District Courts, Civil Courts, Comment with reference

Jurist lit ton of Courts. Section 10 of the Companies Act provides that the Court leaving jurisdiction to deal w till matters arising under the Act is the 'High Court having jurisdiction in relation to the place at which the Registered erp office of the company concerned is situated. The Central Government Allan, however, by natal action in the Official Gazette and subject to such restrictions, litigations and conditions as it thinks fit, empower any District Court to exercise all or am- of; chi jury, icon conferred by the Act upon the High Court. in respect of companies having their Registered erp office in the Distinct.
The Section further porn ides tan junsdictiori cannot be conferred on District Courts under (i) Sec. 23. (order of im-estigation moth company's affairs), (ii) Sec. 391 ponders to sanction comprsnnise with creditors and members). (ii i Se. 3 94 power to sanction reconstmctio and amalgamation), (it,) Sec. 295 (power to acquire shares of shareholders disscnlirrg fort a scheme of reconstmction or amalgamation). Also. m respect of companies with a paid-up' capital of one laky of rupees or mores no jurisdiction foot winding up can be conferred on the District Courts.
It inlay be noted that the ordinary Civil Courts are not deprived of their jurisdiction to decide matters which can otherwise be enforced by a suit in a Civil Court under the general law For instance, a suit in respect of personal rights of shareholders, directors, etc. or a salt for compensation for misfeasance or breach of trust can raglan be entertained by a Civil Court.
THE NATURE OF A JOINT STOCK COMPANY
Q. 2. Def ins a Company. What are its main features? : (Pane. B.Com) "A Cornpone is .ten ousts action in law". Comment with reference to the characteristics of an incorltot step Company.
Ans. Literally the word company means a group of persons associated for any common object such as business, chantey, sports, and research, etc. Almost every pan reship firm ham two or more partners may, therefore, style itself a company', e.g. 'Ram Doss Gaga Doss & Company'. But this
mamas or corporations formed for purposes: of .trade or commerce. Sometimes the term 'corporation' is used for a 'company'.P
Definition. Section 3(19(i) and (ii) of the .Compares Act define a company as "a company formed and registered under this Act or am existing comet any. Au 'existing company' mea as a company formed and registered under any of the former Compares Acts."