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of <h1>Section 498 of Companies Act 1956: Insolvency Meetings and Liquidator Duties in Creditors' Voluntary Winding Up Explained.</h1> Section 498 of the Companies Act, 1956, addresses the procedures for annual and final meetings during insolvency. When Section 495 applies, Sections 508 and 509 govern the winding up, excluding Sections 496 and 497, treating it as a creditors' voluntary winding up rather than a members' voluntary one. The liquidator is not obligated to call a creditors' meeting under Section 508 at the end of the first year if the meeting under Section 495 occurred more than three months before that year's end.
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