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.
Right to sell - Terms used in Contract With S.14 (a) provides that there is an implied condition such seller has a right for sell the goods and, like in the case of an agreeme
Recovery of Possession of Goods However below S.15 where two-thirds or more about the hire-purchase price has been paid the owner is such precluded from enforcing the rights a
Types oF Goods - Sales of Goods Further the Act classifies goods into: like; (i) Specific Goods Whether specific goods are "goods" like are acknowledged and agreed on
Chartered Companies: A chartered company is formed when the Queen or King of England issues a charter, or "letters patent", to a group of people who intend to carry on a busin
Liability Of Members: S.72 (1) provides that in the case of a reduction of share capital a member of the company so there past or present and shall not be liable in respect of
Describe in detail about the - policy makers Elections are used to choose the policy makers, it is not the only mechanism. Since the authority to make decisions may be vested i
QUESTION 1 In the exercise of its disciplinary power an employer can terminate an employee's contract. Should an employer decide not to terminate the contract of employment, wh
STATUTE LAW: There this is an Act of Parliament. Whether this is law made through parliament directly in exercise of legislative power conferred upon it through the constitut
Question 1: Constructive dismissal is inherently different from dismissal in the sense that it is the employee who takes the initiative in considering the contract as having be
Patrick works in the same office as Marian and they do not work well together. One day, Marian got credit for a job well done and Patrick got angry over it. He walked int
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