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.
Removal of Directors: By s.185(1) a company may by ordinary resolution remove a director before the expiration of his period of office, but notwithstanding anything in the art
Qualified Acceptance It might be as the drawee is prepared for accept the bill since only subject to some adjustment. Any type of acceptance which varies the effect of such a bi
Multiparty system and coalition We have already made conceptual excursion gaining impressions of the existence of multiple parties. Now, in this section we shall observe that h
Determine the deciding factor with respect to legislature Party with most votes has been in control of the legislature, so the deciding factor with respect to legislature is th
Compulsory Liquidation : A petition is presented to the High Court under s.218 of the Companies Act. The petition will specify one of the
Policy coordination Policy coordination occurs when countries agree to pursue policies intended to promote the welfare of all nations involved in the agreement. Spillover effe
Proceedings for Compulsory Liquidation: When the petition is presented to the court a copy is delivered to the company in case it objects, and it is advertised so that other
State the International Policy Coordination There may be two sources of interdependence between national economic policies, club goods and horizontal spill overs. The first has
Determine the term miscoordination - Policy Formation A problem known as miscoordination in Policy Formation may also emerge and it may be either vertical or horizontal. Let us
Disclosed Principal - Relations between Agent and Third Party Whether the agent acted to a disclosed principal through informing the third party such he was an agent acting 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