1992 (9) TMI 270

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..... Naval Bhatia for the Respondent. JUDGMENT Y.K. Sabharwal, J. - The petitioner has filed Company Petition No. 79 of 1991 seeking winding up of the respondent company on the ground of its inability to pay the amounts stated in the petition to be due to the petitioner from the respondent company. According to the petitioner the principal amount payable by the respondent company is Rs. 11,2....

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....n June, 1991. On September 30, 1991, in spite of the strong opposition by the petitioner, two weeks, time was granted to the respondent to file a reply. It was not filed. The respondent company, however, on March 9,1992, filed the present application praying for stay of the proceedings. In the application the respondent pleaded that in May 1991, the petitioner had filed a criminal complaint under ....

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....S. Sheriff's case, AIR 1954 SC 397, has no applicability to the facts and circumstances of the present case. The Supreme Court did not hold that in every case the civil suit is liable to be stayed but granted stay of civil suit because of the facts of the case which the Supreme Court was considering. The Supreme Court did not lay down any hard and fast rule but rather held that special considerati....

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.... which weighed with the Supreme Court for granting stay of civil suit was that often the civil suit drags on for years and it was undesirable that a criminal prosecution should wait till everyone concerned forgets about the crime itself. The present proceedings are, however, summary in nature. The Companies Act is a complete code by itself and, therefore, the ground which weighed with the Supreme ....