Section 66(8) - Chapter 4

Corporate & Other Laws

What is the meaning of creditor is entitled to object but was not included in the list of creditors in section 66(8)??

Neha Baliga

CA Inter

★ 16K+

10-Mar-23 20:26

411

Answers (3)

Best Answer

It means a creditor whose interest can be affected with reduction of Capital in Company. Hence , their declaration and consent is required to be undertaken while reduction of share capital.

Varun Mulay

CA Final

★ 39K+

11-Mar-23 08:55

Can u send the para?

Harshitha Kalidindi

CA Final

★ 51K+

10-Mar-23 22:37

When company goes for reduction of share capital,they should send creditors list to tribunal and the tribunal will send notice of the proceedings to creditors.but if the company forgets the creditors name in that list,then the company will be liable as if the reduction has not happened

Gokul Nath

CA Inter

★ 605

11-Mar-23 22:04