2007 (8) TMI 459

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....Arora for the Petitioner. JUDGMENT 1. Two complaints were filed on 19-2-2002, against the petitioners. The complaints were for an alleged offence under sections 62 and 63 of the Companies Act, 1956. 2. One complaint related to stated defaults committed by the petitioners, disclosed to be the directors of H.B. Stock Holding Ltd., when annual return was filed on 28-12-1992. The second compl....

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....ount and records of the company was ordered on 26-5-1998. The inspection was completed in August 1998 and report was submitted to the Registrar of Companies. 6. If that be so, actionable knowledge would be attributable to the Registrar of Companies, the person aggrieved, as held in the report published as Registrar of Companies v. Rajshree Sugar & Chemicals Ltd. [2000] 25 SCL 510 (SC), when the....

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....ed that such a view would be beneficial to the accused for otherwise the Registrar of Companies would be compelled to rush through with the matter. 8. The arguments seems attractive at the first blush. But it has no legs to stand. 9. Legislature does not intend the parties to immediately rush to court when the cause of action accrued. A sufficient period is given within which the matter coul....