1990 (3) TMI 279

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....airavia, J. - This appeal has been filed by the State against the judgment and order dated June 12, 1981., passed by the learned Chief Metropolitan Magistrate, Ahmedabad, in Criminal Case No. 69 of 1981 whereby the learned Metropolitan Magistrate acquitted the respondents-accused of the offences punishable under section 621(1A) of the Companies Act, 1956. It is the prosecution case that one Shr....

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....pondents-accused have committed no offence and, consequently, acquitted the respondents of the offence with which they were charged. The State has filed this appeal challenging the said judgment and order of acquittal. In order to appreciate the case of the prosecution that the respondents-accused have committed a breach of section 383A of the Companies Act, it would be just and proper first to....

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.... rupees twenty-five lakhs or more, he shall, within a period of six months from such commencement exercise his option as to the company of which he intends to continue as the secretary and shall, on and from such date, vacate office as secretary in relation to all other companies." Section 383A(2)(b) of the Companies Act is very clear on the point in the case of an individual holding post of co....