- (1.) R:- Leave granted.
(2.) An ad interim order of stay passed by the High Court of Delhi has been challenged before us in this appeal. We should have hesitated to interfere with an interlocutory order following the usual practice in this Court. But, where repercussions are incalculable and the basis of the direction, though interlocutory, is obsecure, the ends of justice dominate and we may interfere if public interest so dictates.
(3.) Here is an order of the Company Law Board under Sec. 408 (1) of the Companies Act, 1956, which gives a wealth of facts and a variety of reasons to support an ultimate direction which runs thus: "Since all the three conditions referred to in sub-sec. (1) of Sec. 408 of the Companies Act, 1956, are established on the facts and circumstances of the case, the Company Law Board hereby appoint officers for three years, in addition to the existing directors of the company:- 1. Shri B.N. Kaul Member, Railway Board (Retd.) 5-3-4 Jawahar Nagar, Jaipur. 2. Shri A. K. Mazumdar, Chief Secretary, Orissa Govt. (Retd.) 26/2, Dover Road, Apartment No. 4, Calcutta-19. 3. Shri P.K. Choksi, Senior Partner, Price Waterhouse Pest and Co., B-4 Gillander House, Calcutta-1. 4. Shri S. K. Mitra, President, Institute of Cost and Works Accounts of India, 14-A/6 Western Extension Area, Karol Bagh, New Delhi-5. 5. Shri P. A. S. Rao, Formerly President of the Institute of Company Secretaries of India, C-7/7, Vasant Vihar, New Delhi. 6. Shri M.C. Bhatt Joint Secretary, Govt. of India (Retd.) B-22, Defence Colony, New Delhi-24. 7. Shri Triloki Nath Sharma, Business Executive, 247, Mohan Nagar, G.T. Road, Sahaibad, Ghaziabad (U.P.). The Company Law Board direct further under sub-sec. (6) of Sec. 408 of the Act that Shri B.M. Kaul will act as Chairman of the Board of Directors of the Company. In accordance with the order passed by the Delhi High Court on 24th August, 1977, referred to hereinbefore the implementation of this order will be subject to any order that may be passed by the Delhi High Court in the matter pending before it.";