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.
Judicial elucidation of Acts: In fact the other points to be noted in relation to judicial elucidation of Acts are as follows: like; (a) There is no clause of an Act is t
1. Each country in the world is a member of the World Trade Organization (WTO). 2. A federal court of the United States and a state court can both "hear," i.e., listen to the cl
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
Liability by Estoppel Anyone who presents himself or permits himself for be represented, further by words, conduct or writing as the partner about another person like persons
Articles of Partnership - Partnership Law However a partnership need not be formed through written agreement, it is accustomed for 'Articles of Partnership' for be drawn up, s
Glenda has taken a household insurance on her classic Queenslander home in North Queensland. At the time of application, the insurer "URINSURED" asked various questions regarding
Termination of Partnership The Articles of Partnership will contain like a rule or be the regulations with regard for the termination of the partnership. Almost in the absence o
The policy process - Advocacy coalitions and Policy learning The mobilization of attention is what policy advocacy is primarily about. And the systematic mobilization of attent
Powers: The ultra vires doctrine limits a company's powers to the attainment of the company's objects under its memorandum of association. Partnerships are not affected by t
(These are short answer assignments; just a few paragraphs for each part is all that is required) Assignment 1: Discussion Questions In this assignment, you will research and appl
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