Power of Court to stay or restrain proceedings.

The provisions of this Act or of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), as the case may be, with respect to staying and restraining suits and other legal proceedings against a company at any time after the presentation of a petition for winding up and before the making of a winding up order, shall, in the case of a company registered in pursuance of this Part, where the application to stay or restrain is by a creditor, extend to suits and other legal proceedings against any contributory of the company.