https://www.taxtmi.com/caselaws?id=100946 Section 633(1) of the Companies Act, 1956 permits a court to consider relief before any finding of guilt, provided the person is or may be liable and the court then assesses whether the conduct was honest and reasonable and whether the person ought fairly to be excused. A Magistrate must apply these statutory stages on the materials before refusing relief; a refusal without recording findings on liability, honesty, reasonableness, and excusability is unsustainable. The revisional court therefore interfered because the application was not decided on the merits required by the provision and the matter was remitted for fresh consideration on the record. en-us Thu, 02 Feb 1984 00:00:00 +0530 Wed, 08 Feb 2012 10:32:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100946 Section 633(1) of the Companies Act, 1956 permits a court to consider relief before any finding of guilt, provided the person is or may be liable and the court then assesses whether the conduct was honest and reasonable and whether the person ought fairly to be excused. A Magistrate must apply these statutory stages on the materials before refusing relief; a refusal without recording findings on liability, honesty, reasonableness, and excusability is unsustainable. The revisional court therefore interfered because the application was not decided on the merits required by the provision and the matter was remitted for fresh consideration on the record. Case-Laws Companies Law Thu, 02 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100946