Liquidator to make returns, etc What is Meetings to ascertain wishes of creditors or contributories Section 353 and 354 of Indian Companies Act 2013

Liquidator to make returns, etc and Meetings to ascertain wishes of creditors or contributories are defined under Section 353 and 354 of Indian Companies Act 2013. Provisions under these Sections are:

 

Section 353 of Indian Companies Act 2013 "Liquidator to make returns, etc"

(1) If any Company Liquidator who has made any default in filing, delivering or making any return, account or other document, or in giving any notice which he is by law required to file, deliver, make or give, fails to make good the default within fourteen days after the service on him of a notice requiring him to do so, the Tribunal may, on an application made to it by any contributory or creditor of the company or by the Registrar, make an order directing the Company Liquidator to make good the default within such time as may be specified in the order.


 

(2) Any order under sub-section (1) may provide that all costs of, and incidental to, the application shall be borne by the Company Liquidator.

(3) Nothing in this section shall prejudice the operation of any enactment imposing penalties on a Company Liquidator in respect of any such default as aforesaid.

 

Section 354 of Indian Companies Act 2013 "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.

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