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.
Misfeasance: Under s.324, misfeasance proceedings may be instituted against a director, promoter, manager, liquidator or "officer" (including an auditor) of a company in liqui
Registers and documents - registered office: The following registers and documents are also kept at the company's registered office:- i. The register of members
State Article 14 of air and outer space law Article 14 refers to the fact that each contracting State should agree to take effective measures to prevent the spread by means of
Revival of a Dissolved Company: Liquidation leads on to dissolution of the company. The court may, however, within the ensuing two years order that dissolution be rescinded a
Alien Tort Claims Act Problem: You work at a New York law firm and have been invited by the partner you work for to attend a meeting with Mrs. Esther Kiobel and a dozen
(a) How will you plan to establish your own business? (b) What are the merits and demerits in owning a business? (c) What are the aspects you have to think in establishing an
Civil Case - African Customary Law Moreover customary law is applicable only in civil cases. Thus the District Magistrate's Court's Act 1967, S.2 restricts the civil case
What is the territorial sovereignty The territorial sovereignty includes the land territory, the territorial sea, the seabed and the subsoil of the territorial sea. It also inc
Consistent with the written Law However Islamic law is the law based on the Holy Koran and the teachings of the Prophet Mohammed as defined in his Sayings called "Hadith".
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
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