259. At any time after the presentation of a wining up petition, and before a winding-up order has been made, the company, or any creditor or contributory, may
| (a) where any action or proceeding against the company is pending in any court in Sri Lanka, make an application to the court in which such action or proceeding is pending for a stay of proceedings therein ; and |
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| (b) where any other action or proceeding is pending against the company, make an application to the court having jurisdiction to wind up the company to restrain further proceedings in such action or proceeding, |
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and the court to which application is so made may, as the case may be, stay or restrain the proceedings accordingly on such, terms as it thinks fit. |
Sri Lanka Consolidated Acts