Section 431: Suits stayed on winding up order
The Companies Act, 2017 · Federal Acts · in_force
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431. Suits stayed on winding up order.—Where an order has been made for winding up an unregistered company, no suit or other legal proceedings 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 Court, and subject to such terms as the Court may impose.
Effective date: 2017-05-30
Related sections
Section 430: Power to stay or restrain proceedingsSection 432: Directions as to property in certain casesSection 429: Contributories in winding up of unregistered companiesSection 433: Provisions of this part cumulativeSection 428: Winding up of unregistered companiesSection 434: Application of this Part to foreign companies
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