45. Insolvency or liquidation a bar to winding up proceedings.
- Notwithstanding anything contained in sections 43 and 44, no petition for the winding up of a chitty shall be entertained by a court if proceedings under the Insolvency Act, 1955 (2 of 1956), are pending against the foreman for adjusting him an insolvent or, where the foreman is a company, if proceedings for winding up the company are pending against such company in a court.
