Explain the following concept:Creditor’s Meeting

1.	Explain the following concept:Creditor’s Meeting
Answer» Creditors of the company include Debenture holders, Depositors, Banks, and others. The meeting of creditors is called when the company proposes to make a scheme for an arrangement with its creditors. E.g. In the case of winding up of the company, a meeting of creditors and of contributors is held to ascertain the total amount due by the company and also to appoint a liquidator to wind up the affairs of the company.

Answer»

Creditors of the company include Debenture holders, Depositors, Banks, and others. The meeting of creditors is called when the company proposes to make a scheme for an arrangement with its creditors.

E.g. In the case of winding up of the company, a meeting of creditors and of contributors is held to ascertain the total amount due by the company and also to appoint a liquidator to wind up the affairs of the company.

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Study the following case and express your opinion:Mr. P is elected as chairman of the General Meeting. Please advise him on the following matters:i. What should be done if the votes cast in favour and against the motion are equal?ii. How many votes can a member cast under the poll method?iii. What should Mr. P do if any point of order is raised by a member?
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Explain the following concept:Creditor’s Meeting

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