WINDING UP OF COMPANIES NOTE: Wherever the term ‘Court’ is being used in the chapter that will be substituted by ‘Tribunal’ in accordance with vide Companies (Second Amendment) Act‚ 2002 w.e.f. a date yet to be notified. INTRODUCTION -It is the process by which a company’s life is ended and its property administered by liquidator or administrator for the benefit of creditors and members -A company can be wound up even when it is solvent DIFFERENCES BETWEEN INSOLVENCY AND WINDING UP 1. In
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Winding up of Company Section 425 of the Companies Act‚ 1956‚ deals with the winding up of companies. Winding up of company is a legal procedure to dissolve the company and put an end to its life. The company ceases to be a ‘going concern’. The term winding up is defined as‚ ‘the process by which the life of a company is ended and its property is administered for the benefit of its members and creditors.’ During the process of winding up‚ the assets of the company are sold and all the debts
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RESEARCH ESSAY Common Law Reasoning and Institutions Researching and writing one essay from a choice of six titles provided (see below) is a compulsory part of the Common Law Reasoning and Institutions (CLRI) subject. You must also be prepared to answer a series of reflective questions on your research essay in the May/June Analyse the adequacy and relevancy of the crime control and due process models for understanding criminal justice‚ with reference to the jurisdiction you are in and/or England
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Purinex’s business? How would you describe its strategy? What do you think are the founder’s goals and vision for the company? Founders goal for Purinex is to maintain the firm’s viability as a strategic acquisition target or as a possible IPO candidate and if the firm wants to become IPO candidate‚ it means that the firm has to retain some of its core intellectual properties. Purinex’s vision is to be a leader in pharmaceutical in the industry that its business can save and improve patients’
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Current Situation of Pakistan Economy There are genuine fears prevailing in Pakistan that its economy is in a bad shape. Whereas some expert economists of the country comment that Pakistan’s economy is near collapse‚ others are of the view that although our economy is still away from the verge of immediate collapse it is so fragile that unless serious and urgent efforts are made to survive the economy‚ it can move to a dangerous stage within about next six to 12 months. These views of experts cannot
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How to give up smoking 27-03-2010 10:52 PM Some smokers accost by saying \"Do not tell me why I should stop smoking‚ but tell me how to stop. It is worth mentioning that 5 - 16 % of smokers are able to stop for six months at least with out aid means or medical treatments. But‚ the studies pointed out that the smokers who use medical treatments are able to stop for more than six months from those who do not use them. Besides‚ the supportive behavioral programs increase the proportion of the success
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UNITED STATES ECONOMIC SITUATION: The US has the largest and most technologically powerful economy in the world‚ with a per capita GDP of $49‚800. In this market-oriented economy‚ private individuals and business firms make most of the decisions‚ and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand
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corporation 2. Outline the development of company law in England and Australia 3. List the various types of corporation 4. Describe the Corporations Law scheme. 5. Outline the recent reform of company law in Australia 6. Explain the need for the introduction of the Corporations Act 2001 Chapter 1 Historical Development of Company Law Chapter Summary 1 THE CONCEPT OF THE CORPORATION A corporation is a body created by law‚ with its own legal status‚ and continues to
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Introduction Companies which handle packaging services must be able to provide a variety of options to their consumers. They must be able to meet consumer demands when parcels need to be shipped and received within a designated timeframe. UPS is a global company which meets all of these needs. Describe Main Line of Business of the Company United Parcel Service started out as the American Messenger Company founded by 19 year old James Casey in Seattle‚ Washington back in 1907. Most deliveries
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Is the common good common? Something is wrong with the way we live today. For countless years we have made a benefit out of the chase of self-interest‚ this now constitutes what remains of our sense of purpose. We know what things cost but have no idea what they are worth (Judt‚ 2016). The principles of catholic social thought (CST) is separated into nine major principles. These principles deliver a thorough understanding of relationships between individuals and the way in which society operates
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