Section 419, The Companies Act, 2009

(1) The creditors, at the meeting to be held in pursuanceof section 417 or at any subsequent meeting, may, if they think fit, appoint a committee of inspection consisting of not more than 5 persons; and if the committee is appointed the company may, either at the meeting at which the resolution for voluntary winding up is passed or at any time subsequently in general meeting, appoint such number of persons as they think fit to act as members of the committee not exceeding five in number. 298 299 of liquidator. of committee of inspection. (2) A committee of inspection shall consist of creditors and contributories of the company or persons holding general powers of attorney from creditors or contributories in such proportions as may be agreed on by the meetings of creditors and contributories, or as, in case of differences, may be determined by the court . (3) The creditors may, if they think fit, resolve that all or any of the persons so appointed by the company ought not be members of the committee of inspection and, if creditors so resolve, the persons mentioned in the resolution shall not, unless the court under this provision, if it thinks fit, appoint other persons to act as such members in place of the persons mentioned in the resolution. (4) Proceedings of a committee of inspection shall be conducted in the prescribed manner.