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.
Compulsory liquidation - winding up: There are a number of points of similarity: (a) in a compulsory (but not a voluntary) liquidation the directors have to submit a statemen
Holder in Due Course - Transferor's Title Section number 29 of the Act defines like "a holder in unpaid course" such like "a holder who that has taken a bill, so then complete a
Commencement of Business: Section III (1) provides that a public company which has issued a prospectus cannot commence business or exercise any borrowing powers unless:-
Question : In July 2007 Amin sent a brochure of a hotel he was running and managing to Sam, a travel agent and included the following statement: "The hotel provides a range of
QUESTION 1 Arbitration is an overriding condition in all business contracts. Without a clause for arbitration business relationship is bound to suffer. Critically examine this
QUORUM: However a quorum is the minimum number of persons who must be present at a meeting in order that the meeting may validly transact the business for that it was convened
Question 1: As a potential investment company you have been asked to brief your potential business partner about the most important steps required for the setting up of a hosp
Approval of the scheme - mergers and winding up: A scheme of arrangement was agreed between Hambros and Hellenic whereby the shareholders of Hellenic were to have their shares
Q. What is phoenix-like activities? Phoenix activity and phoenix-like activities Many activities are referred to as "phoenixing" which do display phoenix-like characteristic
Accounts to be Annexed to Balance Sheet: By S.156 (1) the profit and loss of account, and, thus far as not incorporated in the balance sheet or profit and loss of account, any
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