Adjudication order-adjudication of debtor, Financial Accounting

Assignment Help:

Adjudication order

The court may adjudge the debtor bankrupt on the application of the O.R. or any creditor in the following cases:

If the creditors so resolve at their first meeting, or pass no resolution, or do not meet at all;

  1. If a composition or scheme is not approved within 14 days after the conclusion of the public examination, or such further time as the court may allow;
  2. If the debtor applies to be made bankrupt;
  3. If there is no quorum at the first meeting of the creditors;
  4. If the debtor has absconded or does not intend to propose a composition or scheme;
  5. If the public examination is adjourned sine die;
  6. If the debtor fails without reasonable cause to submit his statement of affairs;
  7. If a composition or scheme is annulled by the court.

Related Discussions:- Adjudication order-adjudication of debtor

Explain relationship between interest rate and bond price, 1. Would export ...

1. Would export businesses prefer a rising or declining dollar? Would it be the same for a European tourist on a budget and visiting the Grand Canyon? Explain your answer. 2. Wh

Record the appropriate journal entry., Grand Champion, Inc., purchased Amer...

Grand Champion, Inc., purchased America's Sweethearts Corporation on January 1, 2013. At the time, America's Sweethearts had $750,000 of identifiable assets and $525,000 of liabili

How to determine the financial reports of businesses, How to Determine the ...

How to Determine the financial reports of businesses In response to criticisms that financial reports of some businesses aren't clear enough to users, accounting rule makers ha

What is accounting and book keeping, Question 1 What is accounting and boo...

Question 1 What is accounting and book keeping? Explain the objectives of accounting? Question 2 Explain GAAP and write down the relationship between accounting principles, a

Bad debts, how to do the calsulations for bad debts

how to do the calsulations for bad debts

Calculate tax salvage value , Consider an asset that cost 100000 to acquire...

Consider an asset that cost 100000 to acquire and has an estimated salvage value of 20000. The assets is to be depreciated over four years. At the end of four years, the asset is s

Investments under the trustee act-trust laws and accounts, Investments unde...

Investments under the Trustee Act The act defines the categories of investment as follows:         1. Fixed interest securities are: Securities which under their te

Use spreadsheet to determine allocation, The Red and Blue partnership has b...

The Red and Blue partnership has been created to operate a law firm. The partners have been attempting to devise a fair system to allocate profits and losses. Red plans to work mor

Estimate expected returns, Use the data from "Beating the Market Quarterly"...

Use the data from "Beating the Market Quarterly" problem. Use that data to estimate expected returns and a covariance table for the 5 stocks from that problem. Use your estimates t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd