Companies Act

Section 354. Meetings To Ascertain Wishes Of Creditors Or Contributories

Companies Act, 2013

(1) In all matters relating to the winding up of a company, the Tribunal may–


(a) have regard to the wishes of creditors or contributories of the company, as proved to it by any sufficient evidence;


(b) if it thinks fit for the purpose of ascertaining those wishes, direct meetings of the creditors or contributories to be called, held and conducted in such manner as the Tribunal may direct; and


(c) appoint a person to act as chairman of any such meeting and to report the result thereof to the Tribunal.


(2) While ascertaining the wishes of creditors under sub-section (1), regard shall be had to the value of each debt of the creditor.


(3) While ascertaining the wishes of contributories under sub-section (1), regard shall be had to the number of votes which may be cast by each contributory.


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