IYOGI TECHNICAL SERVICES PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) This application, under Rules 6 and 9 of the Company (Courts) Rules, 1959, has been preferred by iYogi Technical Services Pvt. Ltd. (the applicant in Company Application (M) 135/2016), seeking ad interim stay of the proceedings, against the applicant, consequent on complaint, dated 15th February, 2019, by the National Skill Development Corporation (NSDC), to the Economic Offences Wing (EOW). Pursuant to the said complaint, the EOW issued a notice, dated 23rd April, 2019, to the applicant, calling on the applicant to appear, before the EOW. The applicant contends that it is in the process of revival and that, therefore, Section 391 (6) of the Companies Act, 1956 (hereinafter referred to as "the Act"?) justifies stay of proceedings, against it, consequent on the aforesaid complaint, dated 15th February, 2019, of NSDC, pending culmination of the revival proceedings.

(2.) NSDC essentially contends, per contra, that the proceedings, of which stay is being sought by the applicant, are criminal proceedings, which cannot be stayed under Section 391 (6) of the Act, in view of the law laid down by a Division Bench of this Court in Krishna Texport Industries Ltd v. D.C.M. Ltd, 2008 (104) DRJ 101 (DB).

(3.) The issue in controversy having thus been set out in conspectus, I proceed to allude, in somewhat greater detail, to the facts, leading to the filing of the present application.