https://www.taxtmi.com/caselaws?id=108319 Section 557 of the Companies Act, 1956 permits the Court, in winding-up matters, to direct meetings of creditors or contributories only where their wishes are proved by sufficient evidence before the Court. The power is discretionary, but it cannot be exercised in the abstract. Here, no secured or unsecured creditor or contributory appeared, filed affidavits, or otherwise placed material to show any proved wish for or against the winding-up petition, so the prerequisite for convening meetings was not met. The application was therefore not maintainable and was dismissed. en-us Mon, 22 Sep 2003 00:00:00 +0530 Fri, 30 Mar 2012 18:45:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108319 Section 557 of the Companies Act, 1956 permits the Court, in winding-up matters, to direct meetings of creditors or contributories only where their wishes are proved by sufficient evidence before the Court. The power is discretionary, but it cannot be exercised in the abstract. Here, no secured or unsecured creditor or contributory appeared, filed affidavits, or otherwise placed material to show any proved wish for or against the winding-up petition, so the prerequisite for convening meetings was not met. The application was therefore not maintainable and was dismissed. Case-Laws Companies Law Mon, 22 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108319