Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Proceedings for Compulsory Liquidation:
When the petition is presented to the court a copy is delivered to the company in case it objects, and it is advertised so that other creditors may intervene if they wish. At the hearing, a creditor whose debt is unpaid is likely to secure an order for compulsory liquidation (as his remedy of last resort) unless the company (paragraph 8) or opposing creditors (paragraph 9) persuade the court to dismiss the petition.
If the petition is presented by a member (contributory) he must show (in addition to suitable grounds for compulsory liquidation) that:
(a) the company is solvent or alternatively refuses to supply information of its financial position. The court will not order compulsory liquidation on a member's petition if he has nothing to gain from it. If the company is insolvent he would receive nothing since the creditors then take all the assets;
(b) he has been a registered shareholder for at least six of the 18 months up to the date of his petition. But this rule is not applied if the petitioner acquired his shares by allotment direct from the company or by inheritance from a deceased member or if the petition is based on the number of members having fallen below two: CA s.221.
A personal representative of a deceased shareholder may petition but he must first obtain a grant of probate etc. to establish his authority to represent the estate: CA, s.216. The trustee in bankruptcy of a bankrupt contributory may also petition on his behalf: CA, s.217.
Collecting Banker Furthermore a collecting banker is protected through the following provisions: like; (i)Bills of Exchange or Swap Act. with S.82 (1) provides such a ban
QUESTION The vision of a modern and efficient Public Service is to ensure good governance and achieve excellence in the delivery of public services (a) Define good governance
Accuracy of the managers certificate: Was it the duty of the auditors to test the accuracy of the manager's certificate by a comparison of the figures in the books, and were t
Class Meetings: "Class meetings" are not provided for by the Act. however, a class meeting may be held pursuant to the provisions of the company articles of association, if a
Question 1: Discuss the main problems faced by judges when interpreting a piece of legislation. Question 2: A necessary evil': Would you agree with this definition of d
Advantages of Stare Decisis - Aptitude for growth However process of 'distinguishing' cases facilitates the growth of detailed legal principles to deal by different factua
QUESTION 1 Give an account of the distinct methods according to which information can be collected for policy analysis QUESTION 2 "Policy Evaluation marks the final sta
Define the types of interaction on which literature can be found There are two types of interaction on which literature can be found. These are interactions within the legisla
Important to observe that IHL prohibitions It is important to observe that IHL prohibitions should be identified and followed as their violations/breach may be considered as
Types of Agency
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd