2003 (1) TMI 527

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....ORDER 1. The petitioner is the accused in EOCC 577/2002 on the file of Additional Chief Metropolitan Magistrate pending against him. 2. The petitioner was one of the directors of the complainant/company. He was also functioning as Chief Executive Officer. The assets listed in the complaint were given to him for use. Pursuant to the appointment of Mr. P.H. Rao, as managing director of the company....

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....id that the petitioner is withholding the assets of the company and the assets have become his own. The petitioner also disputes the value of the assets and claim that the company owes the petitioner various sums of money for more than the amount claimed in the debit note, and hence he adjusted the amounts claimed in the debit note and requested the company to pay the balance to him. This is purel....

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....wamy v. Coimbatore Pineer Mills [2002] 2 Crl. LW 715 submits that this is purely a question of civil dispute between the parties and section 630 of the Companies Act is not attracted. This court under section 630 is of a civil nature : resorting to section 630 would be a misconceived one. On the facts of the particular case, this court held that bona fides were found wanting and when the dispute b....

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....e is absolutely no evidence let in by either side to appreciate any dispute bona fide between the parties. At the threshold of the case, the petitioner seeks to quash the proceedings. On the face of the complaint, I am unable to hold at this stage that it is purely a civil matter. It is for the Trial Court to decide after recording evidence as to whether the ruling rendered by this Court in G. Ram....