Lawgist287Advisory Committee
(1) The Tribunal may, while passing an order of winding up of a company, direct that there shall be, an advisory committee to advise the Company Liquidator and to report to the Tribunal on such matters as the Tribunal may direct.
(2) The advisory committee appointed by the Tribunal shall consist of not more than twelve members, being creditors and contributories of the company or such other persons in such proportion as the Tribunal may, keeping in view the circumstances of the company under liquidation, direct.
(3) The Company Liquidator shall convene a meeting of creditors and contributories, as ascertained from the books and documents, of the company within thirty days from the date of order of winding up for enabling the Tribunal to determine the persons who may be members of the advisory committee.
(4) The advisory committee shall have the right to inspect the books of account and other documents, assets and properties of the company under liquidation at a reasonable time.
(5) The provisions relating to the convening of the meetings, the procedure to be followed thereat and other matters relating to conduct of business by the advisory committee shall be such as may be prescribed.
(6) The meeting of advisory committee shall be chaired by the Company Liquidator.
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- 271 Circumstances in which company may be wound up by Tribunal
- 272 Petition for winding up
- 273 Powers of Tribunal
- 274 Directions for filing statement of affair
- 275 Company Liquidators and their appointment
- 276 Removal and replacement of liquidato
- 277 Intimation to Company Liquidator, provisional liquidator and Registra
- 278 Effect of winding up order
- 279 Stay of suits, etc., on winding up order
- 280 Jurisdiction of Tribunal
- 281 Submission of report by Company Liquidato
- 282 Directions of Tribunal on report of Company Liquidator
- 283 Custody of company‘s propertie
- 284 Promoters, directors, etc., to cooperate with Company Liquidator
- 285 Settlement of list of contributories and application of assets
- 286 Obligations of directors and managers
- 287 Advisory Committee
- 288 Submission of periodical reports to Tribunal
- 289 Power of Tribunal on application for stay of winding up
- 290 Powers and duties of Company Liquidator
- 291 Provision for professional assistance to Company Liquidato
- 292 Exercise and control of Company Liquidator‘s powers
- 293 Books to be kept by Company Liquidato
- 294 Audit of Company Liquidator‘s accounts
- 295 Payment of debts by contributory and extent of set-off
- 296 Power of Tribunal to make calls
- 297 Adjustment of rights of contributories
- 298 Power to order costs
- 299 Power to summon persons suspected of having property of company, etc
- 300 Power to order examination of promoters, directors, etc
- 301 Arrest of person trying to leave India or abscond
- 302 Dissolution of company by Tribunal
- 303 Appeals from orders made before commencement of Act
