Introduction Pioneer Distilleries Limited‚ a subsidiary of United Spirits Limited is engaged in manufacturing of Alcohol. The factory is situated at Dharmabad of Nanded District of Maharashtra. On its growth side‚ the Company installed a new 30KLPD Ethanol Plant in the year 2004-05. Further‚ the Company has expanded its Alcohol Plant capacity from 50KLPD to 100KLPD in the year 2006-07. In the year 2010-11 the Company has set up a 60KLPD Grain Based Alcohol Facility and commissioned 4.725 MW Biogas
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Circuit city bankruptcy Circuit City Stores Inc. filed for bankruptcy protection on Monday heading into the busy holiday season as analysts question whether the nation’s second-biggest electronics retailer will be able to survive. The company said it decided to file for bankruptcy protection because it was facing pressure from vendors who threatened to withhold products during the holiday period. The company also said it cut 700 more jobs at its headquarters‚ after announcing a week ago that
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important that people get to have some knowledge on How to stop GC services from garnishing your wages and bank account. The first and foremost thing one has to do to avoid being subject to garnishing is – respond to their calls. Whenever there is debtor who has some unpaid debts against his name‚ the GC services try to reach them and check on what is happening. They get really annoyed when they find you not answering calls at all‚ after all it was you who spent all the money and are answerable for
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Section 176 of Companies Act 1965. By. Kartikayen Supramaniam. In Malaysia companies Act 1965 (CA)‚ is one of the vital statutes which govern and regulate the formation and operation of a company. All the sections in this statute govern each and every part of company governance. In this case section 176 of Companies Act plays a very important role on arrangements and reconstruction of a company when the company heavily burdened with debt. Financial crisis is the most dangerous and a serious disadvantage
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Loewen Group Over the last two decades Loewen Group‚ a death care provider‚ had been growing by acquiring small independent funeral homes and cemeteries in densely populated areas but in recent years the company had also acquired several large established funeral chains. Over the last five years alone‚ Loewen had embarked on an aggressive growth strategy which accounted for consolidated revenues’ growth of nearly 30% a year on average from $303 billion to over $1.1 billion. This growth through
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Overspending Leads to Bankruptcy Rebecca Wilcox BLA 303 ABSTRACT: Never before in history has there been so many different things to buy‚ or so many places to buy them from. We are constantly bombarded everywhere with messages telling us that we need to have the latest products being touted. All around us are constant opportunities to purchase every kind of bauble‚ gadget‚ or toy. In spite of a slumping economy‚ American people are still shopping with a fervent passion. In recent times‚
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One of the responsibilities as a paralegal is to conduct research. There is a list of basic and useful resources for practitioners and law students to utilize in researching a bankruptcy. The primary sources are Statues‚ Rules and Cases. The secondary Sources are Bankruptcy Treatises‚ Internet Sources and Research Databases also known as Bankruptcy Reporter Systems. All these resources are relevant to explain the process in which each is needed to research bankruptcy issues. A statute is a codification
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A Chapter 7 bankruptcy is a(n) Liquidation Where should a company undergoing reorganization report the gains and losses resulting from the reorganization? on the income statement‚ separate from other gains and losses. How should liabilities (except for deferred income taxes) be reported by a company using fresh start accounting? at the present value of future cash payments. Which one of the following unsecured liabilities has the highest priority when an insolvent company is about to be liquidated
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Integrity and Departmental Image As public officers in disciplined service‚ we need high level of integrity at all time. When we are going to make decision we should think of ourselves were on-duty for 24 hours. However‚ that police officer obviously didn¡¦t carry such mindset. He made several fraudulent invoices to defraud his supervisor in 2001. And in 2003‚ he offered to sale his police warrant card‚ which constitute theft. Both charges show that this officer lacks the alertness and awareness
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The procedure for creditor’s voluntary winding up: i) A board meeting convene by the company’s directors to decide on the date of the EGM and creditor’s meeting. These meeting must be held within one month from the date of statutory declaration (Form 65A) ii) The directors make a statutory declaration of Form 65 (statutory declaration of inability of company to continue business and that meetings of the company and its creditors have been summoned) and lodged with the CCM. iii) The Company’s director
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