Section 354 - Meetings to ascertain wishes of creditors or contributories - Companies Act, 2013

Meetings to ascertain wishes of creditors or contributories 354. (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.