https://www.taxtmi.com/caselaws?id=96739 An offence under Section 134 of the Indian Companies Act, 1913 could not be sustained where the balance-sheet had not first been laid before the general meeting, because the section presupposed that prior step; convictions under Section 134(4) were therefore set aside. Liability under Section 131(4) for default in preparing and laying the balance-sheet could not be imposed on persons who became directors, officers, or shareholders only after the default had already occurred, so the convictions of those later entrants were quashed. The first petitioner's conviction under Section 131(4) was maintained, as the court found that conviction and sentence proper. en-us Fri, 11 Dec 1936 00:00:00 +0530 Tue, 10 Jan 2012 16:48:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96739 An offence under Section 134 of the Indian Companies Act, 1913 could not be sustained where the balance-sheet had not first been laid before the general meeting, because the section presupposed that prior step; convictions under Section 134(4) were therefore set aside. Liability under Section 131(4) for default in preparing and laying the balance-sheet could not be imposed on persons who became directors, officers, or shareholders only after the default had already occurred, so the convictions of those later entrants were quashed. The first petitioner's conviction under Section 131(4) was maintained, as the court found that conviction and sentence proper. Case-Laws Companies Law Fri, 11 Dec 1936 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96739