THIRUNAVUKKARASU RAGUNATHAN Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioners, who are Directors of an Incorporated Company, are before this Court seeking to quash Exts.P4 and P5 and to restore the Digital Signature Certificates and the Director Identification Numbers of the petitioners.

(2.) The petitioners were Directors of M/s.Chaya Industries Limited, M/s.Sunvis Systems Private Limited and M/s.Evcel Electrek Private Limited. It is the case of the petitioners that the business of M/s. Chaya Industries Limited were officially closed on 15.01.2008 due to labour unrest. The industry became sick and the 6 th and 7th respondent- Banks took possession of the land, plant and machinery. Securitisation proceedings were also initiated.

(3.) The petitioners have been filing statutory returns with the Registrar of Companies till 2013. After 2014, the assets of M/s.Chaya Industries were taken over by the banks and part of the assets were sold for recovery of dues. The petitioners therefore could not file statutory returns in the absence of sufficient data.