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Standard Chartered Bank (Uganda) Ltd v The New Vision Printing & Publishing Corporation (Companies Cause No. 2 of 2006) [2006] UGHC 70 (15 May 2006)
- Citation
- [2006] UGHC 70
- Status
- Judgment
- Jurisdiction
- Uganda
- Court
- High Court of Uganda
- Posture
- Companies Cause / Ruling on Application for Extension of Time
- Case number
- Companies Cause No. 2 of 2006
- Language
- English
More details
- Court
- High Court of Uganda
- Posture
- Companies Cause / Ruling on Application for Extension of Time
- Case number
- Companies Cause No. 2 of 2006
- Language
- English
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
The court found that the failure to register Company Form 4 was due to inadvertence and not willful neglect. Granting an extension of time would not cause injustice to the company, and registration would ensure that the agreement between the company and the applicant bank is properly secured under the law. The court exercised its discretion to allow the extension, emphasizing that statutory compliance serves the interests of justice and commercial certainty.
Court disposition
application allowed
Orders
- The applicant bank is granted an extension of time to register Company Form 4 within 15 days from the date of this order.
- The applicant is to bear the costs of this application.
02
Material facts
Parties
Standard Chartered Bank (Uganda) Limited
Applicant Counsel: John MageziThe New Vision Printing and Publishing Corporation
Respondent03
Procedural history
Posture
Companies Cause / Ruling on Application for Extension of Time
04
Questions and positions
Legal issues
Whether the applicant should be granted an extension of time to register Company Form 4 in respect of a debenture/mortgage executed by the company in favour of the applicant bank.
Party arguments
- Applicant
- The applicant bank argued that due to inadvertence, Company Form 4 was not registered with the Registrar of Companies despite the mortgage and debenture being duly executed and registered. The applicant sought the court's discretion to extend time for registration to ensure the security is properly perfected under the law.
- Respondent
- The respondent did not file an affidavit in opposition or contest the application. No arguments were advanced against the application.
05
Court’s reasoning
Legal principles
- 01
Section 102, Companies Act; Order 34A Rule 6, Civil Procedure Rules
The court has discretion under Section 102 of the Companies Act and Order 34A Rule 6 of the Civil Procedure Rules to extend time for registration of company charges where justified.
- 02
Companies Act
Registration of company charges is necessary to secure the interests of the parties and ensure compliance with statutory requirements.
06
Ratio, limits and disposition
Ratio decidendi
The court found that the failure to register Company Form 4 was due to inadvertence and not willful neglect. Granting an extension of time would not cause injustice to the company, and registration would ensure that the agreement between the company and the applicant bank is properly secured under the law. The court exercised its discretion to allow the extension, emphasizing that statutory compliance serves the interests of justice and commercial certainty.
Obiter and limits
- No injustice is caused to the company by granting the extension.
- Registration will ensure that what the company agreed upon with the applicant bank is properly secured under the law.
Court disposition
application allowed
- The applicant bank is granted an extension of time to register Company Form 4 within 15 days from the date of this order.
- The applicant is to bear the costs of this application.
Source and reliance status
High Court of Uganda
This page organises the available record for research. Confirm quotations, current status, and subsequent treatment against the official source before relying on the case.
Judgment reading view
Judgment text
The complete available source text.
High Court of Uganda
Judgment
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.}}{\*\pnseclvl2\pnucltr\pnstart1\pnindent720\pnhang {\pntxta .}} {\*\pnseclvl3\pndec\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl4\pnlcltr\pnstart1\pnindent720\pnhang {\pntxta )}}{\*\pnseclvl5\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (} {\pntxta )}}{\*\pnseclvl7\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl8\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \qc \li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid526777 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\insrsid883575\charrsid526777 THE REPUBLIC OF UGANDA}{\insrsid15494655\charrsid526777 \par }{\insrsid883575\charrsid526777 IN THE HIGH COURT OF UGANDA AT KAMPALA \par COMPANIES CAUSE NUMBER 02 OF 2006 \par }\pard \ql \li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13128528 {\insrsid13128528 \par }{\insrsid883575\charrsid526777 STANDARD CHARTERED BANK (UGANDA) LIMITED ::: APPLICANT}{\b\insrsid883575\charrsid526777 \par }\pard \qc \li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid526777 {\b\insrsid883575\charrsid526777 VERSUS}{\insrsid883575\charrsid526777 \par }\pard \qj
\li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid526777 {\insrsid883575\charrsid526777 THE NEW VISION PRINTING \par AND PUBLISHING CORPORATION :::::::::::::::::::::::: THE COMPANY \par \par }{\b\insrsid883575\charrsid526777 BEFORE: THE HON. AG. JUDGE REMMY KASULE \par }{\insrsid883575\charrsid526777 \par \par }{\b\insrsid883575\charrsid526777 RULING: \par }{\insrsid883575\charrsid526777 \par This application is made pursuant to Section 102 of the Companies Act and Order 34 A Rule 6 of the Civil Procedure Rules. \par }{\insrsid4069550\charrsid526777 \par The Court is being prayed to grant an extension of time within which to register Company Form A with the Registrar of Companies in respect of charges by way of a debenture/mortgage executed by the Company in favour of the applicant. \par \par The applicant Bank extended Credit facilities to the Company on 30}{\super\insrsid4069550\charrsid526777 th}{\insrsid4069550\charrsid526777 April, 1999 and the Company executed a mortgage and a debenture in favour of the appli cant Bank to secure repayment of the extended financial facilities. \par \par The mortgage and debenture were duly registered on 4}{\super\insrsid4069550\charrsid526777 th}{\insrsid4069550\charrsid526777 May 1999, but through in advertence Company Form 4 was not registered with the Registrar of Companies. \par \par The
Application is supported by an affidavit of Mr. John Magezi Counsel for the Applicant Bank. \par \par The Court is satisfied that this is a proper case for the court to exercise its discretion to extend time by allowing the applicant to file Company Form 4 out of time. By granting such e xtension no injustice is caused to the Company. Registration, on the other hand, will ensure that what the Company agreed upon with the Applicant Bank is properly secured under the law. \par \par Accordingly the application is allowed. The applicant Bank is hereby granted an extension of time to register Company Form 4 within 15 days from the date of this order. \par \par The applicant is to bear the costs of this Application. \par \par \par }{\b\insrsid4069550\charrsid526777 Remmy Kasule \par Ag. Judge \par 15}{\b\super\insrsid4069550\charrsid526777 th}{\b\insrsid4069550\charrsid526777 May 2006 \par }{\insrsid4069550\charrsid526777 \par \par }{\insrsid883575\charrsid526777 \par \par }}
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