2001 (9) TMI 94

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.... GUPTA.  JUDGMENT K S. GUPTA J.-This revision petition is directed against the order dated May 23, 2001, passed by the Additional Chief Metropolitan Magistrate, Delhi, dismissing the application of the petitioners for staying the proceedings in Criminal Complaint No. 1229/1/of 1997-R. L. Bali v. Rakoor Indus tries Pvt. Ltd. In short the submission advanced by Sh. Shambhu Nath for the....

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.... rendered with reference to section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985. The submission is, however, without any merit. A complaint was filed by respondent No. 1 against petitioner No.1 company, R. K. Gupta, petitioner No. 2, and Smt. Prem Lata Gupta who is alleged to have died, on March 31, 1987. Rajender Kumar Gupta and Smt.Prem Lata Gupta had been impleaded as ....

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....7 of the Act. Section 446(1) of the Companies Act says that when a winding up order has been made or official liquidator appointed as provisional liquidator, no suit or other legal proceeding shall be commenced, or if pending at the time of winding up order, shall be proceeded with, against the company' except by leave of the court and subject to such terms as the court may impose. The expressi....