https://www.taxtmi.com/caselaws?id=98208 Offences under the Companies Act are described as triable by the ordinary criminal courts under the Code of Criminal Procedure, subject to the jurisdictional limit that only a Presidency Magistrate or a Magistrate of the First Class may try them; the provision does not create a persona designata or exclude the ordinary criminal process. Relief from liability under section 633(1) requires proof of both honesty and reasonable conduct, and unsupported explanations are insufficient. On punishment, prior good conduct and limited prejudice to the company and creditors may justify moderation of sentence, and a nominal fine may be treated as sufficient. en-us Fri, 05 Feb 1965 00:00:00 +0530 Thu, 19 Jan 2012 16:26:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98208 Offences under the Companies Act are described as triable by the ordinary criminal courts under the Code of Criminal Procedure, subject to the jurisdictional limit that only a Presidency Magistrate or a Magistrate of the First Class may try them; the provision does not create a persona designata or exclude the ordinary criminal process. Relief from liability under section 633(1) requires proof of both honesty and reasonable conduct, and unsupported explanations are insufficient. On punishment, prior good conduct and limited prejudice to the company and creditors may justify moderation of sentence, and a nominal fine may be treated as sufficient. Case-Laws Companies Law Fri, 05 Feb 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98208