https://www.taxtmi.com/caselaws?id=102653 The HC held that a criminal complaint under the Companies Act was liable to be quashed where the petitioners had shown they had resigned from the board before the alleged default and the complaint was instituted after a long delay. It treated the delay as a material factor against prosecution and noted that offences punishable only with fine must be filed within the limitation period prescribed by the Code of Criminal Procedure. Exercising inherent jurisdiction, the Court terminated the prosecution against both petitioners on the combined grounds of lack of continuing directorship and statutory limitation. en-us Fri, 09 Dec 1994 00:00:00 +0530 Wed, 15 Feb 2012 16:21:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102653 The HC held that a criminal complaint under the Companies Act was liable to be quashed where the petitioners had shown they had resigned from the board before the alleged default and the complaint was instituted after a long delay. It treated the delay as a material factor against prosecution and noted that offences punishable only with fine must be filed within the limitation period prescribed by the Code of Criminal Procedure. Exercising inherent jurisdiction, the Court terminated the prosecution against both petitioners on the combined grounds of lack of continuing directorship and statutory limitation. Case-Laws Companies Law Fri, 09 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102653