GTC INDUSTRIES LTD Vs. STATE OF DELHI

JUDGEMENT

(1.) These three petitions are taken up together. A detailed order was passed on 12.12.2006 with regard to the submissions made in these petitions. The order reads as under:-

(2.) Today, the counsel appearing on behalf of the petitioners have taken another point which, to me, appears to be of a fundamental nature. The point taken by the learned counsel for the petitioners is that paragraph 6 of the complaint under Section 371 for contravention of the provisions of Section 370 (1) of the Companies Act, 1956 refers to a letter of the Department of Company Affairs issued on 29.11.2004 whereby it accorded sanction and instructions for filing prosecutions against the accused persons. The learned counsel for the petitioners drew my attention to the said letter of 29.11.2004 Paragraphs 8 and 10 of the said letter are material and they read as under:-

(3.) A reading of the aforesaid extracts from the said letter dated 29.11.2004 indicates that the respondent (Serious Fraud Investigation Office) was required to provide the name of the nominated official for declaring him to be the competent authority under Section 621 (1) of the Act for filing the complaint. In pursuance of this direction, a notification was issued on 18.01.2005, whereby Shri Prit Paul Singh, Sr Assistant Director was notified as the nominated person to file the complaint on behalf of the respondent.