CANBANK FINANCIAL SERVICES LIMITED Vs. HITEN P DALAL

JUDGEMENT

(1.) THIS Application is taken out by the Orig. Petitioners. By this Application the Petitioners want their own Petition stayed pending disposal of a Criminal Case by C.B.I.

(2.) BRIEFLY stated the facts are as follows : The main Petition is filed for recovery of a sum of Rs. 38,01,13,561.64. The Petitioners claim that the Defendants, in collusion with each other entered into circuitous deals by which the Petitioners were made to sell and buy certain securities resulting in a loss of the sum of Rs. 38,01,13,561.64. This Petition has reached hearing on a number of occasions. The Petitioners have taken time from this Court in order to consider whether they want to lead oral evidence or whether they want to proceed only on the basis of documents. After having taken time, now this Application for Stay of their own Petition.

(3.) IT is also claimed that Respondents 4 and 5 who are Accused in the criminal matter have in their Affidavits in Reply, asked for a stay of the Petition. It is submitted that this request is reasonable and should be granted.