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.
Group Accounts: Section 150 requires a company which has subsidiaries to lay before the company in general meeting accounts or statements dealing with the state of affairs an
It was noted by stakeholders that phoenix activity has evolved significantly over the past decade. First, the ATO noted that they are seeing significantly less 'asset stripping' of
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
Nemo Dat Quod Non Habet - Goods Therefore another common law maxim such applies to sale of goods is like "nemo dat quod non habet": whether a person cannot give such he does
Advantages of Arbitration (a) First is, Speed : It is a faster scheme of dispute resolution (b) Second is, Convenient : Parties are free for determine as; Th
Nature of a Company: There is no precise legal definition of "a company". This is due to historical reasons which are too lengthy to be narrated in this text. Suffice it to sa
Substantive Law: Therefore this is concerned through the rules themselves as opposed to the procedure on how to affect them. So it defines the rights and duties of parties an
Relate the military and economic power with each other The balance of military and economic power of equilibrium is therefore desirable. A balance of power is a pre-requisite f
What is the meaning of Inertia of Expectation We now move a bit away from the political economy of policy process to look into the inherent currents responsible for inaction an
LEGAL PROTECTION OF MINORITIES: According to decisions of English courts, companies are democratic organisations whose affairs are to be managed by the directors according to
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