AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
1951 (7) TMI 11
X X X X Extracts X X X X
X X X X Extracts X X X X
....Roxburgh, J. - This is a Rule against an order of Mr. A. Mukherjee, Magistrate, 1st Class, Nadia, rejecting a contention by an accused, who has been prosecuted under section 409 of the Indian Penal Code, that, as the provisions of section 237 of the Indian Companies Act had not been observed, the complaint by the liquidator was not valid and the complaint should be dismissed. This matter was be....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s contended that this power relates only to prosecution of what may be called outsiders, and that section 237 of the Indian Companies Act relates to offences committed by officers of the bank. It is further contended that under section 237 no prosecution can be made unless the court has given a direction for one to be started. In my opinion, this contention is not valid. I cannot, however, agree w....
X X X X Extracts X X X X
X X X X Extracts X X X X
....f all persons other than managers and directors of the Bank. The discretion as to what powers are to be given to the Official Liquidator is entirely with the court. If the court, as in the present case, gives an unrestricted power under that section, then, in my opinion, the liquidator is entitled, without any further reference to the court, to institute any prosecution such as the present. I m....