1977 (11) TMI 119

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....this court. I may mention that the petitioners are directors of M/s. Western U.P. Electric Power & Supply Co. Ltd. and the defaults in respect of which this petition has been moved for relief are in respect of holding the annual general meeting for the period ending 31st March, 1976, and for other consequential defaults. It is unnecessary to deal with the nature of the default in this petition because the sole question for consideration on the petition is whether this court has jurisdiction to deal with this petition even after a complaint has been filed before a Magistrate in respect of the defaults concerning which relief is sought. The objection raised is not at all a new one. It has been dealt with by me in several previous cases but....

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....fect that if a director anticipates that a proceeding might be brought against him or will be brought against him, he can apply to the High Court and say that he was acting reasonably and honestly in the circumstances of the case and he should be relieved of that default. In such a case, the High Court has the same power to grant relief as a court would have if the proceedings in respect of the default were actually being tried. The point at issue before me is whether the power of the High Court is concurrent with the power of the Magistrate trying an offence under the Companies Act or whether it is non-simultaneous. Obviously, the two sections have to be read as being anticipatory in the case of the High Court's jurisdiction and to be e....

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....into an actuality. The learned counsel has referred to G.D. Bhargava v. Registrar of Companies [1970] 40 Comp. Cas. 664 (All.) and P.C. Pothen, Liquidator of the Commonwealth Bank Ltd. (In Liquidation), ILR [1966] 1 Ker. 1, in which both courts have held that the powers of the High Court are the same as that of the Magistrate, As indicated above I am in perfect agreement with this conclusion. In fact, this is what the section states. These two cases do not deal with what the power of the High Court is after a proceeding has been actually initiated in a criminal court. I may also indicate that the other court covered by section 633(1) need not necessarily be a criminal court because there may very well be a civil proceeding, criminal proceed....