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.
Advantages of Negotiable Instruments (i) A negotiable instrument provides a creditor regarding a better remedy, since once it has been issued like or accepted whether applicab
Main advantages - mergers and winding up: A scheme of arrangement under s.207 offers three main advantages: (a) it can be used in circumstances to which s.210 and s.280
Q. Show Recent developments in mitigating phoenix activity? Since these previous works, there have been significant developments in mitigating phoenix activity. Following Tr
Question 1: (a) A contract is valid as soon as the parties agree on its terms. According to you, is this statement correct? Justify your answer with the relevant enactment/cas
Counter - offer and Death - Termination of an Offer Counter - offer However a counter - offer is constituted through the offeree's qualified acceptance that in itself g
Companys capital: An order made by the court may- (a) regulate the conduct of the company's affairs in future, as in Re: H.R. Harmer Ltd;- in which the father (Harmer) was
Prospectus Issue And Statutory Provisions: A company's shares are legally regarded as goods. Consequently, the common law rule known as "caveat emptor" applied to their sale.
Powers of the Attorney General Whereas under sec 26(3) the Attorney General is empowered for as; Undertake and Institute criminal proceedings against any person b
TYPES OF SUBSIDIARY LEGISLATION: However the definition of subsidiary legislation in s.2 of the Interpretation and General Provisions Act reflects the great variety of nomencl
Question: (a) Suspected Illegal, Unreported & Unregulated (IUU) Vessels calling into Mauritius Port are subject to a series of investigations, prior to authorizing unloading
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