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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CHAPTER 24 Winding-Up (Sections 425 – 560) Contributories Liability as contributories of present and past members (Section 426) Question 1 By an order of the Court M/s ABC Limited was wound up with effect from 15.3.2002. Mr. Gupta‚ who ceased to be a member of the Company from 1.6.2001 received a notice from the liquidator to deposit a sum of ` 15‚000 as his contribution towards the liability on the shares previously held by him. Mr. Gupta seeks your opinion about his liability. Answer
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To understand more deeply and address this problem we base on the neo-classical theory of the firm and the result in analysis “hold-up problem” This paper begins by analysing the success of neo-classical in explaining scale and scope of firms. It will then go on to analyse imperfect contracts and specific investments in the transaction cost theories. Next‚ the effects of the property right approach on economies of scale and scope are evaluated through method to solve this problem. In accordance with
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Consequences of Winding Up Upon the commencement of winding up proceedings‚ the following consequences shall apply: 1. The business of the company ceases from the commencement of the winding up‚ except so far as the liquidator thinks is necessary for the beneficial winding up of the company. In such an event‚ every invoice‚ order for goods or business letter issued by the company must have the words “in liquidation” added after the name of the company. The liquidator has no power to carry on
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Adulthood and Growing Up: A Multidisciplinary Approach to the Humanities and Culture Natalie Goldman WGU 07/14/2014 Adulthood and Growing Up: A Multidisciplinary Approach to the Humanities and Culture One of the most fundamental themes in art and culture is the development of the individual from childhood and adolescence‚ into adulthood. This transformation from a boy or girl‚ to a man or woman is one of the most essential and significant themes that run through the gamut of any
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Setting up a database 1. Introduction In order to complete my client’s needs I created a database and I started my work with Word Access 2010. This is how it looked at the beginning as I started my work today on the 5th of the October 2010. Today was our starting point for creating my clients database. The screenshot above shows that I opened Access 2010 to begin creating my clients database. 2. Creating tables‚ setting fields + deciding on data types. Once Microsoft Access was open
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300W Protest Song ‚ Artist Blow up the pokies – The Whitlams “Blow up the pokies” was released in 2000 written by Tim Freedman‚ the lead singer of “The Whitlams”. As the name suggests he is writing about gambling issues in general but also more specifically Sydney. It is obvious that he is singing about Sydney due to his context of living on the Northern beaches throughout his life and their whole band is based in Sydney‚ furthermore the Album in which the song was released in
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“Light Up Nippon” I was watching on the television on how the tsunami eaten up the Japan on March 2011; devastating numerous cities and killing thousands of people whether young or old‚ poor or rich. After the incident‚ you could see the buildings‚ houses‚ establishments and infrastructures that were once standing tall‚ firm and beautifully constructed were now on the floor scattered into pieces‚ destroyed and wrecked. It doesn’t take a person to realize how the resident of Japan felt after the
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that we know it is crying out for a solution. So many people are wasting so much time in staying up late at night. But the truth of the matter is that this phenomenon is not homogenous. There are three kinds of staying up late: (1) Staying up late to worship Allaah. This is the worthy kind of staying up. It includes staying up for reasons that are of benefit to the Muslims in general‚ such as staying up to pray (qiyaam al-layl) and read Qur’aan. Allaah says (interpretation of the meaning): “They used
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The Ups and Downs of the NYSE Abstract This paper uses an online dataset provided by our Econometrics class that shows the fluctuation in price as well as the return on investments found in the New York Stock Exchange over a certain period of time. In this paper I will demonstrate through the use of Gretl how the return on investment affects the future price of the investment. As well as why fluctuations in price are directly affected by the returns of the investment. Keywords: Price‚ Returns
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