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

Power of Court to stay or restrain proceedings 372. The provisions of this Act 1 [or of the Insolvency and Bankruptcy Code, 2016, as the case may be,] 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. ************** Notes:- 1. As Inserted vide Insolvency and Bankruptcy Code, 2016, ELEVENTH SCHEDULE