Suspension of suits or other legal proceedings against relief undertakings.

As from the date of specified in the notification under sub-section (1) of section 3 no suit of other legal proceedings shall be instituted or commenced or if pending, shall be proceeded with against the industrial undertaking during the period in which it remains a relief undertaking any law, usage, custom, contract, instrument, decree, order, award, settlement or other provisions whatsoever, not with standing.