Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / naman
Under Companies Act, liquidation of a company facing
financial distress can be accomplished via two modes:
voluntary liquidation by creditors or involuntary
liquidation by court. In the first and the more efficient
case of voluntary liquidation, shareholders vote for
liquidation and hand over control of the liquidation process
to secured creditors, who then hire a private or an official
liquidator to oversee the asset sales and distribution of
proceeds. In the second case, a creditor with a minimal
amount of Rs. 500 of unpaid and undisputed debt, after
giving three weeks’ notice to the debtor, can petition the
court for involuntary liquidation, in which case, the court
will determine the validity of the claim and the
reasonableness of the petition before ordering liquidation.
However, the court’s actions are purely discretionary and
“the court may refuse to hold the company insolvent on other
considerations including that of public interest”
| Is This Answer Correct ? | 11 Yes | 4 No |
Post New Answer View All Answers
can a bill discounted be endorsed without acceptance .
Should the law be black and white, or should it be flexible enough to look at each case on an individual basis?
What is difference between India and Hindustan according to law and geography.
If a baby in shopping centre was strapped with a bomb, would you shoot the baby to save 1 person? 100 people?
How you will react if you find that someone you work with does not like you?
Why you want to work with the Prosecutor's Office?
HOW WE CAN RUN THE CLASS BY COMUNICATION MATHOD?
How to registered music company
Essential to community prosecution is community involvement, which would persuade judges to give greater sentences to those who continually commit crimes in certain areas. How you generate community support?
Modalities in transfer of work orders of India
will you consider yourself to be a patient person?
To what extent did the NSA revelations impact on the British public?
How would you decide on your objectives?
how to paid vat return file prosisior pls find me it
Bank wrongly cleared cheque which comes in clearing after request for stop payment by the saving bank account holder. Account holder repay 3 lac out of 11 lac withing 15 months. Now bank file case in DRT by charging intrest 18% to file case with the DRT. My question is whether bank can file case with DRT under DEBT act? Can Saving account holder can file case against the bank in counsumer court since he is paying amount in installment to bank even he prior request to bank not to clear this cheque.
