Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Avoidance of Floating Charges:
Under s.314 liquidation automatically renders void any floating charge created within the period of 12 months before commencement of liquidation subject to the following exceptions:
(a) valid if the company was solvent at the time when the charge was created. A company is not solvent unless it can pay its debts in full as they fall due;
(b) if the company was not solvent the floating charge is still valid as security for cash paid to the company (with interest at six per cent per annum) after the charge was created and in consideration of the loan.
The general purpose of the rule is to prevent an unsecured creditor of an insolvent company from getting advantage over other creditors by obtaining a floating charge to secure an existing debt at a time when the company is heading towards insolvent liquidation. It is only the charge (as security) not the debt itself which becomes void.
Realization of Auditors: it is a mere truism to say that the value of loans and securities depends on their realization. We were told that a statement to that effect, is so u
State the issues relating to the public policy We shall focus on the issues relating to the public policy in an open economy setting in a bit more technical way. While approac
Classification of Precedent So as a precedent may also be classified as like; An original precedent whether it is one that creates and applies a new legal rule; o
Supervisory Jurisdiction and Admiralty Jurisdiction Supervisory Jurisdiction However the High Court has jurisdiction under S.65 (2) of the Constitution to supervise a n
John owns a 1951 Mercedes Sl that he wishes to sell. He instructs Ross to sell the car, and in return, will be paid £5,000 commission. Ross manages to find a buyer, Paul, Paul and
Which treaty established by the United Nations The UN Charter is a treaty established by the United Nations. There are three types of treaties: law making treaty; codifying tr
Illustrate the example of the Policy Clustering Countries democratize because of political or economic pressures within their country pressures that exist simultaneously for le
Suing and being Sued: Because a company is at law a different person altogether from its members it follows that a wrong to, or by, the company does not legally con
Liability: The secretary is an officer of the company and thus he owes fiduciary duties to the company which are similar to those of a director, eg. he must act in
Q. Publication of list of repeat offenders ? As a part of the joint education campaign option, or separate to the education campaign, a ‘naming and shaming' approach could also
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd