Section 372 of Companies Act, 2013 – Power of Court to stay or restrain proceedings

  • Updated Till : November 15, 2018

SECTION 372. POWER OF COURT TO STAY OR RESTRAIN PROCEEDINGS

[Effective from 15th December, 2016]

The provisions of this Act 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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