Section 442 - Power of Court to stay or restrain proceedings against company. - Companies Act, 1956

Powers of [1] [Tribunal] [2] [442. Power of Court to stay or restrain proceedings against company. * * *] ----------------------------------------- Notes:- [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. [2] Omitted by the Companies (Second Amendment) Act, 2002. Prior to omission it read as under: "442. Power of Court to stay or restrain proceedings against company. At any time after the presentation of a winding up petition and before a winding up order has been made, the company, or any creditor or contributory, may ___ (a) where any suit or proceeding against the company is pending in the Supreme Court or in any High Court, apply to the Court in which the suit or proceeding is pending for a stay of proceedings therein; and (b) where any suit or proceeding is pending against the company in any other Court, apply to the Court having jurisdiction to wind-up the company, to restrain further proceedings in the suit or proceeding; and the Court to which application is so made may stay or restrain the proceedings accordingly, on such terms as it thinks fit."