Company winding up bars suits without Tribunal leave, with leave applications decided within sixty days; appeals remain unaffected.

When a winding up order has been made or a provisional liquidator appointed, no suit or legal proceeding may be commenced or continued by or against the company except with the leave of the Tribunal, subject to terms the Tribunal imposes; applications for leave must be disposed of within sixty days. This restriction does not apply to proceedings pending on appeal before the Supreme Court or a High Court.

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