Section 318 of the Companies Act, 2013
Section 318 of the Companies Act, 2013 deals with the power of the Tribunal to stay proceedings in certain cases.
🔹 Section 318 – Power to Stay Proceedings
🟡 Key Provisions:
When an application is made to the Tribunal under the Companies Act, 2013, the Tribunal may, if it thinks fit, order a stay of any other proceedings related to the same matter which may be pending before any other court or authority.
The stay may be granted to avoid conflicting orders, unnecessary litigation, or harassment.
✅ Objective:
To consolidate proceedings and avoid multiplicity of litigation on the same issue, ensuring judicial efficiency and preventing contradictory decisions.
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