answersLogoWhite

0

What else can I help you with?

Related Questions

What is a balance order?

An order obtained by a liquidator making a call on contributories in the course of the winding up of a company.


Explain briefly the different modes of winding up of a company?

Modes of Winding Up of CompaniesAs per Section 425 of the Act, the modes of winding up are:Compulsory Winding up by the court. Members' Voluntary winding up.Creditors' Voluntary winding up.Voluntary winding up,Winding up subject to supervision of the court.MODES OF COMPANIES WINDING UPCompulsory Winding-up by the CourtThe court may wind up a Company:a. if the company has, by special resolution, resolved that the company should be wound up by the court;b. if default is made in delivering the statutory report to the Registrar or in holding the statutory meeting;c. if the company does not commence its business within a year from its incorporation, or suspends its business for a whole year;d. if the number of members is reduced, in the case of a public company, below seven, and in the case of a private company, below two;e. if the company is unable to pay its debts;f. if the court is of the opinion that it is just and equitable that the company should be wound up.The 'just and equitable' clause effectively makes the powers of the court unlimited. In a normal situation, the court might order the winding-up of a company in situations such as a deadlock in the business or continuous losses eroding the capital.Voluntary Winding-upA voluntary winding-up may be made on any one of the following grounds:(a) when the period, if any, fixed for the duration of company by its articles, has expired;(b) an event has taken place, on the occurrence of which the articles provide that the company is to be dissolved;(c) if the company passes a special resolution that the company should be wound up voluntarily (section 484(1) of the Act).In circumstances (a) and (b), an ordinary resolution passed in a general meeting for winding-up is sufficient.A voluntary winding-up may be(a) a members' voluntary winding-up,(b) a creditors' voluntary winding-up.The members' voluntary winding-up may be resorted to only when the directors or the majority of the directors, are able, at a meeting of the board, to make a declaration verified by an affidavit, to the effect that they have made a full inquiry into the affairs of the company, and that, having done so, they are of the opinion that the company has no debts, or that it will be able to pay its debts in full within such period (not exceeding three years) from the commencement of the winding-up as may be specified in the declaration (section 488 of the Act). In circumstances where the company is not solvent, it cannot be wound up by way of members' voluntary winding-up and it must resort to a creditors' voluntary winding-up. The procedure for a creditors' voluntary winding-up is that the company causes a meeting of the creditors' voluntary winding-up is that the company causes a meeting of the creditors of the company to be called for the day, or the next following day, on which the general meeting of the company is to be held at which the resolution for winding-up is to be proposed, and causes notices of the meeting of creditors to be sent to the creditors by post, simultaneously with the sending of the notices of the general meeting of the company (section 500 of the Act). The creditors and the company at their respective meetings may nominate a person to be the liquidator for the purpose of winding up the affairs and distributing the assets of the company.Winding-up subject to the Supervision of the CourtAfter the company has passed a resolution for voluntary winding-up, the court may make an order that the voluntary winding-up shall continue, but subject to the supervision of the court and with such liberty for creditors, contributories or others to apply to the court, and generally on such terms and conditions as the court thinks just (section 533 of the Act). Thus, a voluntary winding-up can e converted into a winding-up subject to the supervision of the court, on terms and conditions imposed by the court.


What is compulsory winding up of a company?

When a company is required by law to wind up its operations, this is referred to as compulsory winding up or winding up by a Tribunal. The Tribunal refers to the National Company Law Tribunal in this context. This can be decided in a court of law or in the form of a court order. In the above instance, the company is compelled to appoint a liquidator. The liquidator will be in charge of managing the sales of the company and all of its assets, as well as distributing all assets following the liquidation among all creditors.


Do you have to use online banking if you order something online?

you can use a credit card or cheque, depending on the company


Can a company that files bankruptcy stop payment on checks issued before the bankruptcy?

Obviously they can issue a stop on checks in normal course of business. But, any check outstanding at filing....WILL NOT BE HONORED...the court immeadiately stops and holds the banking accounts of the filing company...those assets are part of the bankruptcy...as is any uncashed check. The no payment order isn't from the Company...it is part of the operation of law.


is business banking better to have as in better rates and longer term things or is in just a waste of time.?

Business banking is worth having if you own a business. There are definitely rules and regulations that you will need to follow in order to comply on your taxes. Your rates are better depending upon the banking service you use and how long you have been banking with the company you choose.


What is a interim accounting order?

A temporary order issued before the final order is issued or or made.


Which winding has the higher resistance start or run in single phase motors?

start winding is thicker with less number of winding whereas run winding is less thicker than start winding but with more number of winding. As we know inductance depends upon numbers of turns of winding so run winding will have more inductance.


What is the difference between po and a invoice?

Purchase Order :- Purchase order is a document indicating types, quantity of products and services issued by a buyer or seller. It details the items the buyer agrees to purchase for a certain price. Invoice :- Invoice is a document issued by a seller to a buyer indicating items sold, prices, date of shipment, delivery and payment terms. It is also called as a "bill", "statement" or "sales invoice" For in depth differentiation, you may refer invoicera.com/blog/invoice-software/difference-between-a-purchase-order-and-an-invoice/


What is a corporate banking?

Corporate banking is banking services that are designed for businesses. These products will require larger deposits in order to avoid fees.


Sent in money order for payment but the COMPANY says they never received it but the money order has been cashed?

Money orders are one of the safest ways to safeguard yourself from fraudulent companies or theft. If you have the receipt for your money order you can contact the company that issued the money order to see when, where, and who cashed the money order. You should file a police report and make a claim with the money order company to get compensation.


What are some toys with winding mechanisms?

Toys that contain a winding mechanism can range from toy trucks with a pulley, to toy cars. Toy cars with winding mechanisms can be winded up and released in order to burst into speed.