Stay of winding up: Tribunal can pause proceedings to permit company revival, subject to scheme and conditions. The Tribunal may grant a stay of winding up after a winding up order if an interested party shows it is just and fair to allow revival, provided the application includes a scheme for rehabilitation; the Tribunal can impose terms, require security for costs, and must follow scheme consideration and sanction procedures. The Tribunal may also stay proceedings on the Company Liquidator's application, request a Liquidator's report, and orders must be forwarded to the Registrar for endorsement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Stay of winding up: Tribunal can pause proceedings to permit company revival, subject to scheme and conditions.
The Tribunal may grant a stay of winding up after a winding up order if an interested party shows it is just and fair to allow revival, provided the application includes a scheme for rehabilitation; the Tribunal can impose terms, require security for costs, and must follow scheme consideration and sanction procedures. The Tribunal may also stay proceedings on the Company Liquidator's application, request a Liquidator's report, and orders must be forwarded to the Registrar for endorsement.
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