( 1 ) THE plaintiff, State Bank of India, has brought a suit for the recovery of Rs. 5,45,37,042. 73p against Jaipur Udyog Limited and others. Among other defendants there arc guarantors who have been sued on the basis of their guarantee, Jaipur Udyog Limited being the principal debtory Jaipur Udyog Ltd. is a company based in Rajasthan ( the Company ). Their registered office is at Sawai Madhopur in Rajasthan. This company has been declared by the State of Rajasthan as a "relief Undertaking" under section 3 of the Rajasthan Relief Undertakings (Special Provisions) Act, 1961. The Company will hereinafter be referred to as a "relief Undertaking". The Rajasthan Relief. Undertakings (Special Provisions) Act, 1961 will be hereinafter referred to as the Rajasthan Act. Section 4 of the Act inter alia provides :

(1) * * * (a) * * * (b) No suit or other legal proceeding shall be instituted or commenced, or, if pending, shall be proceeded with, against any industrial undertaking during the period in which it remains a relief undertaking. Explanation : "legal proceeding" means any proceeding under any law before any court, tribunal, officer, authority or arbitrator, started on