Rules and Regulations of India

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Section 69 – THE COMPANIES (COURT) RULES, 1959

69. Directions at hearing of summons

Upon the hearing of the summons or any adjourned hearing thereof, the Judge shall, unless he thinks fit for any reason to dismiss the summons, give such directions as he may think necessary in respect of the following matters :-

 

(1) determining the class or classes of creditors and/or of members whose meeting or meetings have to be held for considering the proposed compromise or arrangement ;

 

(2) fixing the time and place of such meeting or meetings ;

 

(3) appointing a Chairman or Chairmen for the meeting or meetings to be held, as the case may be ;

 

(4) fixing the quorum and the procedure to be followed at the meeting or meetings, including voting by proxy ;

 

(5) determining the values of the creditors and/or the members, or the creditors or members of any class, as the case may be, whose meetings have to be held ;

 

(6) notice to be given of the meeting or meetings and the advertisement of such notice ;

 

(7) the time within which the Chairman of the meeting is to report to the Court the result of the meetings ; and

such other matters as the Court may deem necessary.

The order made on the summons shall be in Form No. 35 with such variations as may be necessary.

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