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Section 287 of Companies Act, 2013

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Section 287 of Companies Act, 2013 deals with Advisory committee.

From the Act

(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.

Recent Cases / Related Cases / Case Laws

Related Sections from the Act

  • Section 285: Settlement of list of contributories and application of assets.
  • Section 286: Obligations of directors and managers
  • Section 288: Submission of periodical reports to Tribunal
  • Section 289: Power of Tribunal on application for stay of winding up.

Chapters and Sections from the Indian Companies Act, 2013

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