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CS Professional · Corporate Restructuring, Valuation and Insolvency · Convening and Conduct of Meetings of Committee of Creditors

At a creditors' meeting in the bankruptcy of Ms. Fernandes, trustee Rohan finds that business cannot be completed in one sitting. He wishes to adjourn the meeting. What does section 134 permit?

The trustee may adjourn for not more than seven days at a time. Section 134(5) sets this ceiling for any purpose, and creditor consent does not extend it.

  1. AAdjournment for up to fifteen days at a time
  2. BAdjournment for up to thirty days at a time
  3. CAdjournment for not more than seven days at a timeCorrect
  4. DAdjournment for any period if creditors consent

Explanation

Section 134(5) bars the trustee from adjourning the meeting for more than seven days at a time. Fifteen or thirty days exceed the limit, and the section has no exception for creditor consent.

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