Act Number: 18

Act Name: The Companies Act, 2013

Year: 2013

Enactment Date: 2013-08-29

Long Title: An Act to consolidate and amend the law relating to companies.

Ministry: Ministry of Corporate Affairs

Department:

Section 354: Meetings to ascertain wishes of creditors or contributories
    (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.
Scroll to Top