Act/Law wise: Judgment of Supreme Court of Bangladesh (HCD)



Companies Act, 1913 (BD)
Section/Order/ Article/Rule/ Regulation Head Note Parties Name Reference/Citation
Section 28

There is nothing in Section 28 of the Companies Act which exempts any Company registered under above provision from making contribution to the Labor Welfare Fund:
The learned Advocate for the petitioner repeatedly submits that the GTC is a nonprofit company and registered under Section 28 of Companies Act. As such GTC is not liable to contribute 5% of the net profit to the Labor Welfare Fund. In support of above submission the learned Advocate produced the Memorandum and Articles and Association of the GTC. But there is no mention in above Memorandum that the GTC is a nonprofit company. On the contrary Article 71 of above Memorandum shows that GTC may earn profit but the profit shall be utilized for the advancement of the objectives as stated in the above Memorandum. Since the GTC is a profit earning company it is not understandable as to why the company will not contribute a very insignificant part of its net profit for the welfare of its labors. There is nothing in Section 28 of the Companies Act which exempts any Company registered under above provision from making above contribution to the Labor Welfare Fund. ...Prof. Muhammad Yunus Vs. The State, (Criminal), 17 SCOB [2023] HCD 162 ....View Full Judgment

Prof. Muhammad Yunus Vs. The State 17 SCOB [2023] HCD 162