https://www.taxtmi.com/caselaws?id=101762 Section 633(2) of the Companies Act confers only preventive relief before proceedings are instituted; where criminal proceedings are already pending, relief, if any, lies under section 633(1) before the court seized of those proceedings. The petitioners also failed to show that they acted honestly and reasonably in relation to defaults in holding the annual general meeting, filing accounts, and remitting statutory dues, as financial stringency did not excuse non-compliance with mandatory company-law obligations. Relief was therefore unavailable on both grounds. en-us Fri, 14 Oct 1988 00:00:00 +0530 Wed, 12 Jan 2022 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101762 Section 633(2) of the Companies Act confers only preventive relief before proceedings are instituted; where criminal proceedings are already pending, relief, if any, lies under section 633(1) before the court seized of those proceedings. The petitioners also failed to show that they acted honestly and reasonably in relation to defaults in holding the annual general meeting, filing accounts, and remitting statutory dues, as financial stringency did not excuse non-compliance with mandatory company-law obligations. Relief was therefore unavailable on both grounds. Case-Laws Companies Law Fri, 14 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101762