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The Companies Act, 1956

Winding up of Unregistered Companies ( Section 582 to Section 590)

Section 587 Suits, etc, stayed on winding up order.

Where an order has been made for winding up an unregistered company, no suit or other legal proceeding shall be proceeded with or commenced against 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.