Section 76 in Tamil Nadu Non-Trading Companies Rules, 1981
76. Committee of inspection.
(1)Sub-sections (2), (3), (4), (5), (6) and (10) of section 465 shall apply with respect to a committee of inspection appointed to creditor's voluntary winding up under section 503.(2)Sub-sections (7), (8) and (9) of section 465 shall not apply with respect to the committee and sub-rules (3) to (5) shall apply.(3)If a member of the committee is adjudged an insolvent or compounds or arranges with his creditors or is absent from five consecutive meetings of the committee without leave of those members who together with himself represent the creditors or the company, as the case may be, his office shall become vacant.(4)A member of the committee may be removed at a meeting of the creditors, if he represents the creditors, or by the company in general meeting, if he represents the company, by any ordinary resolution of which seven days notice has been given stating the object of the meeting.(5)On a vacancy occurring in a committee, the liquidator shall forthwith summon a meeting of the creditors or a general meeting of the company, as the case may require, to fill the vacancy and the meeting may, by resolution, reap-point the same person, or appoint another person:Provided that if the liquidator, having regard to the position in the winding up, is of the opinion that it is unnecessary for the vacancy to be filled, he may apply to the Court; and the Court may make an order that the vacancy shall not be filled except in such circumstances as may be specified in the order.
