Court : Jammu and Kashmir
Reported in : AIR1995J& K24
ORDERB.A. Khan, J. 1. Applicants herein are respondents 3 & 4 in winding up Company Petition No. 1/94. They pray for stay of the proceedings in the aforesaid petition on the plea that the Company Law Board (CLB) is seized of their complaint on the subject matter under Sections 397/198 of the Companies Act. The sole question that arises in the circumstances is : whether the winding up proceedings in CP No. 1/94 are liable to be stayed on this ground?2. It would be useless to go into the genesis of the disputes that have overwhelmed the Company -- M/s. Devi Dass Gopal Kishen Ltd. Suffice it to say that the Company's three branches controlling equal share-holding are engaged in a fight to finish. One group headed by A. K. Puri wants it to be wound up while the other two groups of K. K. Puri and Indu Puri are resisting this and seek ouster of the rival group. All the three groups come from one family but are presently pitted against each other in a tussle for supremacy. They have launched ...
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