Rajiv Shakdher, J.:--

1. This writ petition is directed against an order dated 23.09.2014 passed by the Company Law Board (CLB). The said order came to be passed on an application moved by the petitioner herein, whereby the petitioner sought stay of proceedings, in Company Petition No. 45/2003, on the ground that criminal proceedings were pending against the respondents herein, in FIR No. 63(11)/2004, P.S. Laban, Shillong, under various sections of the IPC.

2. Briefly, it is the assertion of the petitioner that respondent Nos. 26 and 27 have by committing forgery transferred shares of companies, arrayed as respondent Nos. 1 to 25, which, in turn, has become the basis of a petition under Sections 397 and 398 read with Section 402 of the Companies Act, 1956 (in short the Act) being filed against it. It is also the assertion of the petitioner that because of forgery committed by the respondents herein, which includes, unauthorised use of signed cheques, letterheads and other documents, it is facing criminal prosecution in several courts. The forged documents, according to the petitioner, are subject matter of consideration both before the trial court at Shillong as well as the