Section 373 of the Companies Act, 2013: Suits stayed on winding up order

The Companies Act, 2013

Chapter– XXI

Part I- Companies Authorised to Register under this Act

Section 373: Suits stayed on winding up order.

*373. Where an order has been made for winding up, or a provisional liquidator has been appointed for, a company registered in pursuance of this Part, no suit or other legal proceeding shall be proceeded with or commenced against the company or any contributory of the company in respect of any debt of the company, except by leave of the Tribunal and except on such terms as the Tribunal may impose.


Reference

*Effective from 15.12.2016.

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