https://www.taxtmi.com/caselaws?id=387061 The Court found in favor of the petitioners, a company and its officials, in a case concerning the violation of Section 97(1) of the Companies Act, 1956. The Court held that the prosecution initiated against them for failing to comply with the requirements of Section 97 was time-barred as it exceeded the 30-day period specified in the Act. The Court quashed the proceedings but clarified that authorities could still pursue recovery of any due fines. The judgment clarified the timeline for prosecution initiation under Section 97 and determined that the offence under Section 97(1) is not a continuing offence. en-us Fri, 07 Jun 2019 00:00:00 +0530 Wed, 16 Oct 2019 11:35:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387061 The Court found in favor of the petitioners, a company and its officials, in a case concerning the violation of Section 97(1) of the Companies Act, 1956. The Court held that the prosecution initiated against them for failing to comply with the requirements of Section 97 was time-barred as it exceeded the 30-day period specified in the Act. The Court quashed the proceedings but clarified that authorities could still pursue recovery of any due fines. The judgment clarified the timeline for prosecution initiation under Section 97 and determined that the offence under Section 97(1) is not a continuing offence. Case-Laws Companies Law Fri, 07 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387061