Section 587 – The Companies Act,1956

The Companies Act, 1956

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 1[Tribunal] and except on such terms as the 1[Tribunal] may impose.

1. Substituted by Act 11 of 2003, sec. 116, for “Court”.

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Your email address will not be published.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 *