TaxTMI 
TaxTMI 
1959 (4) TMI 33
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.... the plaintiff's claim was not taken over by the company after it was constituted, and has also a prayer in regard to costs, aS it was, the plaintiff claimed ₹ 45,000/- but actually got a decree for ₹ 22,614/-. The Court ordered costs and pleader's fee for each party in proportion to its success; as each won about half, the costs nearly, but not quite, cancelled mutually. The plaintiff-appellant cannot therefore make any grievance on this ground. 2. There is no prayer by the plaintiff in respect of the disallowed portion of his claim, nor is there any cross appeal or cross objection by the defendant-respondent in regard to the portion of the claim that has been actually allowed. This is now impossible for him to challen....
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....e only question before us. The trial court has found that the work was ordered verbally in July and August 1944. The defendant No. 1 had ordered it and at the relevant places he has been described as the "promoter" elsewhere he has been described as ''the promoter and Managing Director" but at the time of his entering into this contract, the finding is that he was the promoter; in fact, at that time there was no company or so no Managing Director of that company. 6. The judgment of the trial court is obscure at certain places but this much clearly emerges from the relevant portions of the judgment, specially paragraph No. 28, in which the defendant's version of the contract has been disbelieved. 7. It is clear t....
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....ient way of designating those who set in motion the machinery by which the Companies Act, 1948, enables them to create an incorporated company. It involves the idea of exertion for the purpose of getting up and starting a company, or what is called 'floating' it, and also the idea of some duty towards the company imposed by, or arising from, the position which the so-called promoter assumes towards it. The question whether a person is Or is not a promoter is a question o£ fact depending upon what the so-called promoter really did, and a judge in summing up to a jury is not bound to define the term. A person who as principal procures or aids in procuring the incorporation of a company is generally a promoter thereof, and he d....