Corporate lawyers in Chennai offer legal support for winding up a company. This service can be essential for companies in distress. It allows them to liquidate assets and pay off debts without further complications. Rajendra Law Office, Advocates, and Attorneys is one of the leading corporate law firms in Chennai and offers this service. Do you need legal help in Chennai or anywhere else in Tamil Nadu? contact the Rajendra Law Office for professional guidance. You will be happy with the level of service you receive here. Winding up of a company legal procedure The “winding up” of a company is a legal procedure that companies use to end their operations. It involves the sale of company assets and distributing the proceeds to creditors. The process can take place on a voluntary basis or as a court-ordered procedure. In a voluntary winding up, members of the company may pass a resolution that the company be wound up and that a liquidator is appointed. The liquidation will then commence, and the company must give notice of the start of the winding up to its creditors. A voluntary winding up is a relatively simple process. Moreover, it finds uses in both public and private companies. This type of winding up can be triggered by shareholders or contributors, who believe that the company is insolvent and cannot pay its debts. Voluntary winding up of Companies When this happens, the creditors of the company can file a court case against it. There they will […]
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Find the Indian Courts and Its Jurisdiction Indian Courts and Jurisdiction: The Supreme Court has original jurisdiction, appellate, and advisory in the first place. Its exclusive original jurisdiction includes disputes between the Center and the State(s) as a matter of fact. Or between the State and matters concerning the enforcement of the fundamental rights of individuals in like manner. Supreme Court Appellate jurisdiction of the Supreme Court may be called by a certificate issued by the High Court. It is concerned in respect of the judgment, decision, or final orders of the High Court. It is in both Civil and Criminal cases, involving large questions of law concerning the interpretation of the constitution. Supreme Court decisions are binding on all courts/courts in this country and act as an advantage to the lower courts. Under Art 141 of the Constitution, all the courts in India are bound to follow the decision of the Supreme Court as a legal requirement. High Court The High Court has jurisdiction over the United States where they are located. There are currently, 23 High Courts in India. However, the following three High Court has jurisdiction over more than one state. They are Bombay (Mumbai) High Court, Guwahati High Court, and the Punjab and Haryana High Court. For example, the Bombay High Court is located in Mumbai, capital of Maharashtra state. However, its jurisdiction includes the States of Maharashtra, Goa, and the UT of Dadra and Nagar Haveli. Especially, the High Court may exercise jurisdiction only writ […]