Section 702 Companies and Allied Matters Act is about Action stayed on winding-up order. It is under Chapter 25 (Winding-up of unregistered companies) of the Act.
Where an order has been made for winding-up an unregistered company, no action or proceeding shall be proceeded with or commenced against any contributory of the company in respect of any debt of the company except by leave of the Court, and subject to such terms as the Court may impose.
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