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The Companies Act, 2013

Chapter XXI - Companies Authorised to Register Under This Act (366 - 374)

Section 373- Suits stayed on winding up order.

[Section 373 notified with effect from 15.12.2016 vide S.O. 3676 (E) dated 07.12.2016]

Section 373- Suits stayed on winding up order.[Corresponds to Section 587 of the Companies Act, 1956]

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.