Completed offence rule bars delayed cognizance for missed half-yearly company accounts filing under limitation law.

Failure by a receiver to file the half-yearly abstract of accounts under the Companies Act is a completed offence when the relevant half-year ends; it does not continue until later compliance. Because the offence is punishable with fine only and the Companies Act provides no special limitation rule, the limitation period under the Code of Criminal Procedure applies, and section 472 does not extend the time on a continuing-offence basis. Cognizance taken after the prescribed limitation period is therefore without jurisdiction. On the stated facts, cognizance was in time only for the complaint relating to the last half-year period, while the remaining complaints were time-barred.

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Issues: Whether failure by a receiver to file the half-yearly abstract of accounts required under section 421 of the Companies Act is a continuing offence or a completed offence, and whether cognizance taken beyond the limitation period is barred under the Code of Criminal Procedure, 1973.

Analysis: The obligation to file the abstract arises once in every half-year while the receiver remains in possession of the company's property. The omission to file for a particular half-year becomes complete when that half-year ends and does not continue until compliance. The offence under section 423 read with section 421 of the Companies Act is punishable with fine only and, in the absence of a special limitation provision in the Companies Act, the limitation regime under section 468 of the Code of Criminal Procedure, 1973 applies. Since the default is not a continuing offence, section 472 does not apply. The complaint must therefore be lodged within the prescribed limitation period, and belated cognizance is without jurisdiction. On the facts, cognizance was within time only for the complaint relating to the period July 1, 1976 to December 31, 1976, and was time-barred in the remaining cases.

Conclusion: The default under section 421 is a completed offence, not a continuing offence. Cognizance taken beyond limitation is barred, except for the complaint relating to the last half-year period, which was within time.

Final Conclusion: The petitions were substantially allowed by quashing cognizance in the time-barred matters, while the prosecution for the last half-year default was left undisturbed.

Ratio Decidendi: Failure to file a recurring statutory return for a specified half-year is a completed offence on expiry of that half-year, and where the offence is punishable with fine only and no special limitation is provided, cognizance must be taken within the limitation period under section 468 of the Code of Criminal Procedure, 1973.

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