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Page 217

CHAPTER 20
WINDING UP BY THE COURT

THERE are three ways in which a company may be wound up. The winding up may be (1) by the Court, (2) voluntary, or (3) subject to the supervision of the Court (s. 211).

During recent years, only 11 percent. of the total liquidations have been compulsory. The remainder were voluntary. There were no supervision liquidations in 1937 and 1938.

A company may be wound up by the Court if (s. 222) :
1. It has by special resolution resolved to be wound up by theCourt.
2. Default is made in delivering the statutory report to the Registrar or in holding the statutory meeting.
3. It does not commence business within a year from its incorporation, or suspends its business for a whole year.
4. The number of its members is reduced below seven, or two in the case of a private company.
5. It is unable to pay its debts.
6. The Court is of opinion that it is just and equitable to wind it up.
A company cannot be made bankrupt.(1) Any conveyance or assignment by a company of its property to a trustee for the benefit of its creditors is void (s. 320). The Deeds of Arrangement Act, 1914, does not apply to companies. (2)
A winding-up order cannot be made in default of the delivery of the statutory report or the holding of the statutory meeting except on the petition of a shareholder (s. 224). In such a case, the Court may, instead of making a winding-up order, direct that the statutory report shall be delivered or that the meeting be held and that the costs be paid by the persons responsible for the default (s. 225).

Company not Carrying on Business.-A winding-up order will only be made on this ground if the company has no intention of carrying on business, or if it is impossible for it to carry on business.(3)

1 Bankruptcy Act, 1914, s. 126.
2 Rileys, Ltd., f_1903] 2 Ch. 590.
3 Re Metropolitan By. Warehousing Co. (1867), 36 L. J. Ch. 827.

travel books:
where is HTML where is HEAD where is TITLE THERE are three ways in which a company may be wound up. what is winding up may be (1) by what is Court, (2) voluntary, or (3) subject to what is supervision of what is Court (s. 211). During recent years, only 11 percent. of what is total liquidations have been compulsory. what is remainder were voluntary. There were no supervision liquidations in 1937 and 1938. A company may be wound up by what is Court if (s. 222) : 1. It has by special resolution resolved to be wound up by theCourt. 2. Default is made in delivering what is statutory report to what is Registrar or in holding what is statutory meeting. 3. It does not commence business within a year from its incorporation, or suspends its business for a whole year. 4. what is number of its members is reduced below seven, or two in what is case of a private company. 5. It is unable to pay its debts. 6. what is Court is of opinion that it is just and equitable to wind it up. A company cannot be made bankrupt.(1) Any conveyance or assignment by a company of its property to a trustee for what is benefit of its creditors is void (s. 320). what is Deeds of Arrangement Act, 1914, does not apply to companies. (2) A winding-up order cannot be made in default of what is delivery of what is statutory report or what is holding of what is statutory meeting except on what is petition of a shareholder (s. 224). In such a case, what is Court may, instead of making a winding-up order, direct that what is statutory report shall be delivered or that what is meeting be held and that what is costs be paid by what is persons responsible for what is default (s. 225). Company not Carrying on Business.-A winding-up order will only be made on this ground if what is company has no intention of carrying on business, or if it is impossible for it to carry on business.(3) 1 Bankruptcy Act, 1914, s. 126. 2 Rileys, Ltd., f_1903] 2 Ch. 590. 3 Re Metropolitan By. Warehousing Co. (1867), 36 L. J. Ch. 827. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 217 where is strong CHAPTER 20 WINDING UP BY what is COURT where is p align="justify" THERE are three ways in which a company may be wound up. what is winding up may be (1) by what is Court, (2) voluntary, or (3) subject to what is supervision of what is Court (s. 211). During recent years, only 11 percent. of what is total liquidations have been compulsory. what is remainder were voluntary. There were no supervision liquidations in 1937 and 1938. A company may be wound up by what is Court if (s. 222) : 1. It has by special resolution resolved to be wound up by theCourt. 2. Default is made in delivering what is statutory report to the Registrar or in holding what is statutory meeting. 3. It does not commence business within a year from its incorporation, or suspends its business for a whole year. 4. what is number of its members is reduced below seven, or two in what is case of a private company. 5. It is unable to pay its debts. 6. what is Court is of opinion that it is just and equitable to wind it up. A company cannot be made bankrupt.(1) Any conveyance or assignment by a company of its property to a trustee for what is benefit of its creditors is void (s. 320). what is Deeds of Arrangement Act, 1914, does not apply to companies. (2) A winding-up order cannot be made in default of what is delivery of what is statutory report or what is holding of what is statutory meeting except on what is petition of a shareholder (s. 224). In such a case, the Court may, instead of making a winding-up order, direct that the statutory report shall be delivered or that what is meeting be held and that what is costs be paid by what is persons responsible for what is default (s. 225). Company not Carrying on Business.-A winding-up order will only be made on this ground if what is company has no intention of carrying on business, or if it is impossible for it to carry on business.(3) 1 Bankruptcy Act, 1914, s. 126. 2 Rileys, Ltd., f_1903] 2 Ch. 590. 3 Re Metropolitan By. Warehousing Co. (1867), 36 L. J. Ch. 827. where is Server.Execute("_SiteMap.asp") %

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