MAHABIR BEOPAR MANDAL LTD versus FORWARD MARKET COMMISSION

MAHABIR BEOPAR MANDAL LTD versus FORWARD MARKET COMMISSION

The Forward Market Commission has the power under sections 14A and 14B and the provisions of the Forward Contract (Regulation) Act 1952 to impose conditions in respect of commodities for which business can be carried out by persons applying for registration, including recognised associations.

Parties
Appellant: Mahabir Beopar Mandal Ltd; Respondent: Forward Market Commission
Jurisdiction
India
Judgment Date
13 January 1977
Procedural Posture
Civil Appeal / Final Disposition
Outcome
appeals dismissed
Legal Topics
Powers of Forward Market Commission, Conditions on Registration Under Forward Contract (regulation) Act 1952
Regulatory Law Powers of Forward Market Commission Conditions on Registration Under Forward Contract (regulation) Act 1952

Case Brief

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Parties

Mahabir Beopar Mandal Ltd

Appellant

Forward Market Commission

Respondent

Procedural Posture

Civil Appeal / Final Disposition

Legal Issues

  1. 1 Whether Forward Market Commission can impose conditions under sections 14A and 14B on commodities for registration applicants
  2. 2 Whether section 4 of the Forward Contract (Regulation) Act confers power to impose conditions
  3. 3 Whether Commission has power to impose conditions with regard to recognised associations

Ratio Decidendi

The Forward Market Commission has the power under sections 14A and 14B and the provisions of the Forward Contract (Regulation) Act 1952 to impose conditions in respect of commodities for which business can be carried out by persons applying for registration, including recognised associations.

Court Disposition

appeals dismissed

Orders

  • appeals dismissed
  • no order as to costs