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

  • Updated Till : November 11, 2018

SECTION 373. SUITS STAYED ON WINDING UP ORDER

[Effective from 15th December, 2016]

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.

 

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