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TMI Blog1965 (9) TMI 34X X X X Extracts X X X X X X X X Extracts X X X X ..... ated October 1 f 1962, was not made or signed on October I, 1962, and did not exist on October 1,1962, and that the award be set aside. The award is made by the Bengal Chamber of Commerce and Industry and bears the date October 1, 1962. The award is as follows : "That Lachminarain Kanoria Co. shall pay to Victory Jute Mills in full settlement of their claim herein, the sum of Rs. 32,875 (Rupees thirty-two thousand eight hundred and seventy-five) together with interest thereon at the rate of 6 per cent, per annum from 1st August, 1961, to the date of this award. That Lachminarain Kanoria Co. shall pay to Victory Jute Mills the costs of this arbitration which we fix at Rs. 304.50 nP. and which are to be recovered by the Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... consider expedient for or in. relation to any of the matters aforesaid or otherwise for the purpose of the company. Extracting this clause from the memorandum counsel on behalf of the petitioner contends that the company can enter into contract only in the name of the company and in no other name. Reference is made to sections 13 and 14 of the Companies Act in support of the contention that the memorandum of every company shall state the name of the company and a company can carry on business only in accordance with the provisions of the memorandum and as long as the memorandum is not changed the company must carry on business in its registered name. Counsel for the petitioner relied on the decision in King v. The Inhabitants of Haugkle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a limited company might acquire a right to protection to trade name used separately from its corporate name, although such user was in contravention of sections 41 and 42 of the Companies Act, 1862. Under those two provisions in the Companies Act, 1862, a limited company was required to paint or affix its name on the outside of every office or place in which the business was carried on and if any limited company did not paint or affix its name on the outside of every office or place in which the business was carried on and if any limited company did not paint or affix its name in the manner directed by the Act it was liable to a penalty. In that case a shop was opened under the name of American Shoe Company and that name was adopted to dist ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... name on their bills and customers' weekly books precluded from suing, contravened section 41 of the Companies Act, 1863, constituted no defence. An injunction was granted. In the case of Employers' Liability Assurance Corporation v. Sedgwick Collins Co. Ltd. [1927] AC 95, there is an observation of Lord Blanesburgh at page 119 that a limited company may acquire a right to protection of a trade name used separately from its corporate name although such user is in contravention of section 63, which requires every such company to paint or affix its name on the outside of every office or place. In Palmer's'Company Precedents, 17th edition, Part I, it is stated at page 262 that where a company purchases a goodwill of an existing busin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent case, as I have already indicated, the respondent company preferred a claim before the arbitrator as proprietor of Victory Jute Mills. I am therefore, of the opinion, that the contention of the petitioner fails. Counsel for the respondent contended that it was not open to the petitioner to raise the question that the company could not own and carry on the business of Victory Jute Mills. Reliance was placed on the decision of Arbn. Jupiter General Insurance Co. v. Corporation of Calcutta [1956] 60 CWN 721. A contention was advanced in that case that the Corporation had no power to refer any matter to arbitration in the absence of statutory provision. No such point had been taken before the arbitrator. It was said that such a point ..... X X X X Extracts X X X X X X X X Extracts X X X X
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