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What is the consequence of a winding up order in terms of legal proceedings against the company?
  • a)
    All legal proceedings against the company are automatically stayed.
  • b)
    Legal proceedings can continue only with the approval of the Court.
  • c)
    Legal proceedings can continue without any restrictions.
  • d)
    Legal proceedings are transferred to a different jurisdiction.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What is the consequence of a winding up order in terms of legal procee...
Once a winding up order is made, no new legal proceedings can be initiated against the company without the Court's permission. Additionally, existing legal proceedings may need the Court's approval to proceed further. This provision ensures that the winding up process is not hindered by various lawsuits against the company.
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What is the consequence of a winding up order in terms of legal proceedings against the company?a)All legal proceedings against the company are automatically stayed.b)Legal proceedings can continue only with the approval of the Court.c)Legal proceedings can continue without any restrictions.d)Legal proceedings are transferred to a different jurisdiction.Correct answer is option 'B'. Can you explain this answer?
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What is the consequence of a winding up order in terms of legal proceedings against the company?a)All legal proceedings against the company are automatically stayed.b)Legal proceedings can continue only with the approval of the Court.c)Legal proceedings can continue without any restrictions.d)Legal proceedings are transferred to a different jurisdiction.Correct answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the consequence of a winding up order in terms of legal proceedings against the company?a)All legal proceedings against the company are automatically stayed.b)Legal proceedings can continue only with the approval of the Court.c)Legal proceedings can continue without any restrictions.d)Legal proceedings are transferred to a different jurisdiction.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the consequence of a winding up order in terms of legal proceedings against the company?a)All legal proceedings against the company are automatically stayed.b)Legal proceedings can continue only with the approval of the Court.c)Legal proceedings can continue without any restrictions.d)Legal proceedings are transferred to a different jurisdiction.Correct answer is option 'B'. Can you explain this answer?.
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