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Law and the Economy in Colonial India$
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Tirthankar Roy and Anand V. Swamy

Print publication date: 2016

Print ISBN-13: 9780226387642

Published to Chicago Scholarship Online: May 2017

DOI: 10.7208/chicago/9780226387789.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 18 May 2022

Corporate Law: Flawed Westernization

Corporate Law: Flawed Westernization

(p.142) Eight Corporate Law: Flawed Westernization
Law and the Economy in Colonial India

Tirthankar Roy

Anand V. Swamy

University of Chicago Press

Although the joint family covered some aspects of the organization of business firms, it was neither a stable notion nor a comprehensive one in the face of new enterprises formed of unorthodox partnerships and, especially, industrial firms that needed to gather both capital and managerial labor from a much wider pool than the family. The chapter presents a chronological account of the Partnership Act and the Company Act, the response to the needs of firms. The chapter then concentrates on a peculiarly South Asian institution, the managing agency, and shows that even as the Company Acts became progressively more complex, the agency system remained curiously under-legislated.

Keywords:   Partnership Act, Company Act, managing agency

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