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[Cites 0, Cited by 0] [Section 503] [Entire Act]

Union of India - Subsection

Section 503(2) in The Companies Act, 1956

(2)If such a committee is appointed, the company may, either at the meeting at which the resolution for voluntary winding up is passed or at any subsequent general meeting, appoint such number of persons (not exceeding five) as they think fit to act as members of the committee:Provided that the creditors may, if they think fit, resolve that all or any of the persons so appointed by the company ought not to be members of the committee of inspection.