1992 (2) TMI 293

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....91 on the file of the Additional Chief Metropolitan Magistrate (E.O.I.), Madras, has filed this petition under section 482, Criminal Procedure Code, praying to call for the records in the aforesaid case and to quash the same. The respondent has filed a private complaint against the petitioner in C.C. No. 123 of 1991 for an offence under section 630 of the Companies Act. The allegations in it are ....

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....e under section 630 of the Companies Act. It is a continuing offence. The offence is being committed till such time as the accused delivered possession of the property belonging to the company. Hence the complaint. Mr. K.N. Thampi, learned counsel appearing for the petitioner, would submit that the penalty for the offence under section 630 of the Companies Act is only fine which may extend to Rs.....

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....88] 63 Comp Cas 1 . Though the beneficent provision contained in section 630 is penal, it has been purposely enacted by the Legislature with the object of providing a summary procedure for retrieving the property of the company, ( a) where an officer or employee of a company wrongfully withholds possession of property of the company, or (b) where, having been placed in possession of any such prope....