VOLUNTARY WINDING UP UNDER THE SUPERVISION OF COURT

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According to section 396 of Companies Ordinance, a voluntary winding up of a company can also be carried under the strict registration of the court. 1.  Resolution At first, company has to pass special resolution for the voluntary winding up of the company. 2.  Supervision Order Following are the common grounds on which the court issues the supervision order: 1.  The liquidator performs his duty in partial manner. 2.  The winding up resolution is obtained by fraud. 3.  The liquidator does not strictly observe the rules of winding up the company 3.  Power of the Court The court has the power to appoint an additional liquidator, or to remove any liquidator. 4.  Dissolution After the supervision order is made, the liquidator may exercise his powers in winding up of a company.  On completion of winding up, the court will make an order that the company is dissolved. Share Capital; In simple words, the term “capital” means the particular amoun...
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Types of Trade

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Types of Trade:

There are two types of trade:

(a)  Home trade
(b)  Foreign Trade

Home Trade 

The purchase and sale of goods inside the country is called home trade.  It is also known as ‘domestic’, ‘local’ or ‘internal trade’.  Home trade has two types:

(i)  Wholesale Trade
(ii)  Retail Trade

(i)  Wholesale Trade 

It involves selling of goods in large quantities to shopkeepers, in order to resale them to the consumers.  A wholesaler is like a bridge between the producers and retailers.

(ii)  Retail Trade 

Retailing means selling the goods in small quantities to the ultimate consumers.  Retailer is a middleman, who purchase goods from manufacturers or wholesalers and provide these goods to the consumers near their houses.

(ii)  Retail Trade 

Retailing means selling the goods in small quantities to the ultimate consumers.  Retailer is a middleman, who purchase goods from manufacturers or wholesalers and provide these goods to the consumers near their houses.

(b)  Foreign Trade

Trade or exchange of goods and services between two or more independent countries for
their mutual advantages is called foreign trade.  It is also called international trade.  Foreign
trade has two types:

  (i)  Import Trade
  (ii)  Export Trade

(i)  Import Trade 

When goods or services are purchased from other country it is called import trade.

(ii)  Export Trade 

When goods or services are sold to any other country it is called export trade.

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