https://www.taxtmi.com/caselaws?id=110244 Substantial completion of the statutory strike-off process may render prosecution against a company and its directors unsustainable where the competent authority has favourably processed the application, completed public notice requirements, and moved towards final dissolution. Under the Companies Act, 1956, the strike-off mechanism contemplated dissolution following completion of the prescribed procedure and publication of notice. Continuation of criminal proceedings for failure to increase paid-up capital was treated as inconsistent with the department's own action under the applicable circular scheme. The proceedings were therefore liable to be quashed. en-us Thu, 28 Oct 2004 00:00:00 +0530 Sat, 14 Apr 2012 13:18:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110244 Substantial completion of the statutory strike-off process may render prosecution against a company and its directors unsustainable where the competent authority has favourably processed the application, completed public notice requirements, and moved towards final dissolution. Under the Companies Act, 1956, the strike-off mechanism contemplated dissolution following completion of the prescribed procedure and publication of notice. Continuation of criminal proceedings for failure to increase paid-up capital was treated as inconsistent with the department's own action under the applicable circular scheme. The proceedings were therefore liable to be quashed. Case-Laws Companies Law Thu, 28 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110244