Question: Answering in Problematic questions ISSUE LAW , APPLICATION , CONCLUSION (ILAC) a)Beta Sdn. Bhd was a progitable company in Johor Bharu. They supplied various textilesfor

Answering in Problematic questions ISSUE LAW , APPLICATION , CONCLUSION (ILAC)

a)Beta Sdn. Bhd was a progitable company in Johor Bharu. They supplied various textilesfor clothingproduction. However, early April 2020, the company started to suffer major losses due to the Movement Control Order. CIBB Bank is one of their major creditors. The company made a loan of up to RM 750,000.00 from the bank in 2018. Starting from June 2020, the company failed to pay their monthly payment to CIBBBank until today. CIBB Bank has sent few demand notices to the company but the company failed to do so. Therefore, CIBB intends to wind up the company by applying a compulsory winding up in the court.

By referring to Companies Act 2016, advise CIBBBank whether they have the right and ground to apply compulsory wind up in court for Beta Sdn. Bhd?

(15 marks)

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