Certainly, the concept of a company as a juristic person, also known as a legal person or legal entity, is a fundamental principle in corporate law. It means that a company is treated as a distinct entity separate from its individual members (shareholders or owners). This principle has several key implications: 1. Separate Legal Existence: A company, once incorporated, is recognized as having its own separate legal existence. It can enter into contracts, own property, sue and be sued, and engage in various legal activities in its own name. This is distinct from the individuals who own or manage the company. 2. Limited Liability: One of the primary advantages of forming a company, especially a corporation, is the concept of limited liability. Shareholders are generally not personally liable for the company's debts and legal obligations. The company itself is responsible for its own debts, which helps protect the personal assets of its members. 3. Rights and Duties: Just like...
A bench of Justice Anish Dayal was hearing a plea seeking quashing of the order passed by the Metropolitan Magistrate, Dwarka Court, New Delhi. In this case, the petitioner, who is a first year law student, had instructions from Ms. Chandni, an advocate, to appear before the court in two cases to take adjournments. When she appeared before the Metropolitan Magistrate and was asked some questions about the matter, she remained silent as she was only directed to take an adjournment and was not aware of the matter. Further, it is alleged by the petitioner that she is a Hindi medium student and has no knowledge of technical legal terminologies and therefore, could not understand what the Metropolitan Magistrate was asking. The Metropolitan Magistrate by order dated 20th August, 2022 took cognizance under Section 177/179 IPC against the petitioner. An FIR was registered against him under section 419/209 of IPC. 177. Furnishing false information. —Whoever, being legally bound to furnish info...