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of <h1>Tribunal Can Stay Company Winding Up for 180 Days if Rehabilitation Scheme is Submitted by Interested Parties.</h1> The Tribunal has the authority to stay winding up proceedings of a company if an application is made by promoters, shareholders, creditors, or any interested party, provided a rehabilitation scheme is submitted. This stay can last up to 180 days under terms deemed appropriate by the Tribunal. The Tribunal may require security for costs and must follow Chapter XIX provisions for the revival scheme. The Company Liquidator can also apply for a stay, and must report relevant facts to the Tribunal. Orders made must be recorded by the Registrar.
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