Amended and updated notes on section 279 of Companies Act 2013. Detail discussion on provisions and rules related to stay of suits, etc., on winding up order.
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 279 of CA 2013 provides for stay of suits, etc., on winding up order.
Recently, we have discussed in detail section 278 (Effect of winding up order) of CA 2013. Today, we learn the provisions of section 279 of the Companies Act 2013.
The provisions of section 279 are effective from 15th December, 2016. You may refer Notification No. S.O. 3677(E) issued dated 7-12-2016. In this article, you will learn detail of the provisions of section 279 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XX |
| Chapter Name | Winding Up |
| Section No. | 279 |
| Section Name | Stay of suits, etc., on winding up order |
| Monthly Updated Edition | Company Law PDF |
Section 279 of Companies Act 2013: Stay of suits, etc., on winding up order
Section 279 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
(1) When a winding up order has been passed or a provisional liquidator has been appointed, no suit or other legal proceeding shall be commenced, or if pending at the date of the winding up order, shall be proceeded with, by or against the company, except with the leave of the Tribunal and subject to such terms as the Tribunal may impose:
Provided that any application to the Tribunal seeking leave under this section shall be disposed of by the Tribunal within sixty days.
(2) Nothing in sub-section (1) shall apply to any proceeding pending in appeal before the Supreme Court or a High Court.