1998 (2) TMI 455

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....his capacity as the managing director of the Sai Chakra Studies (P.) Ltd. (in liquidation). The official liquidator filed M.C.A. 53 of 1996 to vacate the above order. Annexure-E was produced before the learned Judge. In Annexure-E the appellant has been described as Prof. P. Narayanankutty, Sai Chakra, Aradhana, Kallai Road, Calicut-2. The learned Judge was of the view that the proceedings can be stayed only if the legal proceedings wherein assets of the company are involved under section 446 of the Companies Act 1956 and action against the directors and others in their personal capacity do not come within the purview of the above section. Under the circumstanc- es the learned Judge has vacated the order. Aggrieved by the said order the abo....

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....ls with suits stayed on winding up order. When a winding up order has been made or an official liquidator is appointed as provisional official liquidator, no suit or other legal proceed-ings shall be commenced or if pending on the date of the winding up order, shall be proceeded with against the above, except by a leave of the court and subject to such terms as the court impose. The court which is winding up the company, shall have the jurisdiction to entertain or dispose of any suit or proceeding by or against the company, or any claim made by or against the company, or any application made under section 391 by or in respect of the company and also decide any question of priorities or any other question whatsoever, which any relate to or a....