Section 586 – The Companies Act,1956

The Companies Act, 1956

586. POWER TO STAY OR RESTRAIN PROCEEDINGS.

The provisions of this Act with respect to staying and restraining suits and 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 an unregistered company, where the application to stay or restrain is by a creditor, extend to suits and legal proceedings against any contributory of the company.

Previous | Next

The Companies Act, 1956

Indian Laws – Bare Acts

MyNation

Leave a Comment

Your email address will not be published. Required fields are marked *