2002 (2) TMI 1245

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nted the administrator to take over the assets of the company and to sell the same in order to make payment to the depositors. The administrator Mr. M. Ravindran, senior counsel of the Madras Bar filed a memo on August 16, 2000, wherein he has stated that one Mr. Vijayakumar, the managing director of M/s. Goodluck Inn (P.) Ltd. entered into an agreement with Mr. C. Natesan of Anubhav Plantations to sell certain lands of an extent of 5.28 acres in Kazhipattur Village for a total consideration of Rs. 26,40,000. The said Mr. Vijayakumar also entered into an another agreement with the said Mr. Natesan to sell another land of an extent of 5.42 acres of the same village for a consideration of Rs. 27.10 lakhs. Yet another agreement was also entere....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....h-II, C.B.C.I.D., Chennai-2, to proceed further to prosecute the accused persons, named in the report, file a chargesheet, substantiate the charges and proceed further according to law. The police may file a report once in six months setting out the progress of the criminal prosecution. If the police require any further direction, it is open to them to move this court. The concerned Magistrate court where the chargesheet is filed is directed to take up this case out of turn, try and dispose of the case as expeditiously as possible. The prosecution shall file a memo before the concerned criminal court and bring this direction to the attention of the said court. The Registry is directed to issue a copy of the proceedings to the said ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Companies (Court) Rules provides the inherent power which runs as follows : "Nothing in these rules shall be deemed to limit or otherwise affect the inherent powers of the court to give such directions or pass such orders as may be necessary for the ends of justice or to prevent abuse of the process of the court." The administrator also relied upon the judgment of the Supreme Court in the case reported in A.R. Antulay v. Ramdas Sriniwas Nayak AIR 1984 SC 718, and contended that anyone can take note of the offence and put the criminal law in motion and this being the prosecution, the company court has set the criminal law in motion and as such the order of the learned judge directing the prosecution is quite legal. We carefully ....