Das vergangene Geschftsjahr war geprgt durch die Aktivitten des Unternehmens zur weiteren Internationalisierung des operativen Geschfts und zur Weiterentwicklung der Organisation des Unternehmens Darber hinaus gaben die im Verlauf des Jahres immer sichtbarer werdenden Auswirkungen der Finanzmarktkrise auf die Gesamtwirtschaft Anlass, mgliche Rckwirkungen dieser Entwicklung auf die Geschftsentwicklung der Gesellschaft mit besonderer Aufmerksamkeit zu beobachten Der Aufsichtsrat hat diesen Prozess und diese Entwicklungen einschlielich der damit einhergehenden Vernderungen der fr die Gesellschaft The past financial year was characterized by the company's activities to further internationalize the operative business and by the further development of the organization of the company Furthermore, the increasingly visible effects of the financial market crisis on the overall economy provided an occasion to pay particular attention to how this development may impact the company's business The Supervisory Board actively assisted in this process and in this development, which also included changes in the company's risk Mit Bezug auf die keineswegs schlechten Gymnasiasten kann Hurrelmann feststellen: "Die leistungsstarken Schler beklagen - ihren eigenen Angaben zufolge - eher, da sie zwar das System der Anforderungen seiner Struktur und Dynamik nach durchschauen und sich auch meist mhelos danach verhalten knnen, ihnen aber der "tiefere Referring to by no means poor high-school pupils, Hurrelmann states: ' The high-achieving pupils rather complain - according to their own statements - that they understand the system in its demands with regard to structure and dynamics and that they can usually conduct themselves accordingly without any difficulties, but that the "deeper meaning" of the whole Die hochrangige Expertengruppe sprach darber hinaus noch mehrere andere Empfehlungen aus, die die Verantwortung der Direktoren strken sollen: a) Einfhrung eines Rechts auf Sonderprfung, das Aktionre, die einen gewissen Anteil am Aktienkapital halten, in die Lage versetzen wrde, bei einem Gericht oder einer Verwaltungsbehrde eine Sonderprfung zu beantragen; b) Ausarbeitung einer Regelungwrden, wenn sie sich bei absehbarer Zahlungsunfhigkeit des Unternehmens weder zu seiner Rettung und zur Zahlung der ausstehenden Verbindlichkeiten noch zur Konkursanmeldung entschlieen; c) EU-weites Verbot der Ttigkeit als Direktor als Strafe fr irrefhrende Unternehmensabschlsse oder Erklrungen oder sonstige Formen von Fehlverhalten.

The High Level Group made several other recommendations designed to enhance directors responsibilities : a) introduction of a special investigation right, whereby shareholders holding a certain percentage of the share capital should have the right to ask a court or administrative authority to authorise a special investigation into the affairs of the company; b) development of aif it is foreseeable that the company cannot continue to pay its debts and they don't decide either to rescue the company and ensure payment or to put it into liquidation; c) imposition of directors' disqualification across the EU as a sanction for misleading financial and non-financial statements and other forms of misconduct by directors.

jeder Erwerber von teilweise eingezahlten Aktien, der sie im Rahmen eines Zertifikats erworben hat, auf dem die Tatsache der teilweisen Einzahlung vermerkt ist, und jeder Erwerber der Aktien (mit Ausnahme des Erwerbers, der sein Eigentumsrecht ber einen Inhaber in gutem Glauben unwissentlich herleitet und der bezglich der Ausgabe der Aktien nicht an einem Betrug beteiligt ist), der sie in der unmittelbaren Kenntnis erworben hat, dass die volle vereinbarte Gegenleistung nicht zu dem auf dem Zertifikat fr die Aktien aufgefhrten Ausma eingezahlt ist, ist der Corporation fr die Every transferee of partly paid shares who acquired them under a certificate showing the fact of part payment, and every transferee of the shares (other than a transferee who derives title through a holder in good faith without knowledge and who is not a party to any fraud affecting the issue of the shares) who acquired them with actual knowledge that the full agreed consideration had not been paid to 2.1 die Person persnlich vorgeladen wurde oder nach dem innerstaatlichen Recht des Entscheidungsstaates ber einen befugten Vertreter rechtzeitig ber den vorgesehenen Termin und Ort der Verhandlung, die zu dem Abwesenheitsurteil gefhrt hat, sowie ber die Tatsache unterrichtet wurde, dass ein solches Urteil ergehen kann, wenn die Person nicht vor Gericht erscheint 2.1 die Person unmittelbar persnlich vorgeladen wurde oder auf andere Weise tatschlich rechtzeitig offiziell in einer ihr verstndlichen Sprache nach dem innerstaatlichen Recht des Entscheidungsstaates ber den vorgesehenen Termin und Ort der Verhandlung, die zu der Einziehungsentscheidung gefhrt hat, unterrichtet wurde, und zwar auf eine Weise, dass zweifelsfrei nachgewiesen wurde, dass die betreffende Person von der anberaumten Verhandlung Kenntnis hatte und persnlich darber unterrichtet wurde, dass eine solche Entscheidung 2.1.

the person was summoned in person or informed in accordance with the national law of the issuing Member State through a competent representative and in due time, of the scheduled date and place of the hearing which led to the decision rendered in absentia and informed about the fact that such a decision may be handed down in case the person does not appear for the trial 2.1.

# Income-Tax # Family law # Company Law # Constitutional Law # Partnership firms # Immigration Law # Cyber Law # Lok Adalat, legal Aid & PIL # Forms # Trademarks # Woman issues # Medico Legal # Consumer laws # Criminal laws # Supreme Court Judgments Winding up of a company is defined as a process by which the life of a company is brought to an end and its property administered for the benefit of its members and creditors.

In words of Professor Gower, “Winding up of a company is the process whereby its life is ended and its Property is administered for the benefit of its members & creditors.

b) Any securities held by a FII which has invested in such securities in accordance with the regulations made under the SEBI Act, 1992.

However, the term ‘capital asset’ shall exclude the following: a) Stock-in-trade, consumable stores, raw materials held for the purpose of business or profession; b) Movable property held for personal use of taxpayer or for any member of his family dependent upon him.

In 1872 Pullman purchased two-thirds of the capital stock of this company. 1884 Pullman started operations in Mexico; providing service between El Paso and Mexico City. 1886 The shops at Elmira, NY were abandoned and a new shop at Wilmington, DE was established. Pullman sold 2200 shares of Allen Paper Car Wheel Co. 1888 Sherwin-Williams purchased a controlling interest in the Calumet Paint Co. 1894 Assets of the Union Foundry and Pullman Car Wheel works were sold to Pullman and the bill of sale was executed October 1st. acquired the outstanding shares of Pullman Land Association for cash or in exchange for its own stock. had acquired the 16,042 outstanding shares of Pullman Land Association for cash or in exchange of its own stock. 1899 Pullman purchased the property of Pullman Iron & Steel Co. 1900 Corporate name changed to The Pullman Company. Among other products turned out during WWII were M-3 and M-4 tanks. and Pullman land Association was paid as a dividend to Pullman Inc. was donated to Pullman-Standard Car Manufacturing Co. substantially all of the assets of The Trailmobile Co.

not being more than 6 KMs , if population of such area is more than 1 lakh but not exceeding 10 lakhs; or iii.

not being more than 8 KMs , if population of such area is more than 10 lakhs.

An Administrator, called a liquidator is appointed and he takes control of the company, collects its assets, pays its debts and finally distributes any surplus among the members in accordance with their rights Winding up is a proceeding by means of which the dissolution of a company is brought about & in the course of which its assets are collected and realised; and applied in payment of its debts; and when these are satisfied, the remaining amount is applied for returning to its members the sums which they have contributed to the company in accordance with Articles of the Company.” Winding up is a legal process.

Under the process, the life of the company is ended & its property is administered for the benefits of the members & creditors.