Section 633(2) relief is confined to company-law defaults and does not extend to provident fund or insurance prosecutions.

Section 633(2) of the Companies Act, 1956 is confined to defaults, breaches of duty, misfeasance, or breach of trust arising under company law, and its expression "any proceeding" cannot be read to cover liabilities created by other enactments. The notice requirement under section 633(3) reinforces that the provision is directed to company-law proceedings, not to enforcement actions or prosecutions under special welfare statutes. Relief under section 633(2) is therefore unavailable in relation to proceedings, civil liabilities, or prosecutions under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 and the Employees' State Insurance Act, 1948.

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Issues: Whether relief under section 633(2) of the Companies Act, 1956 extends to proceedings, civil liabilities, and prosecutions arising under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 and the Employees' State Insurance Act, 1948.

Analysis: The relief under section 633 is confined by its setting, scheme, and the connected procedural provisions to defaults, breaches of duty, misfeasance, or breach of trust arising under the Companies Act, 1956. The expression "any proceeding" cannot be read in isolation so as to include liabilities created by other enactments. The requirement of notice under section 633(3) to the Registrar and other contemplated persons also indicates that the provision is directed to company-law proceedings and not to prosecutions or enforcement actions initiated by officers under special welfare statutes. Prosecutions and determinations under the Provident Funds Act and the Employees' State Insurance Act are therefore outside the scope of section 633(2).

Conclusion: Relief under section 633(2) is not available against proceedings or liabilities arising under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 or the Employees' State Insurance Act, 1948; the preliminary objection succeeds and the petition fails.

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