Section 315- Appointment of committees. [Corresponds to Section 503 of the Companies Act, 1956]
Prior to Omission w.e.f 15.11.2016, Section 315 read as under:
Section 315- Appointment of committees.
Where there are no creditors of a company, such company in its general meeting and, where a meeting of creditors is held under section 306, such creditors, as the case may be, may appoint such committees as considered appropriate to supervise the voluntary liquidation and assist the Company Liquidator in discharging his or its functions.