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Section 354: Meetings to ascertain wishes of creditors or contributories

The Companies Act, 2013Central Act · Act 18 of 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.

Where this provision sits

ActThe Companies Act, 2013
Section354
Marginal noteMeetings to ascertain wishes of creditors or contributories
JurisdictionCentral
StatusIn force as published by the source

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