Winding up of Company Section 425 of the Companies Act‚ 1956‚ deals with the winding up of companies. Winding up of company is a legal procedure to dissolve the company and put an end to its life. The company ceases to be a ‘going concern’. The term winding up is defined as‚ ‘the process by which the life of a company is ended and its property is administered for the benefit of its members and creditors.’ During the process of winding up‚ the assets of the company are sold and all the debts
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MAE JEMISON FIRST AFRICAN AMERICAN FEMALE IN SPACE. EARLY LIFE • Mae Carol Jemison was born October 17‚ 1956 in Decatur‚ Alabama. • At the age of three‚ her and her family moved to Chicago. • For high school‚ Jemison attended Morgan Park. Here is where she realized she wanted a career in biomedical engineering. • She attended Stanford University on a National Achievement Scholarship. • As she had been in high school‚ Jemison was very involved in extracurricular activities at Stanford‚ including
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Consequences of Winding Up Upon the commencement of winding up proceedings‚ the following consequences shall apply: 1. The business of the company ceases from the commencement of the winding up‚ except so far as the liquidator thinks is necessary for the beneficial winding up of the company. In such an event‚ every invoice‚ order for goods or business letter issued by the company must have the words “in liquidation” added after the name of the company. The liquidator has no power to carry on
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1 Acknowledgement 2 Findings Misstated Amount Due in Statutory Demand 3-5 Number of Members is Reduce Lower than Two 6-8 Voluntary Winding Up 9-10 Compulsory Winding Up 11-12 SCENARIO Anggun‚ Bromley and Chumbee and some friends have set up a business known as ABC Bhd which dealt with coffee drinks. Within five years
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Problem 1 The client shows symptoms of Iron deficiency anemia‚ evidenced by the preliminary work up and symptoms. Microcytic anemia is defined as the presence of small‚ often hypochromic‚ red blood cells in a peripheral blood smear and is usually characterized by a low MCV (less than 83 microns). Iron deficiency is the most common cause of microcytic anemia. The absence of iron stores in the bone marrow remains the most definitive test for differentiating iron deficiency from the other microcytic
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DEFINITION OF WINDING UP OF A COMPANY Winding up or liquidation of a company is the ending of a company’s life; its property administered for the benefit of its creditors and members. At the end of the winding-up‚ the company will be dissolved. There are two main types of winding up: compulsory‚ under and order of the court; and voluntary‚ under resolution of the company. VOLUNTARY WINDING UP In a voluntary winding-up‚ the members of the company have passed a resolution to wind-up the company
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DISSOLUTION AND WINDING UP DISSOLUTION - change in the relation of the partners caused by any partner ceasing to be associated in the carrying on of the business; partnership is not terminated but continues until the winding up of partnership affairs is completed WINDING UP - process of settling the business or partnership affairs after dissolution CAUSES OF DISSOLUTION: 1. Without violation of the agreement between the partners a. By termination of the definite term/ particular undertaking
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Fannie Mae case. Federal regulators noted a growing string of high profile scandals at major U.S. corporations in recent years. The number of fraud cases investigated by the Securities and Exchange Commission jumped 41 percent in the last three years (112 cases in 2001 compare to 79 cases investigated in 1998)‚ resulting in tens of millions of dollars in fines to settle the charges. I have decided to take a closer look at Fannie May. This company operates in the residential mortgage finance industry
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Mae C. Jemison Her Birth Mae C. Jamison was born in on October 17‚ 1956 in Decatur‚ Alabama. She was the youngest child to Charlie Jemison and Dorothy Green. Her father was a maintenance supervisor for a charity and her mother was a elementary teacher. When Mae Jemison was three years old when her parents moved to Chicago‚ Illinois so there kids can get a better education. At a very young age Mae Jemison expressed an interest in science and astronomy. In elementary she was asked what she wanted
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Mortgage Association (FNMA) (NYSE: FNM)‚ commonly known as Fannie Mae‚ is a stockholder-owned corporation chartered by Congress in 1968 as a government sponsored enterprise (GSE)‚ but founded in 1938 during the Depression. Contrary to some beliefs‚ Fannie Mae does not make home loans directly to consumers‚ but rather functions as an intermediary in the U.S. secondary mortgage market. By purchasing and securitizing mortgages‚ Fannie Mae facilitates liquidity in the primary mortgage market by ensuring
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