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TMI Blog1992 (9) TMI 270X X X X Extracts X X X X X X X X Extracts X X X X ..... DGMENT 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. 11,29,444 representing the cost of the goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pite 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 section 138 of the Negotiable Instruments ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as 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 considerations obtaining in any particular case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Court strictly is not applicable to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ings in a civil action and whether the proceedings in a civil action should be stayed or parallel proceedings, both civil and criminal, may continue depend upon the facts and circumstances of each case. There is no legal bar to the continuance of civil and criminal proceedings simultaneously. Having regard to all the fuels and circumstances of the case, I have no hesitation in coming to the conclu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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