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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Technical change‚ inequality and the labor market‚ Journal of Economic Literature 40: 7-72 Aghion‚ Philippe‚ and P. Howitt (1998). Endogenous Growth Theory. Cambridge‚ MA: MIT Press. Archibugi‚ D. and A. Coco (2004) “A new indicator of technological capabilities for developed and developing countries (ArCo)”‚ World Development 32: 629-654. Barro‚ R. J. and Jong-Wha Lee (2000). International Data on Educational Attainment: Updates and Implications Bresnahan‚ T.F.‚ E. Brynjolfsson and L.M. Hitt (2002) Information
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standardized tests have setbacks which could jeopardize a student’s future academic progression given he/she fails to pass. Therefore‚ I believe standardized tests are ineffective at measuring a student’s capabilities and hence interfere with true academic learning. Standardized tests assess the capability of the student to react to the test in an appropriate manner. It does not factor in true knowledge retention‚ the key element to a successful academic exam. Students who are faced with any form of disadvantage
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prefer to work for a large company. Others prefer to work for a small company. Which would you prefer? Use specific reasons and examples to support your choice. The issue whether working for a large company is better than working for a small company is a controversial one. From my everyday experience and observation I think that every option has its advantages and disadvantages. I base my opinion on the following points. From the one side working for a large company brings many benefits. First
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Joint Stock Company form of business organization has become extremely popular as it provides a solution to (2) overcome the limitations of partnership business. The Multinational companies like Coca-Cola and‚ General Motors have their investors and customers spread throughout the world. The giant Indian Companies may include the names like Reliance‚ Talco Bajaj Auto‚ Infosys Technologies‚ Hindustan Lever Ltd.‚ Ranbaxy Laboratories Ltd.‚ and Larsen and Tubro etc. 1.2 MEANING OF COMPANY Section
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BT20403/Company Law Business Entities: Company Law Topics covered: Types of Company Formation of a company; • Promoters Pre-Incorporation Contract • Memorandum and Articles of Association Inconsistency between the object and the company’s activities Upon incorporation: • Company is an artificial legal person • Separate legal entity Lifting the corporate veil scs&ismk/company law CONT. 2 The Effect of Incorporation • Memorandum of Association & Articles of Directors’
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usually do not look behind ‘the veil’ to inquire why the company was formed or who really controls it. However‚ in some situations the veil is pierced so as to render officers criminally liable for their company’s breaches of the Act. Explain clearly statutory exceptions where the court would lift the veil of incorporation. The required characteristic of a company is that it exists as a separate legal entity from its members of the company. The separate legal entity was authoritatively established
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In Martha C. Nussbaum’s “Capabilities and Human Rights‚” she quickly mentions global responsibility and global citizenship. Nussbaum’s thoughts fully capture the idea of global citizenship and its purpose. She proposes that in some places‚ especially the U.S.‚ people have the tendency to remain only within the comfort zones of their own society without exploring the people or cultures around them. This is one reality‚ of the world‚ in which we live‚ however; in a world that now yearns for interconnectedness
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The Companies Act‚ 1956 Sec 1 Short title‚ and commencement (1) This Act may be called the Companies (Amendment) Act‚ 2000. (2) The provisions of this Act‚ other than sections 7 and 75‚ shall come into force at once and sections 7 and 75 shall come into force on such date as the Central Government may‚ by notification in the Official Gazette‚ appoint. Sec 2 Definitions In this Act‚ unless the context otherwise requires‚ (1) "abridged prospectus" means a memorandum containing such salient features
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If they are to conduct the Smallco Graphics business through a company‚ a very significant of the advantages will be the separate legal entity‚ which means that from the view of the law‚ a company is treated as a separate person. Hence‚ the debts of the company will be limited to the amount remaining unpaid on the members’ shares. This is also called “limited liability” of the members. Apart from the limited liability‚ a company has a perpetual succession‚ meaning that it is a continuing entity
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