Winding Up of a Company: Meaning, Grounds, and the “Just and Equitable” Clause
People imagine a company as a living, breathing entity with a birth (incorporation), a life (operations), and eventually, a death. That death is called winding up or liquidation in the legal language. But unlike a human being, a company cannot stop…
Contract of Indemnity in India: Meaning, Scope & Landmark Case Laws
Suppose you hire a contractor for your office renovation. In the middle of work, a worker hurts the store that’s mistakenly next to. The neighbour sues you because the property is in your name. You never touched the wall. But legally, you’re on the…
What Is a Private Company?
You hear the term “private company” all the time. Founders talk about building one. Investors prefer them in early stages. News stories mention big private firms that never went public. But what does it actually mean? In easy words, the private company…
Doctrine of Ultra Vires: Meaning, Types, Effects, and Key Exceptions
A private school — registered strictly to provide education — decides to open a commercial cinema hall on its campus. The management sees profit in it. Investors put money in. Construction begins. Then someone challenges it in court. The cinema gets shut…