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First meeting of creditors and contributories: The meetings of the creditors and contributories under section 464 for the purpose of determining whether there shall be a Committee of Inspection, and if so, what shall be its composition, shall be convened, held and conducted in the manner hereinafter provided by these Rules for the holding and conducting of meetings of creditors and contributories. Where the meeting of the contributories has not accepted the decision of the creditors’ meeting in its entirety, the Official Liquidator shall, at the time of making his report as aforesaid, apply to the Court for directions as to whether there shall be a Committee of Inspection, and if so, what shall be its composition, and who shall be the members thereof, and the Court shall thereupon fix a date for the consideration of the resolutions and determinations of the meetings of the creditors and contributories. Subject to the provisions of the Act, and in a winding-up by the Court, subject to the directions of the Court, the Official Liquidator in a winding-up by the Court shall, and the Liquidator in any other winding-up may, fix a certain day, which shall be not less than 14 days from the date of the notice to be given under the next succeeding Rule, on or before which the creditors of the company are to prove their debts or claims and to establish any title they may have to priority under section 530, or to be excluded from the benefit of any distribution made before such debts or claims are proved, or, as the case may be, from objecting to such distribution. (2) The Liquidator shall also give not less than 14 days’ notice of the date fixed, in a winding-up by the Court, to every person mentioned in the statement of affairs as a creditor, who has not proved his debt, and to every person mentioned in the statement of affairs as a preferential creditor, whose claim to be a preferential creditor has not been established or is not admitted, or, where there is no statement of affairs, to the creditors as ascertained from the books of the company, and, in any other winding-up, to each person who, to the knowledge of the Liquidator, claims to be a creditor or preferential creditor of the company and whose claim has not been admitted, to the last known address or place of abode of such person. 64 or 65, as the case may be, and shall be sent to each creditor by pre-paid letter post under certificate of posting.

As soon as possible after the holding of the said meetings, the Official Liquidator shall report the result thereof to the Court. Notice of the date so fixed shall be advertised by the Official Liquidator in such manner as the Court shall direct not less than 7 days before the date fixed. (1) The Liquidator shall give not less than 14 days’ notice of the date so fixed by advertisement in one issue of a daily newspaper in the English language and one issue of a daily newspaper in the regional language circulating in the State or Union Territory concerned, as he shall consider suitable. The Official Liquidator in a winding-up by the Court may summon any person whom he may deem capable of giving information respecting the debts to be proved in liquidation and may require such person to produce any documents in his custody or power relating to such debts and shall tender with the summons such sum as appears to the Official Liquidator sufficient to defray the travelling and other expenses of the person summoned for one day’s attendance.

71 containing a list of the creditors who submitted to him proofs of their claims in pursuance of the advertisement and the notices referred to in rule 148, the amounts of debt for which they claimed to be creditors, distinguishing in such list the proofs admitted wholly, the proofs admitted or rejected in part, and the proofs wholly rejected.

The proofs, with the memorandum of admission or rejection of the same in whole or in part, as the case may be, endorsed thereon, shall be filed in Court along with the certificate.

(1) The Liquidator shall, upon receiving notice of the appeal against a decision rejecting a proof wholly or in part, file with the Registrar such proof with the order containing the grounds of rejection.

(2) It shall be open to any creditor or contributory to apply to the Court for leave to intervene in the appeal, and the Court may, if it thinks fit, grant the leave subject to such terms and conditions as may be just.

of the High Court/District Court of.....) A notice by the Official Liquidator requiring any of the persons mentioned in sub- section (2) of section 454 to submit and verify a statement of affairs of the company shall be in Form No.

The consideration of the report (or reports) made by the Official Liquidator pursuant to sub-section (2) of section 455, shall be before the Judge in Chambers, and the Official Liquidator shall personally or by counsel attend the consideration thereof and give the court any further information or explanation with reference to the matters contained therein which the Court may require.

On a consideration of the report (or reports), the Court may pass such orders and give such directions as it may think fit including directions under section 478.

(1) As soon as practicable after the winding-up order is made and in any event not later than 7 days after the filing of his preliminary report under sub-section (1) of section 455, the Official Liquidator shall take out a summons for directions with regard to the settlement of the list of contributories and the list of creditors and the exercise by the Official Liquidator of all or any of the powers under section 457(1) and any other matters requiring directions of the Court.

Notice of the summons shall be given to the petitioner on whose petition the order for winding-up was made.

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