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[Cites 0, Cited by 9] [Section 557] [Entire Act]

Union of India - Subsection

Section 557(1) in The Companies Act, 1956

(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 conduct in such manner as the [Tribunal] [ Substituted by Act 11 of 2003, Section 112, for " Court" .] directs; and
(c)appoint a person to act as chairman of any such meeting and to report the result thereof to the [Tribunal] [ Substituted by Act 11 of 2003, Section 112, for " Court" .].