Section 497 CAMA 2020 Section 497 Companies and Allied Matters Act is about Additional powers of administrator. Eleventh Schedule. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. The Administrator of a company shall exercise the additional powers specified in Eleventh Schedule to this Act.

Section 496 CAMA 2020 Section 496 Companies and Allied Matters Act is about General power. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. (1) The administrator of a company may do anything necessary or expedient for the management of the affairs, business and property of the company. (2) Any…

Section 495 CAMA 2020 Section 495 Companies and Allied Matters Act is about Correspondence instead of creditors’ meeting. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. (1) Anything which is required or permitted by or under this Chapter to be done at a creditors’ meeting may be done by…

Section 494 CAMA 2020 Section 494 Companies and Allied Matters Act is about Creditors’ Committee. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. (1) A creditors’ meeting may establish a Creditors’ Committee. (2) A Creditors’ Committee shall perform functions conferred on it under this Act. (3) A Creditors’ Committee…

Section 493 CAMA 2020 Section 493 Companies and Allied Matters Act is about Further creditors’meetings. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. (1) The administrator shall summon further creditors’ meeting if— (a) it is requested in the prescribed manner by creditors of the company whose debts amount to…

Section 492 CAMA 2020 Section 492 Companies and Allied Matters Act is about Failure to obtain approval of administrator’s proposals. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. (1) This section applies where an administrator reports to the Court that— (a) an initial creditors’ meeting has failed to approve…

Section 491 CAMA 2020 Section 491 Companies and Allied Matters Act is about Revision of administrator’s proposal. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. (1) This section applies where— (a) an administrator’s proposals have been approved with or without modification at an initial creditors’ meeting ; (b) the…

Section 490 CAMA 2020 Section 490 Companies and Allied Matters Act is about Business and result of initial creditors’ meeting. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. (1) An initial creditors’ meeting to which an administrator’s proposals are presented shall consider them and may approve them— (a) without…

Section 489 CAMA 2020 Section 489 Companies and Allied Matters Act is about Restrictions on summoning of initial creditors’ meeting. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. (1) Section 487 (1) of this Act does not apply where the statement of proposals states that the administrator thinks that—…

Section 488 CAMA 2020 Section 488 Companies and Allied Matters Act is about Requirement for initial creditors’ meeting. It is under Chapter 18 (Administration of companies: nature of administration) of the Act. (1) Each copy of an administrator’s statement of proposals sent to a creditor under section 486 (4) (b) of this Act shall be…