Adjudication order-adjudication of debtor, Financial Accounting

Adjudication order

The court may adjudge the debtor bankrupt on the application of the O.R. or any creditor in the following cases:

If the creditors so resolve at their first meeting, or pass no resolution, or do not meet at all;

  1. If a composition or scheme is not approved within 14 days after the conclusion of the public examination, or such further time as the court may allow;
  2. If the debtor applies to be made bankrupt;
  3. If there is no quorum at the first meeting of the creditors;
  4. If the debtor has absconded or does not intend to propose a composition or scheme;
  5. If the public examination is adjourned sine die;
  6. If the debtor fails without reasonable cause to submit his statement of affairs;
  7. If a composition or scheme is annulled by the court.
Posted Date: 12/12/2012 6:32:19 AM | Location : United States







Related Discussions:- Adjudication order-adjudication of debtor, Assignment Help, Ask Question on Adjudication order-adjudication of debtor, Get Answer, Expert's Help, Adjudication order-adjudication of debtor Discussions

Write discussion on Adjudication order-adjudication of debtor
Your posts are moderated
Related Questions
Equity shareholders, potential and present, seem primarily to the company's record of earnings. They are thus interested in relationships as earnings per share or EPS and dividends

Assume that prices and wages adjust rapidly so that the markets for labor, goods, and assets are always in equilibrium. What are the effects of each of the following on real money

Q. What do you mean by Franchise? Franchise - Legal arrangement whereby owner of a franchisor, trade name, contracts with a party who wants to use the name on a non-exclusive b

i have some homework that need help

A lawn care company started business on January 1, 2012. The company billed clients $105,000 for lawn care services completed in 2012. By December 31, the company had received $84,

how to treat salary compensation given to an employee how to show this in company account

The managerial performance measure must be quantitative and the manner in which it is to be calculated should be specified. The managerial performance measure must ideally be linke

Exceptions to the rule of lapse There is no lapse in either of the following cases: 1. Where the gift or disposition is made in discharge of a moral obligation recognised by t

Q. Show example on Ratio calculations? The current gearing of Springbank plc = 100 × (3·5m/4m) = 87·5% Total debt after issuing $3·4m of debt = 3·5m + 3·4m = $6·9m New le

what if 50% of customers who switch from pisa pizza who switch from original pizza to healthier pizza then switch to another brand from healthier pizza.