Why does my baby wake up crying overnight?
What are the suggested grounds for just and equitable winding up tick all that apply?
Notes of Decisions
- Circumstances in which just and equitable considerations arise.
- Cases where the just and equitable winding up remedy is available.
- Loss of substratum.
- Exclusion from management.
What are the grounds for winding up a company?
6 Grounds on which a Court can Order a Winding up of a Company in…
- Passing of special resolution for the winding up: …
- Default in holding statutory meeting: …
- Failure to commence business: …
- Reduction in membership: …
- Inability to pay debts: …
- Just and equitable:
What is the instance where the just and equitable clause for winding up can be adopted by the tribunal?
winding up can be adopted by the Tribunal. oppression of minority by the majority. inability to pay debts. commercial insolvency.
What is a just and equitable winding up?
A ‘just and equitable winding up petition’ is a bespoke petition that is designed to deal with a range of shareholder disputes in a company. If there has been a breakdown in mutual trust and confidence which is impeding the management of a company, a shareholder may petition to have the company wound up.
What is just and equitable in company law?
A just and equitable ground is a ground that the court of law can enforce for winding up a business that can no longer run the business properly and fulfil its motive of profit-making and providing services to its customers.
Which of the following are grounds of compulsory winding up?
Failure to hold Statutory Meeting: If the company fails to hold the Statutory Meeting and fails to file the Statutory Report, the Registrar can present a petition for an order of winding up.
When would it be just and equitable for Nclt to wind up a company?
2. The company would be wound up if Tribunal is of the opinion that it is just and equitable that it should no longer remain in function. With the passing of Insolvency and Bankruptcy Code, grounds of inability to pay debt and winding up under have been deleted.
What is the winding up remedy?
Section 461(1)(k) of the Corporations Act enables the Court to wind up a company if it believes it is ‘just and equitable’ to do so. This provision is commonly used in situations where a minority shareholder is facing oppressive conduct from a majority shareholder.
What are equitable grounds?
Filters. Equitable grounds for recovery is defined as situations where it is believed to be fair to allow someone to recover damages in a court case.
What is just and equitable?
It means a matter is solved not only according to the strict orders of the law, but complies with the principles of justice and works each unique case. … Being Just means it is morally right and fair. In the law, this goes hand in hand with being outcomes being equitable.
Who can file petition for winding up of company?
Any creditor or creditors of the company may present a petition to the Court for winding up, alleging that the company is unable to pay the debts of the creditor in the manner specified in section 433 or 434.
What is meant by compulsory winding up?
Compulsory winding up takes place when a creditor of an insolvent company asks the court for a wind up. If the company goes into liquidation, the court of law appoints a liquidator for the liquidation. … After the name is struck off, the company ceases to exist anymore.