Companies Act — Section 354

354. Meetings to ascertain wishes of creditors or contributories.—(1) In all matters relating to the

winding up of a company, the Tribunal may—

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(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 may direct; and

(c) appoint a person to act as chairman of any such meeting and to report the result thereof to the

Tribunal.

(2) While ascertaining the wishes of creditors under sub-section (1), regard shall be had to the value of

each debt of the creditor.

(3) While ascertaining the wishes of contributories under sub-section (1), regard shall be had to the

number of votes which may be cast by each contributory.