Section 370 of Companies Act, 2013 – Continuation of pending legal proceedings

  • Updated Till : November 12, 2018

SECTION 370. CONTINUATION OF PENDING LEGAL PROCEEDINGS

[Effective from 1st April, 2014, proviso effective from 15th December, 2016]

All suits and other legal proceedings taken by or against the company, or any public officer or member thereof, which are pending at the time of the registration of a company in pursuance of this Part, may be continued in the same manner as if the registration had not taken place:

Provided that execution shall not issue against the property or persons of any individual member of the company on any decree or order obtained in any such suit or proceeding; but, in the event of the property of the company being insufficient to satisfy the decree or order, an order may be obtained for winding up the company.

 

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