Shabihul Hasnain, J. - (1.) HEARD Mr. Ravi Kant, Senior Advocate, assisted by Mr. Altaf Mansoor, Advocate for the petitioners, Mr. Bireshwarnath, for the C.B.I., and Mr. A.M. Johari.
(2.) THIS petition has been filed by the petitioners under Section 633(2) of the Companies Act, 1956, read with Rule 9 of the Companies (Court) Rules, 1959. A prayer has been made that petitioners be exempted of the apprehended prosecutions under proceedings in respect of case crime No. R.C., 1(S)/2006/CBI/SCB/Lucknow of 2006 U/ss 120 -B/467/468/ 471/477 -A I.P.C. pending before the Court of Special Magistrate, CBI, Lucknow. A stay was granted by this Court on 9 -6 -2009 which has been extended from time to time. A stay vacation application was moved and its extension has been opposed by the opposite parties. Since affidavits have been exchanged the matter is being heard finally.
(3.) A preliminary objection has been raised by Sri Bireshwar Nath, learned Counsel for the C.B.I. that the petition under Section 633(2) is not maintainable on facts and circumstances of the case. The objection was sought to be replied by the petitioners' counsel. The narration of facts in brief thus becomes imperative.;