alleryStart learning →Section 339 liability for fraudulent business arises at what stage?
AAllotment of shares
BWinding up of company
CAnnual general meeting
DBuy-back of shares
Answer & Solution
Correct answer: B. Winding up of company
Section 339 applies where, in the course of winding up, business appears carried on to defraud creditors.
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Related questions
Section 242(2)(m) is a residuary clause covering what?Chapter XVI of the Companies Act 2013 deals with what?Section 340 applies even if the matter involves what liability?Section 341 extends ss.339 and 340 to whom in a firm?Section 339(3) attracts action under which section?A s.339 declaration makes the person liable to what extent?Under s.213(b)(iii), members lacking what is a ground for investigation?A s.213 investigation can follow business conducted to do what?