TaxTMI 
TaxTMI 
2026 (9) TMI 1936
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....nal Case No.7263 of 2014 lodged before the learned Chief Judicial Magistrate, Gandhinagar, dated 21.07.2014 and order passed below Exh.1 dated 04.08.2014 along with all prior and subsequent proceedings thereto. 2. The facts, in nutshell, are as follows: 2.1 It is the case of the Registrar of Companies that M/s.Neesa Leisure Limited incorporated under the Companies Act, 1956 ('the Act', for short) having its registered office at Cambay Square, Plot No.X-22-24, GIDC Electronic Estate Sector 25, Opp. Hill Wood School, Gandhinagar, Gujarat wherein in the said criminal case accused no.1 being the company and accused nos.2 to 11 the Directors of the accused no.1 company at the relevant time when the Hon'ble Company Law Board ('CLB', for sho....
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....s argued that on the date of passing of such order, the present applicant had already resigned as non-executing director in the said company. 3.2 Learned advocate Mr. Patel would further submit that the said criminal complaint was filed by respondent no.2 herein - ROC with regard to non-compliance of the order of the CLB directing the company to return the deposits of the depositors invited under Section 58A of the Act, however, no specific allegation of whatsoever nature are alleged against the present applicant nor was the applicant involved any day-to-day affairs of the company and having failed to attribute any overtact to the present applicant, the applicant ought not to be prosecuted. 3.3 Learned advocate Mr.Patel would also sub....
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....ed by the CLB and thus it is argued to reject the present application. 5. Heard learned advocates for the parties. 5.1 At the outset, learned advocate for the applicant would handover copy of Form No.32 which would reflect the designation of present applicant as Additional Independent Director and also a non-executive director in Neesa Leisure Limited. Further, letter dated 03.12.2010 addressed to Neesa Leisure Limited by the IFCI Limited would reflect that Shri V. Anish Babu, Senior Associate Vice President of IFCI was appointed on behalf of IFCI as a nominee on the Board of Directors of the company. Even, for the sake of argument, if it is believed that on the date of passing of order dated 29.03.2014 passed by CLB pursuant to which....
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.... more Directors of such industrial concern, such provision and any appointment of Directors made in pursuance thereof shall be valid and effective notwithstanding anything to the contrary contained in the Companies Act, 1956 (1 of 1956), or in any other law for the time being in force or in the memorandum, articles of association or any other instrument relating to the industrial concern, and any provision regarding share qualification, age limit, number of directorships, removal from office of Directors and such like conditions contained in any such law or instrument aforesaid, shall not apply to any Director appointed by the Corporation in pursuance of the arrangement as aforesaid. (3) Any Director appointed in pursuance of sub-s....