Complied AI Back to law library Reading nowCompanies Rules under the Companies Act, 201355 chapters · 1109 rules

Chapters55

Reading nowCompanies Rules under the Companies Act Act contents

Law library Updates

Search this Act

Jump directly to a section by number or title.

Rule 51: Resolution at creditors’ meeting · Complied AI

Chapter 37
Rule 51

Rule 51Chapter 37

Resolution at creditors’ meeting

Resolution at creditors’ meeting.- At a meeting of creditors, a resolution shall be deemed to be passed, when a majority in value of the creditors present personally or by proxy and voting on the resolution have voted in favour of the resolution and in a winding up by the Tribunal, the value of a creditor, shall, for the purposes of a first meeting of the creditors meeting held under section 287, be deemed to be the value as shown in the books of the company, or the amount mentioned in his proof as referred to rule 101, whichever is less and for the purposes of any other meeting, the value for which the creditor has proved his debt or claim.

Rule 50 Rule 51 Rule 52