9911796707
TMI Blog1996 (7) TMI 459X X X X Extracts X X X X X X X X Extracts X X X X ..... espondent . JUDGMENT R.K. Abichandani, J. This judge's summons is taken out for obtaining permission under section 446(1) of the Companies Act, 1956, to proceed with Arbitration Suit No. 17 of 1989, filed by the applicant against the respondent company in the court of the Board of Nominees at Ahmedabad. It is the case of the applicant that it is a secured creditor having priority of cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommenced except by the leave of the court. Reliance was placed on the decision of the Supreme Court in Bansidhar Shankarlal v. Mohd. Ibrahim [1971] 41 Comp. Cas. 21 ; AIR 1971 SC 1292, by learned counsel for the applicant in support of his submission that such leave was not a condition precedent to the institution of the proceedings and can be subsequently granted. The Supreme Court in Bansid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arlal v. Mohd. Ibrahim [1971] 41 Comp. Cas. 21; AIR 1971 SC 1292, it is clear that leave can be granted under section 446(1) of the Act even after the suit is instituted but once leave is granted, the suit will be treated as having been instituted on the date on which the leave is granted. It was contended on behalf of the official liquidator that if permission is granted under section 446(1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the present case, the application for leave can under section 446(1) be only granted in respect of the suit against the company and there can be no question of granting leave for a suit against other parties. Having regard to the nature of controversy and the fact that even outsiders are involved in the dispute with the company, it is desirable that the dispute against the company should be deci ..... X X X X Extracts X X X X X X X X Extracts X X X X
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