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of <h1>Clause 287: Advisory Committee Formation for Company Liquidation, Includes Creditors, Contributories, and Others, Within 30 Days of Order.</h1> Clause 287 of the Companies Bill, 2011, provides that the Tribunal may establish an advisory committee during the winding-up process of a company. This committee, consisting of up to twelve members who are creditors, contributories, or other designated individuals, advises the Company Liquidator and reports to the Tribunal as directed. Within thirty days of the winding-up order, the Company Liquidator must convene a meeting to identify potential advisory committee members. The committee is entitled to inspect the company's financial records and assets. The procedures for meetings and other business conduct of the advisory committee are to be prescribed.
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