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2008(4) Supreme 472
SUPREME COURT OF INDIA
Tarun Chatterjee & Harjit Singh Bedi, JJ.
M/S. Pennar Paterson Ltd. — Petitioner
versus
M/s. Shikshak Sahakari Bank Ltd. — Respondent
Appeal (civil) 4032 of 2002
Decided on : 29-04-2008
AIR 2000 SC 926 – Relied upon.
Facts of the case :
1. The appellant M/s. Pennar Paterson Ltd. calls in question whether the expression “other legal proceedings” occurring in Section 446(1) of the Companies Act, 1956 includes criminal proceedings or not.
2. The High Court by the impugned order has held that it does not,
Finding of the Court :
The question is no more res integra. Settled that the expression “other legal proceedings” includes criminal proceedings.
Result : Appeal dismissed.
ORDER
In this appeal, the appellant M/s. Pennar Paterson Ltd. calls in question whether the expression “other legal proceedings” occurring in Section 446(1) of the Companies Act, 1956 includes criminal proceedings or not. The High Court by the impugned order has held that it does not, relying on a decision of this Court in the case of M/s. BSI Ltd. & Anr. vs. Gift Holdings Pvt. Ltd.& Anr. Etc. [AIR 2000 SC 926]. The question involved in this appeal is also covered by the aforesaid decision relied on by the High Court. We do not find any merit in this appeal. The learned counsel appearing for the appellant also could not satisfy us nor could he distinguish the decision relied on by the High Court. Since the question is covered by the aforesaid decision of this Court, we do not find any merit in this appeal. Accordingly the appeal is dismissed with no order as to costs.
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