279. Stay of suits, etc., on winding up order
(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.