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Section 360 in The Companies Act, 1956
360. Contracts between managing agent or associate and company for the sale ... service other than that of managing agent, unless further the contract has been approved by the Central Government. either before
Central Government Act
reference). The assessees
were appointed managing agents under a contract. Clause 2 of that
contract is as follows:
A commission ... also clear from the contract
that what the principal company contracted with the managing agents was
to pay them
Bombay High Court
more of
their body to be Managing Director or Managing Directors and/or
Executive Director for such period and upon ... modes.
"Special position of Managing Director and/or Executive Director.
100. A Managing Director or Managing Directors and/or Executive
Bombay High Court
duties
as managing agents and supervised the duties of the purchasing and
selling agents as well, lost not merely ... under which a variation of a managing agents contract was to
be approved by the shareholders at a general meeting
Madras High Court
managing
agent and any variation of managing agents' contract of management
made after the commencement of the Indian Companies (Amendment ... continuance
in force of the managing agents' appointment amounted to specific
enforcement of a contract of personal service
Bombay High Court
reference). The assessees
were appointed managing agents under a contract. Clause 2 of that
contract is as follows :-
"A commission ... also
clear from the contract that what the principal company contracted with
the managing agents was to pay them
Bombay High Court
purely a question of contract between the managing agents
and the company.
The managing agents conduct business of the company ... crystal clear, therefore, that in absence of the
contract, the managing agents, as such, cannot be treated as licensee
Patna High Court
Supreme Court of India
Chiranjit Lal Chowdhuri vs The Union Of India And Others on
Supreme Court of India
dismissed
by legislative action the managing agents also share
their fate and their contracts come to an end. Section ... Section 10 denies to the managing agents compensation for
the' premature termination of the contract of management
entered into
Supreme Court of India
which it worked as Managing Agent. On the
construction of the Managing Agency Contract it was held
that unless ... proper construction of this contract, therefore, it is
obvious that the Managing Agents were to be paid
Supreme Court of India
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