Lawzonline.com 
 
Home|Discussion Forum|Communities|Professional Search|Law Dictionary|Bare Acts|Law Schools|State Bare Acts|Free Judgement Search|Law quotes
Articles  |    Humor    |    Law Digest
 
 
Bare acts search

 
  
Bare acts > Companies Act, 1956 > Section 557
 
  


 

557. 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 directors; and

(c) appoint a person to act as chairman of any such meeting and to report the result thereof to the Tribunal

(2) When ascertaining the wishes of creditors, regard shall be had to the value of each creditor’s debt.

(3) When ascertaining the wishes of contributories, regard shall be had to the number of votes which may be cast by each contributory.

 

 

 

 

 

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

 

Quick Links     
      
Family LawsInsurance LawsEnvironmental lawTax LawFDI 
Company LawTelecommunication LawLabour LawsCentral RulesRBI 
Business & Commercial LawsConsumer lawsCorporate lawsCriminal lawsSEBI 
Intellectual Property lawMedia & Press lawsPharma & Medical lawsProperty lawFEMA 
Debt Recovery LawsAmendmentsProfessional lawBanking LawsLegal Links 
      
      
 
 
 
 
 

 
   
 

 

 

Privacy PolicyDisclaimer

Copyright @2010