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Difference between Shares and Debentures

The winding u...

Question

The winding up order shall operate in favour of all _________________.

A

The creditors of the company

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B

The contributories of the company

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C

Both (A) and (B)

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D

None of the above

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Solution

The correct option is C Both (A) and (B)
The order of winding up of the company shall operate in favour of all the creditors and all contributories of the company as if it had been made out on the joint petition of creditors and contributories.

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