1. The Company Liquidator or any contributory or creditor may apply to the Tribunal—
a. to determine any question arising in the course of the winding up of a company; or
b. to exercise as respects the enforcing of calls, the staying of proceedings or any other matter, all or any of the powers which the Tribunal might exercise if the company were being wound up by the Tribunal.
2. The Company Liquidator or any creditor or contributory may apply to the Tribunal for an order setting aside any attachment, distress or execution put into force against the estate or effects of the company after the commencement of the winding up.
3. The Tribunal, if satisfied on an application under sub-section (1 ) or sub-section (2 ) that the determination of the question or the required exercise of power or the order applied for will be just and fair, may allow the application on such terms and conditions as it thinks fit or may make such other order on the application as it thinks fit.
4. A copy of an order staying the proceedings in the winding up, made under this section, shall forthwith be forwarded by the company, or otherwise as may be prescribed, to the Registrar, who shall make a minute of the order in his books relating to the company.
Legal Commentary & Landmark Judgments: Section 322
Section 322 of the Companies Act, 2013 granted summary access to the Tribunal for determining questions and enforcing powers in voluntary winding up; omitted by the IBC 2016, this supervisory jurisdiction is now exercised under Section 60(5) of the IBC.
Under current IBC practice, invoke Section 60(5) for any disputes relating to priority, claims admission, or recovery of assets in liquidation. Summary applications before NCLT bypass lengthy civil court procedures and enjoy statutory non-obstante priority.