KARNATAKA THEATRES LTD Vs. RATNAVARAMA PADIVAL

JUDGEMENT

(1.) Shri B.V. Acharya for the petitioners and Shri Yadurayagowda for the respondent submitted that the matter itself may be heard finally on merits. Accordingly arguments on the final merits of the petition are heard and it is disposed of.

(2.) This is a petition by accused Nos. 1 and 3 to 10 against the order of issuing process by the Magistrate for the offence under section 163(5) of the Indian Companies Act.

(3.) The material facts are: The complainant who is a shareholder applied for a copy of the list of shareholders by his application dated 2-12-1985, which appears to have been received in the office of the company on 3-12-1985. The copy was furnished on 26-12-1985. According to the complainant, the copy was not furnished to him within ten days from the date of making a request as prescribed by section 163(4) of the Indian Companies Act. Thus, he contended that on account of the contravention of section 163(4), the company and all its directors including the petitioners are liable for the offence under section 163(5).