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!
WINDING UP ON:
"THE JUST AND EQUITABLE GROUND":
Unlike the other five grounds this one is widely interpreted and it is no objection that the petition is based on facts unlike the other grounds, (i.e. the ejusdem generis rule does not apply) or facts without precedent (as regards the just and equitable ground itself. The just and equitable ground is usually relied on by a member (contributory) who is dissatisfied with or is at loggerheads with the directors or controlling shareholders over the management of the company. But something more than dissatisfaction is needed to make it just and equitable that the company should be wound up. Although the court has a wide discretionary power, winding up orders have been made in the following situations:
The substratum of the company has gone, i.e. the only main object(s) of the company (its underlying basis or substratum) cannot be or can no longer be achieved:
Case: RE GERMAN DATE COFFEE CO. (1882)
The objects clause specified with much particularity that the sole object was to manufacture coffee from dates under a German patent. The German government refused to grant a patent. The company manufactured coffee under a Swedish patent for sale in German. A contributory petition for compulsory winding up.
State law concerning use of force The law concerning use of force is a contentious area in international law. In pre-modern times, the state territory was extended by occupyi
XYZ Ltd has 1000 members and it has adopted a constitution. Matt is one of the directors of XYZ Ltd. Matt has made a gift of $10,000 to his wife, Melissa out of the Company's funds
Political and Education function of Chief Justice Political Function Moreover the chief justice administers the presidential oath for the person who is elected like pre
QUESTION John, an employee, at Mauricia Travel Ltd, wishes to set up a trade union. He has been told that trade unions are very beneficial to employees and if trade unions and
Right to prior repayment: Therefore this was not variation of class rights since the existing preference shareholders had the same number of shares (and votes at a class meeti
Choice Of Method: There are three statutory methods to be considered: Where one company offers to acquire the shares of another company and its offer is accepted b
Contents and Form of Accounts - Accounts and audit: By s.149(1), every balance sheet shall give a true and fair view of the state of affairs of the company as at the end of it
Explain the concept of TERRITORY State is the most important subject of international law. It can be defined as a population, living in a definite territory that has government
QUESTION The Occupational, Safety and Health Act 2005 states that Every employer shall, so far as is reasonably practicable, ensure the safety, health and welfare at work of
Representations Regarding Character or Credit Since statements relating to a person's credit-worthiness will only be actionable whether made in pursuance of a contract that wa
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