274. Power to stay or restrain proceedings against a company

At any time after the presentation of a winding-up petition, and before a winding-up order has been made, the company or any creditor or contributory may-

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

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 peoceedings in such action or proceeding, 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.