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of <h1>Section 289 of Companies Act, 2013, removed by Insolvency and Bankruptcy Code, 2016, halted winding up with conditions.</h1> Section 289 of the Companies Act, 2013, as omitted by the Insolvency and Bankruptcy Code, 2016, previously empowered the Tribunal to stay winding up proceedings. It allowed promoters, shareholders, creditors, or other interested parties to apply for a stay, provided a rehabilitation scheme was included. The Tribunal could impose conditions and require security for costs. Additionally, the Company Liquidator could apply for a stay, and the Tribunal could request a report from the Liquidator. Any order made had to be forwarded to the Registrar for record endorsement.
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