It’s actually hard to find publishers that will publish things in English and Spanish,” she said. “It takes a little longer to get titles. The department that orders them is doing a really good job; especially, lately we’ve been getting lots of new materials.”“The collection at each branch differs but parents can order books that are located at a different Fort Worth branch library,” said Alfaro.“All of Fort Worth libraries are connected,” she said. “If they primarily come here, but they want some Spanish books and they know the ones that they want, then they can request them online and we will send them over here.”Bilingual story time is every Monday at 4 p.m. at the Southwest Regional Library. Anyone interested in attending a story time at another branch can contact the library to check the schedule at any one of the 16 branches. Daniela Mendoza Twitter Linkedin + posts Daniela Mendoza Daniela Mendoza Linkedin Facebook Grains to grocery: One bread maker brings together farmers and artisans at locally-sourced store The changing nature of “Club Lib” Daniela Mendoza Daniela Mendoza Abortion access threatened as restrictive bills make their way through Texas Legislature Twitter Previous articleTCU suffers a letdown against Kansas State, 30-6Next articleTCU to face Georgia in the Liberty Bowl Daniela Mendoza RELATED ARTICLESMORE FROM AUTHOR ReddIt Facebook ReddIt International students’ journey to TCU Fort Worth set to elect first new mayor in 10 years Saturdaylast_img read more

‘Shale and Texas Energy’ lecture set

first_img Twitter ‘Shale and Texas Energy’ lecture set UTPB JBS Public Leadership Institute. Local NewsBusiness Pinterest Twitter WhatsApp JBS lecture logo “Shale and Texas Energy: Past and Future” is the subject of the John Ben Shepperd Public Leadership Institute Distinguished Lecture at 7 p.m. Thursday at the Wagner Noël Performing Arts Center, 1310 N. Farm to Market Road 1788.Admission is free, courtesy of Diana Davids Hinton, holder of the J. Conrad Dunagan chair of Regional and Business History at the University of Texas of the Permian Basin.The lecture will be moderated by Jacki Pick, current host of the energy-focused Dallas-based radio program.Panelists will be Amy Myers Jaffe, David M. Rubenstein Senior Fellow for Energy and the Environment at the Council on Foreign Relations; Christi Craddick, chairman of the Texas Railroad Commission, and Gary Sernovitz, managing director at Lime Rock Partners, a creative private equity investment partner that focuses on the upstream oil and gas sector.More Informationcenter_img Facebook By admin – April 24, 2018 WhatsApp Pinterest Facebook Previous articleDAILY OIL PRICE: April 24Next articleOPD searching for stolen vehicle adminlast_img read more

Vatican proposals could see North West dioceses merge

first_img Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+ 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Minister McConalogue says he is working to improve fishing quota By News Highland – March 20, 2012 Vatican proposals could see North West dioceses merge The Apostolic Visitation is expected to propose halving the number of dioceses in Ireland in a report being published in Rome today. That could conceivably see Raphoe and Derry merged, creating one diocese encompassing most of Donegal, Derry and part of Tyrone.The Vatican sent seven visitation teams to Ireland last year, following the release of the Murphy report into clerical child sex abuse.The Irish bishops are to outline their views on the findings at a press conference in Maynooth this morning.Michael Kelly, Deputy Editor of the Irish Catholic, is predicting that the report will suggest reducing the infrastructure of the church to reflect current realities…[podcast][/podcast] WhatsApp Twitter Previous articleDerry man dies in Jersey fallNext articleBuncrana Town Council to commemorate 1922 shooting which killed two young girls News Highland LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Newsx Advertscenter_img Pinterest WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this week Twitter Google+ Pinterest Facebook RELATED ARTICLESMORE FROM AUTHOR Facebook Dail hears questions over design, funding and operation of Mica redress schemelast_img read more

Dallat warns that if jobs aren’t decentralised to Ballykelly, the whole region will lose

first_img Dail to vote later on extending emergency Covid powers John Dallat By News Highland – January 13, 2015 Facebook Facebook Man arrested on suspicion of drugs and criminal property offences in Derry Homepage BannerNews Google+ WhatsApp Main Evening News, Sport and Obituaries Tuesday May 25th Twitter Twitter Pinterest Pinterest RELATED ARTICLESMORE FROM AUTHOR Google+ As fresh doubts emerge over the decentralisation of Department of Agriculture jobs to Ballykelly, an East Derry MLA is warning that the jobs may end up remaining in Belfast.The plan has proved controversial, with politicians in Strabane claiming the project should be going there, because it was next in line for such a development under criteria set down by the executive.However, John Dallat, a prominent supporter of the Ballykelly proposal, is warning that if the issue is resolved, the decentralisation plan may be cancelled, and that means the entire region will lose out…….Audio Player Up/Down Arrow keys to increase or decrease volume. Previous articleCooney appointed to Donegal BackroomNext articlePoor visibility and lightening threatening Rescue helicopter’s Tory Island mission News Highland WhatsApp Dallat warns that if jobs aren’t decentralised to Ballykelly, the whole region will lose PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal 365 additional cases of Covid-19 in Republic HSE warns of ‘widespread cancellations’ of appointments next week last_img read more

Man already in jail for sex offences appears in court on 15 more charges

first_img 75 positive cases of Covid confirmed in North Man already in jail for sex offences appears in court on 15 more charges A man already serving a prison term for a series of sex offences, appeared at Dungloe District Court today on another 15 charges.The defendant sat between a male and a female prison officer as the list of new charges was put before the court by Det Gda John Gallagher.He told Judge Paul Kelly that he arrested the man at Chapel Road, Dungloe – where the court is sited – at 10.18 a.m. Det Gallagher said he subsequently charged the man and cautioned him after each charge. When he invited a reply, he said the defendant replied ‘guilty’ to each charge.”Defence solicitor Patsy Gallagher said there was no application for bail.Judge Paul Kelly, in response to prosecuting Inspector David Kelly, ruled that the victim and the defendant be not identified.The defendant was remanded to Letterkenny District Court next Monday(July 15) on 15 counts of indecent assault against the same person who was aged between 14 and 17 between 1984 and 1987 and Judge Kelly agreed that the proceedings at that stage could heard on video if that could be arranged.It was agreed that the defendant could be excused from the Letterkenny court appearance if a video-link is not arranged after Mr Gallagher told the judge he suffered from a serious health condition.Earlier, the same court was told that a 70-year-old man charged with a series of sex offences against boys in west Donegal is still awaiting service of the book of evidence.Dungloe District Court was told today that a short adjournment was being sought to allow continued communication between the State Solicitor and defence solicitor Cormac Hartnett. Pinterest News Google+ WhatsApp Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp Google+ Previous articleUpdate – Gardai renew appeal following Churchill death, but won’t disclose PM resultsNext articleMinister accuses Donegal Deputy of “reprehensible” scaremongering in hospital debate News Highland 365 additional cases of Covid-19 in Republic center_img Facebook Twitter Twitter RELATED ARTICLESMORE FROM AUTHOR Facebook Further drop in people receiving PUP in Donegal By News Highland – July 9, 2013 Pinterest Man arrested on suspicion of drugs and criminal property offences in Derry Gardai continue to investigate Kilmacrennan firelast_img read more

25 Important Decisions On Specific Performance Of Contract

first_imgKnow the Law25 Important Decisions On Specific Performance Of Contract S Tejasri4 July 2020 10:34 PMShare This – xCase 1: Plaintiff Seeking Temporary Injunction in Specific Performance Suit Has To Show Strong Prima Facie Case on Undisputed Facts: CASE DETAILS: TITLE: Ambalal Sarabhai Enterprise Ltd vs KS Infraspace LLP and another & Haryana Containers Ltd vs KS Infraspace LLP and another (Civil Appeals No 9346, 9347, 9348-49 of 2019). FACTS: The Court was…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginCase 1: Plaintiff Seeking Temporary Injunction in Specific Performance Suit Has To Show Strong Prima Facie Case on Undisputed Facts: CASE DETAILS: TITLE: Ambalal Sarabhai Enterprise Ltd vs KS Infraspace LLP and another & Haryana Containers Ltd vs KS Infraspace LLP and another (Civil Appeals No 9346, 9347, 9348-49 of 2019). FACTS: The Court was hearing an appeal filed by defendants in a specific performance suit against the interim order passed by the trial court (and affirmed by High Court) restraining them from executing sale deed or any other documents creating charge with respect to the property. The defendants contended that there was no concluded contract for sale, and that the agreement was only in the negotiation stage. When the talks fell out, the advance amount was also refunded to the plaintiff, submitted the defendants. JUDGEMENT: The Supreme Court held that- “Chapter VII, Section 36 of the Specific Relief Act, 1963 (hereinafter referred to as ‘the Act’) provides for grant of preventive relief. Section 37 provides that temporary injunction in a suit shall be regulated by the Code of Civil Procedure. The grant of relief in a suit for specific performance is itself a discretionary remedy. A plaintiff seeking temporary injunction in a suit for specific performance will therefore have to establish a strong prima­facie case on basis of undisputed facts. The conduct of the plaintiff will also be a very relevant consideration for purposes of injunction. The discretion at this stage has to be exercised judiciously and not arbitrarily”- Ashok Bhushan & Navin Sinha. JJ Case 2: Conduct Of A Plaintiff Is Very Crucial In A Suit For Specific Performance: CASE DETAILS: TITLE: Atma Ram vs. Charanjit Singh (SLP (C) No.27598 of 2016) FACTS: The plaintiff in this case was a party to agreement for sale dated 12.10.1994. The date for performance of the contract was fixed under the agreement as 07.10.1996. After more than three years, the plaintiff filed a suit only for the relief of mandatory injunction, which he valued only at Rs.250 and paid a fixed court fee of Rs.25. On an application filed by defendant challenging the maintainability of the suit, the Trial Court held that the suit was in fact one for specific performance of an agreement of sale and that the technical objection regarding the maintainability could be overcome by directing the petitioner/plaintiff to pay the requisite court fee. Thereafter plaintiff paid the deficit court fee and the trial court chose to treat the suit as one for specific performance, which was ultimately decreed by it. This decree was later set aside by the First Appellate Court. The High Court, upholding the First Appellate Court judgment held the suit as time barred. JUDGEMENT: “A short­cut was found by the petitioner/plaintiff to retain the plaint as such, but to seek permission to pay deficit court fee, as though what was filed in the first instance was actually a suit for specific performance. Such a dubious approach should not be allowed especially in a suit for specific performance, as the relief of specific performance is discretionary under Section 20 of the Specific Relief Act, 1963”. “The conduct of a plaintiff is very crucial in a suit for specific performance. A person who issues a legal notice on 12.11.1996 claiming readiness and willingness, but who institutes a suit only on 13.10.1999 and that too only with a prayer for a mandatory injunction carrying a fixed court fee relatable only to the said relief, will not be entitled to the discretionary relief of specific performance. “- Justice NV Ramana and Justice V. Ramasubramanian. CASE 3: Delay To File Suit for Specific Performance Not A Ground To Deny Relief If It Was Filed Within Limitation Period CASE DETAILS: TITLE: R Lakshmikantham vs. Devaraji (CA No 2420 of 2018). FACTS: In this case, the date of the agreement i.e. 22.09.2002 and suit was filed on 11.02.2005. There the Madras high court dismissed the suit observing that “it has not been explained by the plaintiff as to why she should wait till 11.02.2005 to lay the suit for specific performance, after coming to know that the defendant had not responded to the notice sent by her. This would only go to show that in as much as the plaintiff had not been ready and willing to perform her part of the contract”. JUDGEMENT: “The High Court was incorrect in putting a short delay in filing the Suit against the plaintiff to state that he was not ready and willing. In India, it is well settled that the rule of equity that exists in England, does not apply, and so long as a Suit for specific performance is filed within the period of limitation, delay cannot be put against the plaintiff” -See Mademsetty Satyanarayana v. G. Yelloji Rao and others AIR 1965 Supreme Court 1405 (paragraph 7) which reads as under: “(7) Mr. Lakshmaiah cited a long catena of English decisoins to define the scope of a Court’s discretion. Before referring to them, it is necessary to know the fundamental difference between the two systems-English and Indian-qua the relief of specific performance”. – Justice R. F. Nariman, Justice Surya kant. CASE 4: Specific Performance- Illegal Agreement To Sell Can’t Be Enforced In Favor Of Plaintiff CASE DETAILS: TITLE: SMT. Narayamma & ANR. Etc. Etc. vs. SRI Govindappa & ORS. Etc. Etc (CA Nos 7630-7631 of 2019). FACTS: The issue in the suit for specific performance was whether the agreement to sell dated 15.05.1990 executed by defendant in favor of the plaintiff would be enforceable in law or not. It was found that the agreement to sell dated 15.05.1990, was clearly hit by Section 61 of the Reforms Act. On this ground, the suit was dismissed JUDGEMENT: If both the parties are equally guilty and the fraud intended by them had been carried out, the position would be that, the party raising the defence is not asking the Court’s assistance in any active manner. It has been held, that all the defence suggested is that a confederate in fraud shall not be permitted to obtain a decree from the Court because the documents of title, on which the claim is based really conveys no title at all. In the facts of the said case, it was held, that though the result thereof would be assisting the defence therein to retain their possession, for such an assistance would be purely of passive character and all that the Court would do in effect is that on the facts proved, it proposes to allow possession to rest where it lies. It has been held that, latter course appears to be less injurious to public interest than the former one. It could thus be seen that, although illegality is not pleaded by the defendant nor is relied upon by him by way of defense, yet the court itself, upon the illegality appearing upon the evidence, will take notice of it, and will dismiss the action ex turpi causa non oritur actio. It has been held, that no polluted hand shall touch the pure fountain of justice. It has further been held, that where parties are concerned in illegal agreements or other transactions, courts of equity following the rule of law as to participators in common crime will not interpose to grant any relief, acting upon the maxim in pari delicto potior est conditio defendetis et possidentis. – Justice Arun Mishra, Justice M. R. Shah. CASE 5: Plaintiff Can’t Seek Specific Performance of agreement against defendant on a cause of action on which he has claimed permanent injunction CASE DETAILS: CASE TITLE: Sucha Singh Sodhi v Baldev Raj Walia (CA No.3777 of 2018). FACTS: In this case, first suit seeking an injunction against the defendant was withdrawn with leave of the court. Later, when a suit for specific performance was filed, the defendant objected to it, invoking Order 2 Rule 2, which states that the relief of specific performance ought to have claimed along with the relief of injunction in the earlier suit, which was withdrawn. The Trial Court and the High Court found favor with the defendant on this contention. JUDGEMENT: On appeal filed by the plaintiff, a bench of Justice RK Agrawal and Justice AM Sapre, found that such a relief of specific performance could not have claimed along with the suit for injunction, for the following reasons: A plaintiff cannot claim a relief of specific performance of agreement against the defendant on a cause of action on which he has claimed a relief of permanent injunction.The cause of action to claim temporary/permanent injunction against the defendants is governed by Order 39 Rule 1 (c) of the Code which deals with the grant of an injunction. The limitation to file such suit is three years from the date of obstruction caused by the defendant to the plaintiff, On the other hand, the cause of action to file a suit for claiming specific performance of agreement arises from the date fixed for the performance or when no such date is fixed when the plaintiff has noticed that performance is refused by the defendant. The limitation to file such suit is three years from such date.when the causes of action to sue are separate, when the factual ingredients necessary to constitute the respective causes of action for both the reliefs/claims are different and lastly, when both the reliefs/claims are governed by separate articles of the Limitation Act, then, in our opinion, it is not possible to claim both the reliefs together on one cause of action. CASE 6: Relief Of Specific Performance Can Be Refused For Non Performance Of An Essential Promise In Contract: CASE DETAILS: TITLE: Surinder Kaur (D) vs. Bahadur Singh (D) (CA No. 7424­7425 of 2011) FACTS: The vendee Bahadur Singh by not paying the rent for 13 long years to the vendor Mohinder Kaur, even when he had been put in possession of the land on payment of less than 18% of the market value, caused undue hardship to her. The land was agricultural land. Bahadur Singh was cultivating the same. He must have been earning a fairly large amount from this land which measured about 9½ acres. He by not paying the rent did not act fairly JUDGEMENT: “In our opinion, he did not act in a proper manner. Equity is totally against him. In our considered view, he was not entitled to claim the discretionary relief of specific performance of the agreement having not performed his part of the contract even if that part is held to be a distinct part of the agreement to sell.” – Justice Deepak Gupta, Justice Aniruddha Bose. CASE 7: Specific Performance Decree Not To Be Rescinded Merely Because Plaintiff Deposited Balance Sale Consideration After Appeal: CASE DETAILS: TITLE: Surinder Pal Soni vs. Sohan Lal (Special Leave Petition (C) No 26508 of 2018) FACTS: The plaintiff deposited the balance sale consideration soon after the appeal against the trial court decree was dismissed by the High Court. The defendant objected to the execution on the ground that the deposit by plaintiff was belated as the trial court had directed the execution of sale deed within two months. The plaintiff pointed out that the appeal against trial court judgment was pending in the High Court for three years, and it was dismissed only in 2015. The execution court rejected the objections of the defendant. Against this, the defendant filed revision in the High Court, The High Court allowed the revision, Aggrieved, the plaintiff approach the Supreme Court. JUDGEMENT: “In the present case, once the Appellate Court confirmed the judgment and decree of the Trial Court, there was evidently a merger of the judgment of the Trial Court with the decision of the Appellate Court. Once the Appellate Court renders its judgment, it is the decree of the Appellate Court which becomes executable. Hence, the entitlement of the decree holder to execute the decree of the Appellate Court cannot be defeated”. The SC added that the HC could not have modified the decree in a civil revision petition arising out of execution proceedings. “The High Court impermissibly substituted the decree for specific performance with an order for refund of the sale consideration, beyond the earnest money of Rs. 2, 00,000/- to the decree holder. The reasons which weighed with the High Court in doing so as well as its ultimate directions are unsustainable. In a Civil Revision arising out of an execution proceeding, the High Court has modified the decree. Such a course was not open in law”. CASE 8: Sec.14(3)(c) Specific Relief Act Does Not Bar Developer From Seeking Specific Performance Of Development Agreement : CASE DETAILS: TITLE: Sushil Kumar Agarwal vs Meenakshi Sadhu and others (CA No. 1129 OF 2012). FACTS: The appellant before the Supreme Court was a developer, who had entered into a development agreement with the respondent to make constructions in the respondent’s plot. On disputes arising between them, the appellant instituted suit for specific performance of the agreement. However, the suit was dismissed by the trial court on ground that Section 14(3)(c) of the Specific Relief Act barred such suit. The Calcutta High Court upheld the dismissal in appeal, and the matter reached the Supreme Court at the instance of the developer. JUDGEMENT: The SC observed that “If the rule of literal interpretation is adopted to interpret Section 14(3)(c)(iii), it would lead to a situation where a suit for specific performance can only be instituted at the behest of the owner against a developer, denying the benefit of the provision to the developer despite an interest in the property having been created”. By giving a purposive interpretation to Section 14(3)(c)(iii), the anomaly and absurdity created by the third condition will have no applicability in a situation where the developer who has an interest in the property, brings a suit for specific performance against the owner. The developer will have to satisfy the two conditions laid out in sub clause (i) and (ii) of Section 14(3)(c), for the suit for specific performance to be maintainable against the owner. This will ensure that both owners and developers can avail of the remedy of specific performance under the Act. A suit for specific performance filed by the developer would then be maintainable. Whether specific performance should in the facts of a case be granted is a separate matter, bearing on the discretion of the court”. – Justice Chandrachud. CASE 9: Suit For Specific Performance: Plaintiff Has To Prove And Establish His Readiness And Willingness To Perform His Part Of Contract Throughout:CASE DETAILS: TITLE: Vijay Kumar vs. Om Prakash (CA No 10191 OF 2018). FACTS: The trial court, in this case, had dismissed the suit for specific performance holding that the plaintiff failed to prove his readiness and willingness to perform the contract. The first appellate court allowed the appeal and decreed the suit, which the high court upheld. JUDGEMENT: “In order to obtain a decree for specific performance, the plaintiff has to prove his readiness and willingness to perform his part of the contract and the readiness and willingness has to be shown throughout and has to be established by the plaintiff, As rightly pointed out by the Trial Court, the respondent-plaintiff could not produce any document to show that he had the amount of Rs.22,00,000 (Rupees Twenty Two Lakhs) with him on the relevant date; nor was he able to name the friends from whom he raised money or was able to raise the money. Furthermore, as rightly pointed out by the Trial Court, the respondent-plaintiff could have placed on record his Accounts Book, Pass Book or the Statement of Accounts or any other negotiable instrument to establish that he had the money with him at the relevant point of time to perform his part of the contract.”- Justice R. Bhanumathi. CASE 10: Plaintiff Can Implead Proposed Purchasers Of Property In Suit For Specific Performance: CASE DETAILS: TITLE: Robin Ramjibhai Patel vs. Anandibai Rama FACTS: In the instant case, the plaintiff had filed a suit for the specific performance of an agreement for sale of property. His application to implead the proposed purchasers having registered agreement of sale in their favour as defendants was rejected by the trial court and the order was confirmed by the high court. An appeal was made to Apex court. JUDGEMENT: When the plaintiff wants to implead certain persons as defendants in a suit for specific performance on the ground that they may be adversely affected by the outcome of the suit, then interest of justice also requires allowing such a prayer for impleadment so that the persons likely to be affected are aware of the proceedings and may take appropriate defence as suited to their vendors, the necessary parties in a suit for specific performance of a contract for sale are not only parties to the contract or their legal representatives, but also a person who had purchased the contracted property from the vendor.- Justice Shiva Kirti Singh and Justice R Banumathi. CASE 11: Arbitration Award fixing price of land cant be executed like a decree for specific performance of sale agreement: CASE DETAILS: TITLE: Firm Rajasthan Udyog & ors vs Hindustan Engineering & Industries Ltd. (CIVIL APPEAL NO. 2376 OF 2020) JUDGEMENT: Applying the principle that an executing Court cannot travel beyond the relief granted in a decree, the Supreme Court held that an arbitration award fixing the price of the land cannot be executed like a decree for specific performance of sale agreement, when the reference to arbitrator was only for determining the compensation under the sale agreement. Although, in the present case, the Award did not relate to right, title or interest in an immovable property and was only for determination of the price of land, yet if the execution court was to treat the same for execution of sale deed of land (immovable property), it ought to have considered the impact of non-registration of such Award, which has not been done in the present case – Justices Uday Umesh Lalit & Vineet Saran CASE 12: [Specific Performance] Plaintiff Has To Prove That He Has Means To Generate Consideration Amount CASE DETAILS: TITLE: C.S. VENKATESH vs. A.S.C. MURTHY (D) (CIVIL APPEAL NO. 8425 OF 2009) JUDGEMENT: Taking note of the evidence on record, the bench said that there is absolutely no evidence to show that the plaintiff has the means to make arrangements for payment of consideration under the re conveyance agreement. Mere plea that he is ready to pay the consideration, without any material to substantiate this plea, cannot be accepted. It is not necessary for the plaintiff to produce ready money, but it is mandatory on his part to prove that he has the means to generate the consideration amount. – Justices Abdul Nazeer and Deepak Gupta. CASE 13: Specific Performance: Self-Serving Statements On Income Without Any Proof Of Financial Resources Won’t Suffice To Prove Readiness & WillingnessCASE DETAILS: TITLE: Ritu Saxena v. J.S. Grover (CIVIL APPEAL NOS. 7268-7269 OF 2019)JUDGEMENT: Self-serving statements on income without any proof of financial resources is not sufficient to prove that plaintiff in a suit for specific performance was ready and willing to perform her part of the contract. Such self-serving statements without any proof of financial resources cannot be relied upon to return a finding that the appellant was ready and willing to perform her part of the contract. The appellant has not produced any income tax record or the bank statement in support of her plea of financial capacity so as to be ready and willing to perform the contract. Therefore, mere fact that the bank has assessed the financial capacity of the appellant while granting loan earlier in respect of another property is not sufficient to discharge of proof of financial capacity in the facts of the present case to hold that the appellant was ready and willing to perform her part of the contract- Justice L. Nageswara Rao and Justice Hemant Gupta CASE 14: Specific Performance: Plea Of Hardship Cannot Be Raised If Not Pleaded In Written Statement: CASE DETAILS: TITLE: Beemaneni Maha Lakshmi vs. Gangumalla Appa Rao JUDGEMENT: The vendor sought to raise the plea of hardship for the first time before this Court and this Court did not permit the vendor to raise such a plea of hardship by observing that as no plea as to hardship if relief for specific performance is granted was raised by the defendant – vendor in written statement nor any issue was framed that the plaintiff – purchaser could be compensated in terms of the money in lieu of decree for specific performance, such plea cannot be entertained for the first time in appeal by way of SLP, more so, when there are concurrent findings that the plaintiff was ready and willing to perform his part of the contract has been recorded by the lower courts. Therefore, the plea raised on behalf of the vendor on hardship cannot be permitted to be raised now, more particularly when no such plea was raised/taken in the written statement- Justice L. Nageswara Rao and Justice MR Shah. CASE 15: SC Explains Five Material Questions To Be Answered In Specific Performance Suit CASE DETAILS: TITLE: Kamal Kumar vs. Premlata Joshi (Civil Appeal No : 4453/2009) JUDGEMENT: Reiterating that the grant of relief of specific performance is a discretionary and equitable relief, the bench listed out the requirements to be answered in a specific performance suit. Those are: 1. Whether there exists a valid and concluded contract between the parties for sale/purchase of the suit property? 2. Whether the plaintiff has been ready and willing to perform his part of contract and whether he is still ready and willing to perform his part as mentioned in the contract? 3. Whether the plaintiff has, in fact, performed his part of the contract and, if so, how and to what extent and in what manner he has performed and whether such performance was in conformity with the terms of the contract? 4. Whether it will be equitable to grant the relief of specific performance to the plaintiff against the defendant in relation to suit property or it will cause any kind of hardship to the defendant and, if so, how and in what manner and the extent if such relief is eventually granted to the plaintiff? 5. Whether the plaintiff is entitled to grant of any other alternative relief, namely, refund of earnest money etc. and, if so, on what grounds? CASE 16: Relief of specific performance of agreement cannot be denied on ground of efflux of time and escalation of price of property CASE DETAILS: TITLE: Satya Jain v. Anis Ahmed Rushdie, (2013) 8 SCC 131 JUDGEMENT: Relief of specific performance of agreement cannot be denied on ground of efflux of time and escalation of price of property meanwhile – However, in order to balance both the issues, based on plaintiff’s offer Supreme Court awarded additional compensation to vendor by granting market value than what had been stipulated in agreement. CASE 17: While exercising discretion in suits for specific performance, Court should bear in mind that when the parties prescribe a time/period, for taking certain steps or for completion of the transaction, that must have relevance CASE DETAILS: TITLE: Saradamani Kandappan and Ors. vs. S. Rajalakshmi and Ors. (04.07.2011 – SC) JUDGEMENT: Courts, while exercising discretion in suits for specific performance, should bear in mind that when the parties prescribe a time/period, for taking certain steps or for completion of the transaction, that must have some significance and therefore time/period prescribed cannot be ignored. Every suit for specific performance need not be decreed merely because it is filed within the period of limitation by ignoring the time-limits stipulated in the agreement. Courts will also ‘frown’ upon suits which are not filed immediately after the breach/refusal. The fact that limitation is three years does not mean a purchaser can wait for 1 or 2 years to file a suit and obtain specific performance. The three year period is intended to assist purchasers in special cases, as for example, where the major part of the consideration has been paid to the vendor and possession has been delivered in part performance, where equity shifts in favour of the purchaser – Justice R.V Raveendran. CASE 18: Specific performance of contract by Minor Not enforceable: CASE DETAILS: TITLE: Sri Kakulam Subrahmanyam and another vs. Kurra Subba Rao, AIR 1948 PC 95 JUDGEMENT: A minor’s agreement being now decided to be void, it is clear that there is no agreement to be specifically enforced; and it is unnecessary to refer to former decisions and distinctions, following English authorities which were applicable only on the view now overruled by the Privy Council. CASE 19: Suit for specific performance of contract by one of joint promises is maintainable: CASE DETAILS: TITLE: Smt. Nirmala Bala Dasi and Anr. Vs. Sudarsan Jana and Ors ,AIR 1980 Cal258 JUDGEMENT: It has long been recognized that one or more of several persons jointly interested can bring an action in respect of joint property and if their right to sue is challenged can amend by joining their co-contractors as plaintiffs if they will consent or as co-defendants if they will not, Once all the parties are before the Court, it can make the appropriate order and should give judgment in favour of all the persons interested whether they be joined as plaintiffs or defendants. CASE 20: An amendment application shall be permitted relating to compensation in a suit for specific performance: CASE DETAILS: TITLE: Jagdish Singh vs Nathu Singh, AIR 1992 SC 1604: JUDGEMENT: Where an amendment relates to relief of compensation in lieu of or in addition to specific performance where the plaintiff has not abandoned his relief of specific performance the Court will allow the amendment at any stage of the proceeding. CASE 21: A purchaser from a co-parcener can enforce specific performance of his contract against the other co-parceners: CASE DETAILS: TITLE: T. Rangayya Reddy vs V.S. Subramanya Aiyar and Ors JUDGEMENT: That a purchaser from a co-parcener can enforce specific performance of his contract against the other co-parceners, which is undoubtedly covered by the terms of the section 15 of the Specific relief Act. CASE 22: Even if there is no provision in the contract for specific performance, the court can direct specific performance by the vendor: CASE DETAILS: TITLE: Man Kaur (dead) by LRS. Vs. Hartar Singh Sangha, (2010)10 SCC512 JUDGEMENT: Even if there is no provision in the contract for specific performance, the court can direct specific performance by the vendor, if breach is established. But the court has the option, as per Section 21 of the Act, to award damages, if it comes to the conclusion that it is not a fit case for granting specific performance. CASE 23: Court can direct that specific performance of contract is subject to sanction by statutory authorities CASE DETAILS: TITLE: Nandkishore Lalbhai Mehta vs. New Era Fabrics Pvt. Ltd. and Ors. (08.07.2015 – SC) JUDGEMENT: Section 20 of the Specific Relief Act confers a discretionary jurisdiction upon the courts. Undoubtedly such a jurisdiction cannot be refused to be exercised on whims and caprice; but when with passage of time, the contract becomes frustrated or in some cases increase in the price of land takes place, the same being relevant factors can be taken into consideration for the said purpose. While refusing to exercise their jurisdiction, the courts are not precluded from taking into consideration the subsequent events. Only because the Plaintiff-Respondents are ready and willing to perform their part of contract and even assuming that the Defendant was not entirely vigilant in protecting his rights in the proceedings before the competent authority under the 1976 Act, the same by itself would not mean that a decree for specific performance of contract would automatically be granted. While considering the question as to whether the discretionary jurisdiction should be exercised or not, the orders of a competent authority must also be taken into consideration. While the court upon passing a decree for specific performance of contract is entitled to direct that the same shall be subject to the grant of sanction by the authority concerned. CASE 24: Merely because an agreement mentions a particular sum payable by the defaulting party to the other, that shall not be a ground for refusing the specific performance K.S. Vidyanadam And Ors vs Vairavan on 6 February, 1997 Section 23 says that merely because an agreement mentions a particular sum payable by the defaulting party to the other, that shall not be a ground for refusing the specific performance., in India mere delay without such conduct on the part of the plaintiff as would cause prejudice to the defendant does not empower a court to refuse such a relief…. It is not possible or desirable to lay down the circumstances under which a court can exercise its discretion against the plaintiff. But they must be such that the representation by or the conduct or neglect of the plaintiff is directly responsible in inducing the defendants to change his position to his prejudice or such as to bring about a situation when it would be inequitable to give him such a relief. – Justice Subba Rao. CASE 25: Defendant cannot take advantage of his own wrong and then plead that decree for specific performance would be an unfair advantage to the plaintiff: P. D’Souza vs Shondrilo Naidu on 28 July, 2004: The appellant has always been ready and willing to perform her part of the contract at all stages. She has not taken any advantage. Of other own wrong. The appellant is in no way responsible for the delay at any stage of the proceeding. It is the respondents who have always been and are trying to wriggle out of the contract. The respondents cannot take advantage of their own wrong and then plead that the grant of decree of specific performance would amount to an unfair advantage to the appellant (The author is a student of ICFAI School of Law, Hyderabad and may be reached at [email protected]) Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Respected SW estate agent dies after short illness

first_imgEstate agent Anthony Gregson, former partner at Weymouth firm Hull Gregson & Hull, has died aged 81, after a short illness.The well-known agent and community stalwart was born in Bury and moved to the south coast town in his late teens.After spending three years at RAF Gutersloh in Germany air traffic control, Anthony started work at Rebbeck Bros estate agency in Bournemouth, where he trained for four years.He then joined Hull Gregson & Hull – at that time RE Hull – and became a partner in 1968, when the name of the firm changed.Tributes have been paid by former colleagues and friends including Mark Bonnett (left), a director at Hull Gregson & Hull, who says: “I started working for Tony in 1983 and he was great to work for.“He was like a second father and we will miss him terribly. He had a wealth of knowledge and will be missed by the whole town.”Anthony was a big part of the community, taking a role in the Rotary Club of Weymouth, the Catenian Association and Weymouth Round Table, where he arranged for the Red Arrows to visit Weymouth for the first time.gregson hull gregson anthony gregson September 1, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » Respected SW estate agent dies after short illness previous nextAgencies & PeopleRespected SW estate agent dies after short illnessWeymouth businessman Anthony Gregson was a pillar of the local community and his profile is still listed proudly on his company’s website.Nigel Lewis1st September 20200634 Viewslast_img read more

Sri Lankan Navy Assists in Repatriation of 22 Indian Fishermen

first_img View post tag: News by topic March 1, 2012 View post tag: Fishermen View post tag: Indian View post tag: Repatriation Back to overview,Home naval-today Sri Lankan Navy Assists in Repatriation of 22 Indian Fishermen View post tag: Navy View post tag: $22 View post tag: Lankan View post tag: Naval Sri Lankan Navy Assists in Repatriation of 22 Indian Fishermen View post tag: Assists Sri Lanka Navy assisted in the repatriation of 22 Indian fishermen who were released from Sri Lankan custody.The released fishermen and 05 Indian fishing trawlers bearing the registration numbers TN/10/MFB/769, TN/10/MFB/277, TN/10/MFB/173, TN/10/MFB/1012 and TN/10/MFB/223 were handed over to Indian Coast Guard Ship Gangadevi in the seas off Thalaimannar on 29th February 2012.Sri Lanka Naval vessels P 497 and P 432 assisted the mission.[mappress]Naval Today Staff , March 01, 2012; Image: navy View post tag: Sri Share this articlelast_img read more