TaxTMI 
TaxTMI 
1997 (9) TMI 524
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....pondent. JUDGMENT N.J. Pandya, J. - Rule. Mr. Padia waives service. It is very surprising that the court of the Metropolitan Magistrate as well as the City Sessions Court both have been carried away by the argument advanced on behalf of the original accused that in view of the amendment in section 113 of the Companies Act, 1956 (for short "the Act"), punishment can be done to the defaulting res....
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.... court can exercise its jurisdiction and the punishment has to be awarded by a competent court established under the Code of Criminal Procedure. It is not to say that the statute, creating an offence may not provide for a forum duly empowered to deal with penal provisions. In the instant case, as one reads the amendment introduced in the year 1986, in the Companies Act in place of what is ordinari....
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....urt, ordinarily is to be understood with reference to the Civil Procedure Code and whenever there is a reference to a principal court of original jurisdiction, it would be a District Court and that was originally known in the Act and very rarely the High Court came into the picture as the court of first instance. In the year 1988, there came to be brought amendments, one of which was to constitut....
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....er originally exercised by a civil court, i.e., the District Court in the nature of passing a decree for specific performance and, therefore, it cannot be read to mean that for exercising penal jurisdiction also, the Board has power. The scheme of things that have changed is only with regard to substitution of the court by the Company Law Board in relation to certain civil matters, but so far as ....