What is a ‘Declaration of Solvency’? When and by whom need it be filed? What would happen if the declaration of solvency is proved to be false? . [November, 1993]
9. Explain the provisions of the Companies Act, 1956 regarding overriding preferential payments. [November, 1993]
10. Under what circumstances may a company be ordered to be wound up on ‘just and equitable’ ground? [May, 19931
11. A company was formed mainly with the object of acquiring the business of a firm engaged in plying steamers. The business was acquired but later on due to serious differences between the Directors, seven out of nine steamers acquired were returned. A shareholder files a petition to the Court for the compulsory winding up of the company on the ground of loss of substratum. Would he
succeed? [May, 19931
12. Explain the nature and extent of the liability of a contributory.
[November, 19921
13. Under what circumstances may a company be wound up voluntarily? When does such a winding-up commence? What is the effect of voluntary winding-up on the status of the company? What are the requirements of the Companies Act with regard to the publication of the ‘resolution to wind up a company
voluntarily’? [May, 19921
14. Distinguish between:
(i) ‘Members’ Voluntary Winding Up and ‘Creditors’ Voluntary Winding Up’.
[November, 19921
(ii) Revival and Restoration of a dissolved company.
[November, 19921
