Companies Act, 1956
Section - 465 - Constitution and proceedings of committee of inspection
Constitution and proceedings of committee of inspection.465. (1) A committee of inspection appointed in pursuance of shall consist of not more than twelve members, being creditors and contributories of the company or persons holding general or special powers of attorney from creditors or contributories, in such proportions as may be agreed on by the meetings of creditors and contributories, or in case of difference of opinion between the meetings, as may be determined by the [Tribunal].(2) The committee of inspection shall have the right to inspect the accounts of the liquidator at all reasonable times.(3) The committee shall meet at such times as it may from time to time appoint, [***] and the liquidator or any member of the committee may also call a meeting of the committee as and when he thinks necessary.(4) The quorum for a meeting of the committee shall be one-third of the total number of the members, or two, whichever is higher.(5) The committee may act by a majority of its members present at a meeting, but shall not act unless a quorum is present..... To read the full section download the app from Google Play store
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