Section 54 in Tamil Nadu Non-Trading Companies Rules, 1981
54. Power of Company Law Board to order meeting to be called.
(1)If for any reason it is impracticable to call a meeting in any manner in which meeting of debenture-holders of the company may be called or to hold or conduct the meeting in the manner prescribed by the Act or the rules or the Articles, the Company Law Board may, either of its own motion or on the application of any director of the company or of any debenture-holder of the company who would be entitled to vote at the meeting, order a meeting of the debenture-holders of the company to be called, held and conducted in such manner as the Company Law Board thinks fit; andGive ancillary or consequential directions as the Company Law Board thinks expedient, including directions modifying or supplementing in relation to the calling, holding and conducting of the meeting, the operation of the provisions of the Act, the rules and of the Company's Articles.Explanation. - The directions that may be given under this sub-rule may include a direction that one debenture-holder of the company present in person or by proxy shall be deemed to constitute a meeting.(2)Any meeting called, held and conducted in accordance with any such order shall, for all purposes, be deemed to be a meeting of debenture-holders of the company duly called, held and conducted.
