https://www.taxtmi.com/caselaws?id=100243 The court, under section 633(2) of the Companies Act, directed the Registrar of Companies to refrain from prosecuting the petitioners for violating section 58A regarding acceptance of deposits beyond prescribed limits. Despite repayment before the show-cause notice, the court emphasized the penal nature of the offense and the public interest involved, stating that companies cannot commit such offenses with impunity. The judge allowed the petition, considering the circumstances and the interpretation of the law based on previous judgments, ultimately deciding in favor of the petitioners. en-us Tue, 05 Oct 1982 00:00:00 +0530 Tue, 31 Jan 2012 16:54:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100243 The court, under section 633(2) of the Companies Act, directed the Registrar of Companies to refrain from prosecuting the petitioners for violating section 58A regarding acceptance of deposits beyond prescribed limits. Despite repayment before the show-cause notice, the court emphasized the penal nature of the offense and the public interest involved, stating that companies cannot commit such offenses with impunity. The judge allowed the petition, considering the circumstances and the interpretation of the law based on previous judgments, ultimately deciding in favor of the petitioners. Case-Laws Companies Law Tue, 05 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100243