DEFINITION OF 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
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to 1 Apr 2003. GEOGRAPHICAL LOCATION : - V.V.P. Engineering College‚ Vajadi Virda‚ Kalavad road‚ Rajkot‚ Gujarat State‚ India.360 005 PROJECT: TESTING WINDING AND ASSEMBLING OF THREE PHASE INDUCTION MOTOR. ORGANIZATION: V.V.P. ENGINERING COLLEGE‚Rajkot‚Gujarat stae. TITLE OF POSITION OCCUPIED: Engineering Student. For completing the
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INTRODUCTION Winding up of a company is defined as a process by which the life of a company is brought to an end and its property administered for the benefit of its members and creditors. A liquidator is appointed and he takes control of the company‚ collects its assets‚ pays debts and finally distributes any surplus among the members in accordance with their rights. At the end of winding up‚ the company will have no assets or liabilities. When the affairs of a company are completely wound up‚
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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 a - f specify the grounds for petitioning for a compulsory winding up. The main
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On the winding road to create a strong brand. Part I Mass marketing and great availability of products have accelerated our transformation into a consumer society‚ or the one that exists simply because it buys. People express themselves through what they possesses. However‚ nowadays the product has been replaced by a brand‚ a shopkeeper replaced by advertising. Corporations have become accustomed to the fact that although they produce products‚ what consumers pay for is basically the brand. Enterprises
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Different Ways of the Winding up of the Joint Stock Company: Winding Up of A Company: The company is created by law‚ when the legal existence of a company abolishes it is called the winding up of a company. Following are the various kinds or methods of winding up the company: 1. Compulsory winding up by the court 2. Voluntary winding up i. Members Voluntary Winding up ii. Creditors Voluntary Winding Up 3. Winding up under the supervision of the court 1. Compulsory Winding Up By the Court: Under
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CHAPTER ONE 1. INTRODUCTION In this chapter a researcher presents the background of the study‚ statement of the problem‚ objectives of the study‚ research questions‚ scope of the study‚ and importance of the study‚ research methodology and related literature review. 1. BACKGROUND TO THE STUDY Due to linkage between environmental rights and human rights the beginning of 1990’s witnessed the entrenchment of environment rights in constitutions of states in Africa. For instance
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6. A proforma cost sheet of a company provides the following particulars : Elements of Cost Material 40% Direct Labour 20% Overheads 20% The following further particulars are available: (a). It is proposed to maintain a level of activity of 2‚00‚000 units. (b).Selling price is Rs.12 per unit (c) Raw materials are expected to remain in stores for an average period of one month (d) Materials will be in process‚ on averages half a month. (e) Finished goods are required to be in stock for
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Term Sheet BUS605: Venture Capital and Private Equity Term Sheet “A term sheet is a non-binding agreement setting forth the basic terms and condition under which an investment will be made. The term sheet serves as a template to develop more detailed legal documents. Once the parties involved reach an agreement on the details laid out in the term sheet‚ a binding agreement or contract that conforms to the term sheet details is then drawn up” (Investopedia‚ 2013)
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Example Company Balance Sheet December 31‚ 2011 ASSETS LIABILITIES Current Assets Current Liabilities Cash $ 2‚100 Notes Payable $ 5‚000 Petty Cash 100 Accounts Payable 35‚900 Temporary Investments 10‚000 Wages Payable 8‚500 Accounts Receivable - net 40‚500 Interest Payable 2‚900 Inventory 31‚000 Taxes Payable 6‚100 Supplies 3‚800 Warranty Liability 1‚100 Prepaid Insurance 1‚500 Unearned Revenues 1‚500 Total Current
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