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Central Act · India · Part VII – WINDING UP

Section 466 Power of Tribunal to stay winding up

Companies Act, 1956 · Edition: Historical reference draft

(1) The Tribunal may at any time after making a winding up order, on the application either of the Official Liquidator or of any creditor or contributory, and on proof to the satisfaction of the Tribunal that all proceedings in relation to the winding up ought to be stayed, make an order staying the proceedings, either altogether or for a limited time, on such terms and conditions as the Tribunal thinks fit.

(2) On any application under this section, the Tribunal may, before making an order, require the Official Liquidator to furnish to the Tribunal a report with respect to any facts or matters which are in his opinion relevant to the application.

(3) A copy of every order made under this section shall forthwith be forwarded by the company, or otherwise as may be prescribed, to the Registrar, who shall make a minute of the order in his books relating to the company.]

Source document ↗

Judgments on Section 466

LOK 2006 (5) SC 244 · Supreme Court of India

Radheshyam Ajitsaria & Anr. v. Bengal Chatkal Mazdoor Union & Ors.

Equivalent citations: 2006 (7) SCJ 116

Subject–
ActsEmployees' Provident Funds and Miscellaneous Provisions Act, 1952 (Section 11(2)); Employees' Provident Fund and Miscellaneous Provisions Act, 1952 (Sections 11(2) and 11(1)); Companies Act, 1956 (Sections 441, 466 and 529A); Employees' State Insurance Act, 1948 (Section 94); Constitution of India (Article 136)