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Petitioners resigned as directors before alleged offence per Form-32, a public document. Respondent's letter can't override it.
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....The petitioners had resigned as directors on 23.02.1998, prior to the alleged cause of action, as evidenced by the certified copy of Form-32 filed by SEBI itself before the Trial Court. Form-32 is a public document recognized as evidence regarding directorship. The respondent's subsequent letter dated 27.04.1998 mentioning the petitioners as directors cannot override Form-32. Consequently, the High Court allowed the petition and quashed the Criminal Complaint pending against the petitioners.....