Cos 372 — Power of Court to stay or restrain proceedings

Companies Act, 2013

Statutory text

The  provisions  of  this  Act

[or  of  the
Insolvency  and  Bankruptcy  Code,  2016  (31  of  2016),  as  the  case  may  be,]  with  respect  to  staying  and restraining  suits  and  other  legal  proceedings  against  a  company  at  any  time  after  the presentation  of  a petition  for  winding  up  and  before  the  making  of  a  winding  up  order,  shall,  in  the  case  of  a  company registered in pursuance of this Part, where the application to stay or restrain is by a creditor, extend to suits and other legal proceedings against any contributory of the company.

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