2007 (8) TMI 460

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....wal for the Official Liquidator. JUDGMENT 1. This order shall dispose of Company Petition Nos. 10 and 11 of 2007. Both these petitions have been filed by Manjit Singh Dhillon and Harmandeep Singh, the President and Secretary, respectively, of the Prehari Mutual Welfare Society (Registered), under section 446 of the Companies Act, 1956 (hereinafter referred to as "the Act") for stay of procee....

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....1881, on the allegation of dishonour of the cheques issued by Prehari Mutual Welfare Society (Registered), therefore, proceedings in those criminal complaints be stayed during the pendency of the aforesaid winding up petitions. 4. Counsel for the Official Liquidator submits that perusal of the criminal complaints annexed with the petitions shows that these complaints were filed in the month of ....

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....Counsel for the petitioners could not dispute the aforesaid factual position. However, he submits that the petitioners accepted the deposit from the respondents for act on behalf of Prehari group of companies under liquidation, therefore, the proceedings should be stayed. 6. After hearing counsel for the parties, I do not find any merit in these petitions. Section 446 of the Act only bars proce....