S N ENTERPRISES PVT LTD Vs. SANPAOLO HAMBRO NICCO FINANCE LTD
HIGH COURT OF CALCUTTA
S.N.ENTERPRISES PVT LTD
SANPAOLO HAMBRO NICCO FINANCE LTD
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(1.)The Court: There or, two applications, one is an application for winding up for non-payment, and the other is an application for stay under section 34 of the Arbitration Act.
(2.)The main question that arises for determination in the application is whether section 34 of the Arbitration Act is applicable in winding up proceeding and whether stay should be granted in the facts and circumstances of the instant case.
(3.)The facts on record inter alia are that on the terms and conditions more fully and particularly stated in an agreement of lease dated 28th October, 1992 the petitioner granted lease to the company of 864 CIC Sagment Rings (hereinafter referred to as the 'said Equipment').
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