TaxTMI 
TaxTMI 
2013 (4) TMI 365
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....k with Mr. Arjun Malik, Advocates JUDGMENT 1. By virtue of these Petitions under Section 482 of the Code of Criminal Procedure("Code"), the three Petitioners (Krishna Kumar, Subhash Chandra Gupta and Dharmendra Kr. Lila) seek quashing of the complaint under Section 63 read with Section 628 of the Companies Act, 1956(Act of 1956) filed against them by the Registrar of Companies(ROC) on the premis....
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....but the prospectus which was in force and in circulation at the time the public issue was open and which was deposited with the Delhi Stock Exchange was duly signed by all the directors including the three Petitioners and, therefore, at this stage this Court acting under the powers under Section 482 of the Code could not make any inquiry whether the Petitioners authorised the issue of prospectus o....
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.... the three Petitioners were the directors and signatories of the prospectus. Thus, it cannot be said that the learned ACMM while taking cognizance and issuing the process was misled by the averments made in para 2 of the complaint or that the averments were false. It has to be borne in mind that at the stage of issuing the process, the Magistrate is not required to record detailed reasons. Moreove....
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....in a High Court on the broad principle that in case the allegations made in the FIR or the criminal complaint, as may be, prima facie do not disclose a triable offence there can be reason as to why the accused should be made to suffer the agony of a legal proceeding that more often than not gets protracted. A prosecution which is bound to become lame or a sham ought to interdicted in the interest ....