https://www.taxtmi.com/caselaws?id=99338 Section 391(6) of the Companies Act, 1956 authorises a stay only of proceedings of a civil, pecuniary, or creditor-related character connected with a proposed compromise or arrangement. It does not extend to criminal prosecutions against the company or its officers, because criminal liability is independent of the compromise machinery and cannot be suspended merely by a pending scheme. Delay in seeking vacation of an ex parte stay order did not, on these facts, bar consideration of relief, as no fixed time limit controlled the application and the criminal proceedings were outside the scope of the stay. The compromise proceedings were allowed to continue subject to the modified terms. en-us Fri, 23 Jan 1976 00:00:00 +0530 Fri, 27 Jan 2012 10:24:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99338 Section 391(6) of the Companies Act, 1956 authorises a stay only of proceedings of a civil, pecuniary, or creditor-related character connected with a proposed compromise or arrangement. It does not extend to criminal prosecutions against the company or its officers, because criminal liability is independent of the compromise machinery and cannot be suspended merely by a pending scheme. Delay in seeking vacation of an ex parte stay order did not, on these facts, bar consideration of relief, as no fixed time limit controlled the application and the criminal proceedings were outside the scope of the stay. The compromise proceedings were allowed to continue subject to the modified terms. Case-Laws Companies Law Fri, 23 Jan 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99338