TaxTMI 
TaxTMI 
2025 (10) TMI 1434
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....is also common, seeking quashing of the criminal complaints pending before the Trial Court. 2. Petitioners herein seek quashing of two pending criminal complaint cases bearing CC No. 2619/2020 and CC No. 4735/2020, both under section 138 of the NI Act filed by complainant company titled as "Raghav Aditya Chits Pvt Ltd. vs Space Services (India) Pvt Ltd. & Ors." The petitioners were directors of the accused company i.e. M/S Space Services (India) Pvt Ltd. After filing of the complaints the complainant company has been wound up in accordance with law, hence the quashing petitions. 3. Brief background, shorn of unnecessary details, giving rise to both the petitions in hand are that to discharge its liability, a Cheque No. 033217 dated 10....
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....istent company, amounting to abuse of process. 3.5 The Petitioners filed applications before the learned MM, Rouse Avenue Courts, seeking dismissal of both complaints as non-maintainable, submitting certified ROC records and the complainant company strike-off notification. 3.6 The learned MM, vide order dated 22.12.2022, dismissed the Petitioners' applications, holding that maintainability could not be decided post-cognizance, and directed both complaints to proceed to the stage of framing notice under Section 251 CrPC, leading to the present petitions. 4. Learned counsel for the Petitioners argues on the lines of the grounds pleaded in both petitions, urging inter alia, that the Respondent No.2 company (the Complainant company) wa....
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....at the alleged board resolutions authorising representatives of Respondent No.2 are false and fabricated, as the directors had already ceased to hold office and were disqualified under Section 164. Any continuation of business, operation of bank accounts, or initiation of legal proceedings by ex-directors defeats the statutory intent of dissolution under Section 248. 4.6 That the Trial Court erred in law by misinterpreting Sections 248 and 250 of the Companies Act and Section 256 CrPC, while passing summoning orders dated 21.12.2020 and 05.10.2021, despite the complainant company being struck off at the time of filing. 4.7 It is the argument that upon dissolution, all assets, bank accounts, and properties of Respondent No.2 automatica....
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....sing impugned order dated 22.12.2022 for the reasons stated herein after. 6. First and foremost, before adverting to merits, the order-sheet of the case file reflects that respondent no. 2 was being represented through a counsel. However, none appears today. It so seems that in view of the detailed order dated 13.10.2023 passed by Coordinate Bench of this Court, the Complainant/Respondent No. 2 has accepted the futility of the lis as fait accompli. Since the accused company M/s. Raghav Aditya Chits Pvt Ltd. has been dissolved in accordance with law. After perusal of the case file vis-a-vis the preliminary observations in the aforesaid order, with which I am in agreement, that alone suffices for both the present petition to be allowed. ....
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....ors or ex Authorized Signatories. These individuals will therefore not be able to operate bank accounts of such companies till such companies are legally restored under Section 252 of the Companies Act by an order of the National Company Law Tribunal. The restoration, as and when it happens shall be reflected by change in the status of the company from Struck of to Active. Since such "Struck off" companies have ceased to exist, action has been initiated to restrict the operation of Bank accounts of such companies. The Department of Financial Services has, through the Indian Banks Association, advised all Banks that they should take immediate steps to put restrictions on bank accounts of such struck off companies. A list of such com....
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....ist in law, their directors become exdirectors, and their bank accounts remain frozen until such companies are restored under Section 252 of the Act. This notification, issued in the context of a large-scale corporate clean-up, reinforces that any transactions or operations by a struck-off company would be legally impermissible until its restoration. 11. The cheques in question, dated 10.11.2019 in CC No. 2619/2020 and 10.10.2019 in CC No. 4753/2020, the subsequent legal notices, both dated 23.12.2019, and the complaints filed under Section 138 of the Negotiable Instruments Act, 1881, are all actions that occurred after the company's dissolution. This sequence clearly indicates that the company was non-existent in law at the time of thes....