Cos 354 — Meetings to ascertain wishes of creditors or contributories

Companies Act, 2013

Statutory text

(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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