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Who was the joint stock company that was formed by the puritans?
Massachusetts bay company
Objectives of a joint stock company?
The primary objectives of a joint stock company include raising capital through the sale of shares to the public, enabling ownership to be distributed among multiple shareholders. This structure allows for limited liability, meaning shareholders are only responsible for the company's debts up to the amount they invested. Additionally, joint stock companies aim to facilitate the pooling of resources for large-scale projects and foster growth and expansion through reinvestment of profits. Ultimately, they seek to maximize shareholder value while maintaining sustainable business practices.
What is the importance of joint stock companies?
because without stocking up on joints, companies tend to get cranky
What is the joint stock company and what role did this type of company play in the creation of colonies?
In a joint stock company a group of investors join together and pool their resources. Each one contributes some money. The money is used for the expenses of the company to purchase whatever the company needs. It may be a factory, a ship, some land, or something else. Originally it involved the purchase of a ship. When the ship brought cargo back to England, the cargo and ship were sold, and the stockholders split the money among them according to the original investment. The East India Company set up as a joint stock company. It brought back a load of pepper. The company decided to just sell a little bit at a time and keep the price high so the price would remain high. It became a continuous operation. Individual stock holders could sell their shares in the company. The Virginia Company organized like the East India Company. It bought land from the King. It paid money to set up a colony. It paid for provisions for the first colonists. The colonists would also need to build houses and plant crops. After seven years, half of the houses and fields would belong to the colonists and half to the Virginia Company. The Virginia Company could then sell those houses and fields to other colonists. Soon the King bought the stock in the Virginia Company from the stockholders and Virginia became a royal colony. The Plymouth Company started the same way. Rhode Island and Connecticut took their charter across the Atlantic so the King could not take it away from the company.
Who set up the colony Jamestown?
Jamestown was not founded by one person, it was joint-stock chartered. A bunch of men would put "stock" [money] into sending men to the New World to find resources such as gold. If the settlement worked out, then the joint-stock owners would get more money.
Did the joint stock company was contract giving its holder the right to establish a colony?
False a joint stock company is a company backed up by its owners
Benefits of winding up of a company?
benefit of winding up
How do you form a joint-stock company?
A joint-stock company is a pooling of resources by investors who want to start a venture. Gather some like minded investors and set yourself up as a company in conformance with the law of your country.
What do you mean by compulsory winding up of a company?
What do you understand by "compulsory" and "voluntary" winding up of a company
Modes of winding up of company?
there are three modes of winding up of a company:- 1. winding up by the court i.e., compulsory winding up(sec433 to 483) 2. voluntary winding up (sec. 484 to 521). this may be- (a) members voluntary winding up. (b) creditors voluntary winding up. 3. winding up subject to supervision of court.
Who was the joint stock company that was formed by the puritans?
Massachusetts bay company
What is Important of joint stock company?
because without stocking up on joints, companies tend to get cranky
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.
Can someone explain a winding up petition?
"For a business, a winding up petition is about the same as a bankruptcy. The more common term for a winding up petition is liquidation; that is, a company is forced to end."
An order for winding up a banking company can be issued by?
The RBI
What do you understand by winding-up of a company?
dissolve a company, by the court, or voluntarily or the by the supervision of the court
Who established first cotton mill in India?
ranchodlal chhotalal and is oowned by the Ahmedabad Spinning and Weaving Company Limited, a joint-stock company.
