Satish Kumar Mittal, J. - (1.) THIS order shall dispose of Company Petitions Nos. 10 and 11 of 2007. Both these petitions have been filed by Manjit Singh Dhillon and Harmandeep Singh, the President and Secretary, respectively, of the Prehari Mutual Welfare Society (Registered), under Section 446 of the Companies Act, 1956 (hereinafter referred to as ''the Act") for stay of proceedings in the criminal complaints under Section 138 of the Negotiable Instruments Act, 1881, pending in the court of Additional Chief Judicial Magistrate, Kapurthala, filed by the respondents Gurcharan Singh and Bachan Kaur.
(2.) IN the petitions, it has been alleged that petitioners Nos. 2 and 3 are the directors of M/s. Prehari group of companies, against which liquidation proceedings in the shape of winding up petitions, i.e., C. Ps. Nos. 43, 65, 167, 140 of 2004, 1 to 4 and 66 of 2005, are pending in this Court. It has been stated that in these petitions, the provisional liquidator was appointed on April 20, 2006. Counsel for the petitioners submit that since the respondents in these petitions have filed separate criminal complaints under Section 138 of the Negotiable Instruments Act, 1881, on the allegation of dishonour of the cheques issued by Prehari Mutual Welfare Society (Registered), therefore, proceedings in those criminal complaints be stayed during the pendency of the aforesaid winding up petitions.
(3.) COUNSEL for the official liquidator submits that perusal of the criminal complaints annexed with the petitions shows that these complaints were filed in the month of July, 2004, for the dishonour of the cheques dated February 6, 2004 and February 11, 2004, issued by Prehari Mutual Welfare Society (Registered). Those cheques were dishonoured on May 15, 2004 and May 12, 2004, respectively. Thereafter, legal notices were given on May 26, 2004. Subsequently, in the month of July, 2004, the aforesaid two complaints were filed by the respondents.;