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Right of Committee of inspection:
It is through the committee of inspection that the creditors asserts their rights and safeguard their interests. As explained by the Bombay High court " No creditors of the company has any locus standi before the court in respect of any matter at any regards administration of the assets of a company in liquidation. A creditor has no such right when the company is a going concern and the position does not change when the company is in the process of winding up. Although, a creditor has no right of hearing, a body of creditors has the right to act with the liquidator. Section 464 of the 1956 act provides for appointment of a committee of inspection to inspect the accounts of the liquidator at all reasonable times S.465(2) of the 1956 act and the liquidator may call a meeting of the committee as and when necessary (S.465 (3) of the 1956 Act. Section 464 of the 1956 act provides that at the time of the passing of the winding up order or any time thereafter the court may appoint a committee of inspection to act with the liquidator. It is through the committee of inspection that the body of creditors have a right of audience in matters in respect of a company in liquidation.
We "Solubilis Corporate Services" provides the reliable services to the clients for all their business related requirements. Company registration can be done at a reasonable cost.