D.B. NEGANDHI Vs. REGISTRAR OF COMPANIES

JUDGEMENT

(1.) I have heard the arguments of the learned counsel for the petitioners and perused the records.

(2.) THOUGH the respondent is served with notice and represented, but he remained absent before the Court today.

(3.) IN Crl.P.5894/2010 (C.C. No.44/2006) pending on the file of Special Court (Economic Offences), Bangalore, it is alleged that the accused inspite of issuance of letters by the Inspecting Officer to the Company to produce the books of account and other records before him for inspection, the Company and its Directors failed to produce the same. Therefore, in exercise of the powers vested in the Inspecting Officer in terms of Section 209A(5) of the Act, the Inspecting Officer summoned the accused on 24.1.2005 requiring them to appear before him in the office of the complainant on 31.1.2005 at 2.00 p.m. to give evidence and to furnish details regarding shareholding pattern of the company's promoters/Directors and their associates, details regarding the funds raised by the public issue and the end use of the said funds together with the fund flow statements year -wise and to produce, either personally or through an authorised representative, the relevant books of accounts and other books etc. Further they failed to appear and produce the books of accounts and other books and papers before the Inspecting Officer. Therefore, it is alleged that the accused have committed an offence punishable under Section 209A(8) of the Companies Act. Therefore, the complainant filed a complaint before the said Court for the purpose of taking action under the said provision.