https://www.taxtmi.com/caselaws?id=104625 Cognizance of offences under the Companies Act, 1956 is confined to complaints by persons having statutory locus under section 621, namely the Registrar, a shareholder, or a person authorised by the Central Government, save for offences falling within the statutory exception. Where no shares or debentures were allotted and the refund of application money had been sent, the complainant and his wife were not shareholders and therefore lacked competence to initiate the complaint. As the alleged offences did not fall within the exception, the criminal proceedings were unsustainable and were quashed. en-us Tue, 10 May 1994 00:00:00 +0530 Wed, 29 Feb 2012 17:39:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104625 Cognizance of offences under the Companies Act, 1956 is confined to complaints by persons having statutory locus under section 621, namely the Registrar, a shareholder, or a person authorised by the Central Government, save for offences falling within the statutory exception. Where no shares or debentures were allotted and the refund of application money had been sent, the complainant and his wife were not shareholders and therefore lacked competence to initiate the complaint. As the alleged offences did not fall within the exception, the criminal proceedings were unsustainable and were quashed. Case-Laws Companies Law Tue, 10 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104625