16 Application for Stay of Winding-Up Proceedings

(i) An application under sub-section (1) of section 289 for stay of proceedings in the winding-up shall be made to the Tribunal in Form No. 33, upon notice to the parties to the winding-up petition and to such other persons as the Tribunal may direct enclosing a scheme for rehabilitation and notice shall be given to the Company Liquidator.

(ii) An application under sub-section (4) of section 289 for stay of proceedings in the winding-up shall be made by the Company Liquidator to the Tribunal in Form No.34 upon notice to the parties to the winding-up petition and to such other persons as the Tribunal may direct specifying the grounds for making the application.

(iii) Where an order is made staying proceedings, the Company Liquidator shall forthwith file a certified copy thereof with the Registrar of Companies within a period of 15 days days of passing of such order.