2005 (8) TMI 397

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....r. JUDGMENT Sunil Ambwani, J. - This is an application under section 446 of the Companies Act for granting leave to the applicant to pursue the proceedings under section 138 of the Negotiable Instruments Act, pending in the court of the Chief Additional Metropolitan Magistrate, 40th court at Cirgaum, Bombay, against the company liquidator and the directors being complaint No. 2221/S of 1999 ....

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....he criminal proceedings pending against the directors of the company in respect of the affairs carried out by them, for and on behalf of company, must come to the knowledge of the court liquidating the company. In Official Liquidator v. R.C. Abrol [1977] 47 Comp. Cas. 537 (Delhi) and Harish C. Raskapoor v. Jaferbhai Mohmedbhai Bhai Chhatpar [1989] 65 Comp. Cas. 163 (Guj.) it was held that even cri....

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....he court at least must be informed about the misfeasance committed by the director in the matter of issuing cheques from the account of the company, which have been dishonoured. It is only where the permission is requested that the court may be informed by such proceedings. I do not find that the requirement of permission under section 446 will case any restriction in the matter of prosecution. Th....