Companies Act, 1956

Section - 557 - Meetings to ascertain wishes of creditors or contributories

Supplementary powers of [Tribunal]

Meetings to ascertain wishes of creditors or contributories.

557. (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] directs; and