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Union of India - Section

Section 581 in The Companies Act, 1956

581. Suits stayed on winding up order .-

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] [ Substituted by Act 11 of 2003, Section 114, for " Court" .] may impose.PART-IXA Producer COMPANIES[ Part IXA (containing sections 581-A to 581-ZT) inserted by Act 1 of 2003, Section 2 (w.e.f. 6.2.2003).] Chapter I