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.
Prohibition: Section 18 of the Registration of Business Names Act provides that the registration of a company's business name under the Act shall not be construed as authoris
Scheme at meeting - reconstructions: Following approval of the scheme at meeting(s) application is made to the court for an order to approve and implement the scheme. At this
Q. Can you describe International law? International law comprises of a set of rules that govern the international relations between sovereign states. It can be classified into
Order for compulsory liquidation: The Official Receiver also calls separate meetings of creditors and of contributories within one month of the order for liquidation: s.236.
Civil Law: Further civil law is affected with violations of private rights in their corporate or individual capacity egg breach of contract, negligence, defamation, nuisance,
State the term - monetary policy coordination Criticisms have been put forward on proposals for enhanced fiscal and monetary policy coordination. This policy coordination might
Statutory Companies: A statutory company is formed by a specific Act of Parliament, primarily as a means of conferring on it some powers which would not be available to it if
how do i answer a problem question in law about the law of contract
Analyze the differences between a proposal and an invitation to treat and discuss the rules to determine the point of time on which an agreement is reached. Using the latest Malays
I have a contract for employment, its is for a CTO position, giving me equity stake in the company, I do not agree with the offer and I have a counter offer, I need a experts opini
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