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!
Reconstruction Under S.280:
The essential features of this type of reconstruction have been described at 8.2.1(b). It is subject to several disadvantages and is little used. But when a reconstruction takes this form s.280 procedure must be followed so that a dissenting minority does have the appropriate safeguard.
This procedure applies to a company which is proposed to be or is in course of being wound up voluntarily. A company in liquidation must dispose of its assets (other than cash) by sale in order to pay its debts and distribute any surplus to its members. The special feature of a s.280 reconstruction is that the business or property of Company P is transferred to Company Q in exchange for shares of the latter company which are allotted direct or distributed by the liquidator to members of Company P. Obviously the creditors of Company P will have to be paid in cash. A dissenting minority of members of Company P can also require to be paid in cash. Hence substantial sums may have to be found in cash. This is one of the drawbacks.
Characteristics of Contract of Guarantee (a) There have be three parties: as the creditor, as the debtor and as like the surety or like guarantor. (b) There have be as a pr
QUESTION 1 With the coming into force of the Employment Rights Act, how far has the freedom of the employer to unilaterally terminate contracts of employment been curtailed?
Domestic Agency of Necessity However a married woman that has been actually or constructively deserted through her husband has authority on common law to take necessities at c
What are the advantages of delegated legislation? Advantages of delegated legislation: a. Permits Parliament time to concentrate onto other legislation. b. This is fas
As a senior HR officer in Catastrophe Concepts HR department, you have been asked by George Chapel to prepare a management briefing regarding the situation. Your report should:
Explain the open method of coordination There are at least five levels at which coordination can occur such as, - international, regional, national, sub-national and sectoral
Ben sold clothes at a market stall on weekends for a number of years. Two years ago business was very poor and Ben was forced to cease trading. Ben sold all of his remaining stock
Representative action: Where individual shareholders have suffered personal loss in addition to the injury to the company one shareholder may bring a representative action on
Provision of Fiduciary Duties - company management: This provision is supplemented by Article 84 of Table A which provides that- i. The director shall not vote in respect
Presumptions: Therefore in their attempt to construe statutes that courts of law are guided through the subsequent assumptions or presumptions.; (a) That the statute was
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