The application was brought for stay of proceedings in the High court. The
applicant bank gave loan facilities to the respondent company which filed a
suit in the High Court to determine its level of indebtedness thereafter an
independent auditor was appointed by the parties and on the basis of the
report, the applicant sought leave to amend its defence which was not
granted. The applicant filed a winding up petition.
The main issue was whether the court should entertain and grant a stay of