(1.) By this application under Section 391(6) of the Companies Act, 1956 (hereinafter referred to as 'the 1956 Act'), the applicant Company has prayed for below -mentioned relief: - (A) That pending the outcome of the meeting of the secured creditors of the Applicant Company, ordered to be convened on 4th February 2009 at 11.30 AM at Mumbai and pending the hearing and final disposal of the proceedings for sanction of the said scheme of compromise, SICOM Limited, one of the secured creditors of the Applicant Company be restrained from taking any legal proceedings against the Applicant Company, including, acting in any manner whatsoever u/S. 29 of the State Financial Corporations Act, 1951 including its notice dated 18th July 2008.... Re: - FACTS
(2.) The relevant facts leading to this application are as follows: -
(3.) Mr. M. J. Thakore, learned Senior Counsel with Mr. A. S. Vakil has appeared for the Company and Mr. S. Soparkar, learned Senior Counsel with Mr. S. A. Mehta has appeared for SICOM Ltd. Mr. M. H. Joshi, learned Senior Counsel with Mr. S. M. Singhi has appeared for EXIM Bank and Mr. A. L. Shah, Advocate, has appeared for AXIS Bank. Re: SUBMISSION