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Companies Act, 2013

354. Meetings to ascertain wishes of creditors or contributories.

1.      In all matters relating to the winding up of a company, the Tribunal mayŚ

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.

Companies Act, 2013 Back

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