1966 (4) TMI 51

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....DGMENT Gangeshwar Prasad, J. - This is an appeal by a complainant against the appellate order of acquittal passed by the learned Sessions Judge of Saharanpur in a case which was started by Raghunath Swarup Mathur, complainant, against Har Swarup Mathur, respondent, for the alleged contravention of section 269(2) of the Companies Act. At Saharanpur there is a company known as the Co-operative....

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....te who tried the case found the accused guilty under section 269(2) of the Companies Act and sentenced him to a fine of Rs. 500 and also to a recurring fine of Rs. 25 per day for every day the contravention continued after the passing of the order. In default of payment of fine the accused was directed to undergo simple imprisonment for a period of one month. It was also provided in the order of t....

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....Where a public company or a private company which is a subsidiary of a public company, is an existing company, the re-appointment of a person as a managing or whole-time director for the first time after the commencement of the Companies (Amendment) Act, 1960, shall not have any effect unless approved by the Central Government." Mr. Asif Ansari, learned counsel for the complainant, has contende....

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....ct can be regarded as an offence there must be a specified statutory prohibition against the commission of the act and such a prohibition is entirely lacking in section 269(2) of the Companies Act. Mr. Asif Ansari has further contended that even in the absence of such a prohibition in section 269(2) of the Companies Act, the person acting as a managing director without the approval of the Central ....