VAKAMULLA CHANDRASHEKHAR Vs. REGISTRAR OF COMPANIES

JUDGEMENT

(1.) This petition has been filed under Sec. 482 of the Code of Criminal Procedure, 1973 (in short, 'Cr.P.C.') praying for the quashing of the order dtd. 13/8/2019 passed by the learned Additional Sessions Judge-03 and Special Judge (Companies Act), Dwarka Courts, South-West, New Delhi (hereinafter referred to as 'Special Judge') in Complaint Case No. 438/2019, titled ROC v. Vakamulla Chandra Shekhar and Ors., restoring the said case that had been dismissed due to non-appearance of the respondent, vide order dtd. 24/4/2019 passed by the learned Special Judge.

(2.) The petitioner also challenges the order dtd. 16/4/2022 passed by the learned Special Judge issuing summons to the petitioners on the above Complaint for offence under Ss. 447/448 of the Companies Act, 2013 (in short, 'Companies Act'), and all consequentially proceedings emanating therefrom.

(3.) The respondent has filed the above mentioned complaint under Ss. 447/448 of the Companies Act alleging therein that the accused company had not utilised the IPO proceeds of 1540.56 Lakhs for the purposes stated in the prospectus, and had diverted the proceeds to various entities through group companies and other entities.