Section LXXII
Effect of the order for winding-up Company.
The Joint-stock Companies Act, 1857
About this Act
An Act to make better provision for the order and good government of the Suburbs of Calcutta and of the station of Howrah.
After the date of such order
or decree for winding-up the Company, all suits and actions against the Company shall, if
the Court so orders, be stayed: no Director or other Officer of the Company shall, without
the sanction of the Court, dispose of any of the property, effects, or things in action of the
Company; and no transfer of any shares shall be valid without the sanction of the Cour t: a
copy of such order or decree shall forthwith be reported by the Company to the Registrar
of Joint-Stock Companies, who shall make a minute thereof in his books relating to the
Company.