1994 (1) TMI 210

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....section 482 of the Code of Criminal Procedure the petitioners challenge the Criminal Complaint No. 47 of 1991, pending against them, before the Special Court of Judicial Magistrate (Economic Offences), Rajasthan, Jaipur, for the offence under section 220 of the Companies Act, 1956 ('the Companies Act'). At the relevant time, all the four petitioners are said to be the directors of Pratap Rajasthan....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ith the provisions of section 159, 160 or 161." A bare perusal of the aforesaid provision makes it clear that for non-compliance of the requirements of sub-sections (1) and (2) of section 220, the company and every officer of the company, who is in default, is liable to the punishment. Section 5 of the Act defines officer who is in default and it provides as under : "5. Meaning of 'officer who i....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... have any of the officers specified in clauses (a) to (c), any director or directors who may be specified by the Board in this behalf or where no director is so specified, all the directors : Provided that where the Board exercises any powers under clause (f) or clause (g ), it shall, within thirty days of the exercise of such powers, file with the Registrar a return in the prescribed form." The....