valid as on 17/10/2018

Section 354. Meetings to ascertain wishes of creditors or contributories
Effective from 15-12-2016

(1) In all matters relating to the winding up of a , the 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.

2(20) Company means a company incorporated under this Act or under any previous company law
2(90) Tribunal means the National Company Law Tribunal constituted under section 408

Enforcement Notification S.O. 3677(E) dated 07/12/2016


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