https://www.taxtmi.com/caselaws?id=106538 Shares pending allotment and debentures were held not to be "goods" under section 2(e) of the MRTP Act in the pre-1991 regime, because shares do not come into existence as property before allotment and debentures are ordinary debt instruments. The 1991 amendment enlarging the definition to include shares and stocks was treated as a substantive expansion, not a mere clarification. The Court further held that a public issue invitation for subscription of capital does not amount to sale of goods or rendition of a service, and therefore does not by itself constitute a trade practice under the Act. The Commission's view that it lacked jurisdiction was upheld. en-us Wed, 20 Nov 2002 00:00:00 +0530 Wed, 14 May 2014 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106538 Shares pending allotment and debentures were held not to be "goods" under section 2(e) of the MRTP Act in the pre-1991 regime, because shares do not come into existence as property before allotment and debentures are ordinary debt instruments. The 1991 amendment enlarging the definition to include shares and stocks was treated as a substantive expansion, not a mere clarification. The Court further held that a public issue invitation for subscription of capital does not amount to sale of goods or rendition of a service, and therefore does not by itself constitute a trade practice under the Act. The Commission's view that it lacked jurisdiction was upheld. Case-Laws Companies Law Wed, 20 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106538