2014 (5) TMI 942

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....ing of the winding up petition, it is claimed that the company in liquidation had six directors, out of which, three directors had resigned from the directorship from 16.3.1999 and another director resigned on 20.10.1997. Petitioners 1 and 2, continuing as directors as on the date of the winding up order, were permanent residents of Mumbai and it was the other directors, who were in charge of the management and the day to day affairs of the company. The first petitioner claims to be permanently disabled and aged. It is further stated that the company in liquidation had stopped functioning since November 1997 and other four directors having resigned from directorship, all the activity had come to a stand still. It is pursuant to the order o....

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.... is in the above circumstances that the respondent is said to have filed a complaint before the Special Court for Economic Offences under Section 538(1)(c) of the Act read with Rule 9 of the Companies (Court) Rules, 1959 in CC No. 131/2008 against the petitioners along with four other directors, who had ceased to be directors. The petitioners were named as accused nos.4 and 5 while the ex-directors were named as accused nos.1,2,3 and 6. It was alleged that the present petitioners and other ex-directors had failed to comply with the directions issued in filing the statement of affairs etc. Those proceedings were sought to be stayed by recourse to an application in CA 1578/2013 which was allowed by an order dated 12.11.2013 and all further pr....