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1992 Supreme(P&H) 288

ASHOK BHAN
Sarup Chand – Appellant
Versus
M. K. Paper And Board Mills Pvt. Ltd. , Kharar – Respondent


Judgment

1. Plaintiff-petitioner (hereinafter referred to as the petitioner) filed a suit against the defendant-respondents (hereinafter referred to as the respondents) for the recovery of Rs. 2,09,794.00 (Rs. 1,60,194.60 as principal amount and Rs. 49,600.40 as interest) and future interest at the rate of 1% per month. During the pendency of the suit respondents-company which is a private limited, filed an application stating therein that on a reference made to the Board for industrial and financial reconstruction, in the prescribed form under the Provisions of Sec. 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 (hereinafter referred to as the Act), the respondent-company has been declared a sick company and so keeping in view the provisions of Sec. 22(1) of the Act, proceedings in the suit be stayed. The trial Court accepted this application and stayed further proceedings in the suit. The suit was adjourned sine die and the file was ordered to be consigned to the record room. Petitioner has come up in revision challenging the said order.

2. Mr. D. D. Gupta, Advocate, appearing for the petitioner contended that only certain specified proceedings are contempla









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