V.S. Kokje, J.

1. Heard Shri R.G. Wadhmare, learned senior advocate, with Shri R. R. Waghmare, for the applicants and Shri S.C. Consul for non-applicant No. 1.

2. By the impugned order dated August 17, 1987, the IVth Additional Judge to the Court of the District Judge, Indore, rejected an application filed by the applicants/defendants praying for stay of the suit pending disposal of a criminal case instituted against the applicants allegedly on the same facts and in the same circumstances.

3. Shri Waghmare heavily relied on the judgment of this court in Civil Revision No. 345 of 1986 decided on July 30, 1988, in New Bank of India v. Radhakishan and Co. [1988] Bank J 600. Shri Consul, on the other hand, relied on the judgment of this court in Economic Packegin v. Mount Mettur Pharmaceuticals (C. R. No. 27 of 1986 decided on March 9, 1987).

4. The law on the point dates back to a decision of the Supreme Court in Sherif v. State of Madras, AIR 1954 SC 397. As noted by S.K. Dubey J., in para 5 of his judgment in New Bank of India's case [1988] Bank J 600 and Sheriff's case, AIR 1954 SC 397, the Supreme Court, in paras 15 and 16 of its judgment, had clearly held that no hard and fas