Winding up of Company: Winding up of a company is the process whereby its life is ended and its property administered for the benefit of its creditors and members. An administrator called a liquidator‚ is appointed and he takes control of the company‚ collects its debts and finally distributes any surplus among the members in accordance with their rights. Kind of Companies can be wound up: Only a limited company can be wound-up. The term "winding-up" (or "wound-up") bears a similar meaning of
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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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WINDING UP OF A COMPANY Winding up or liquidation of a company is the ending of a company’s life; its property administered for the benefit of its creditors and members. At the end of the winding-up‚ the company will be dissolved. There are two main types of winding up: compulsory‚ under and order of the court; and voluntary‚ under resolution of the company. VOLUNTARY WINDING UP In a voluntary winding-up‚ the members of the company have passed a resolution to wind-up the company. There
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Lower than Two 6-8 Voluntary Winding Up 9-10 Compulsory Winding Up 11-12 SCENARIO Anggun‚ Bromley and Chumbee and some friends have set up a business known as ABC Bhd which dealt with coffee drinks. Within five years of the incorporation of ABC Bhd‚ the company is making lots of profits. At the same time the company had obtained a loan amounted to RM 500‚000 from Bank Aku Bhd in
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which the Court can order that a company be wound up compulsorily. B.H McPherson defines winding-up as a process whereby the assets of a company are collected and realised‚ the resulting proceeds are applied in discharging all its debts and liabilities‚ and any balance which remained after paying the cost and expense of winding-up is distributed among the members according to their rights and interests or otherwise dealt with as the constitution of the company directs. S213 of the 1963 Act sections
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E commerce and Business Start up Throughout the evaluation process of a potential new idea and in the development of new marketing strategy E-Commerce needs to be continually assessed. E-Commerce offers the entrepreneur the opportunity to be very creative and innovative; its importance is indicated in the continually increasing amount of both business to business and business to costumer e-commerce sales. It increase on the annual basis‚ according to com Score Networks‚ total Internet business
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Start-up Sample Business Plan Table of Contents 1.0 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1 Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 Mission and Vision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 Keys to Success
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“CHALLENGES OF NEW BUSINESS START UP‚ THE UNTOLD STORIES” In a bid to preview this article‚ I will share with you my views on what a start up is‚ common challenges experienced and my untold story. I would however start with this quote by Ajaero Tony Martins a successful entrepreneur and investor: "Starting a business is like building a ship and embarking on a voyage‚ armed with a plan‚ a map and a team. You will have to sail against storms‚ unpredictable weather and uncertainty. If your ship sinks
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The Fuqua School of Business Despegar.com : A start-up in Latin America "I truly believe that the Internet will change the way we work‚ live‚ play and learn in ways we are just beginning to explore.” John Chambers‚ CEO‚ Cisco Systems‚ Inc. “…The Internet is a tidal wave. It chang es the rules. It is an incredible opportunity as well an incredible challenge…” Bill Gates‚ CEO‚ Microsoft Corp. Although it was one of the warmest and sunniest weeks of the year in Miami‚ Roberto Souviron‚ Ernesto
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