THE OFFICIAL LIQUIDATOR, HIGH COURT OF KERALA, REPRESENTING MELROSE CHEMICALS (P) LTD. (IN LIQUIDATION) Vs. SRI. K.R. UNNIKRISHNAN NAIR, S/O. KUNJUNNI PILLAI,

JUDGEMENT

(1.) THE official Liquidator filed this criminal complaint against three accused, the managing director and two directors of the company under liquidation M/s. Melrose Chemicals Pvt. Ltd., alleging the commission of an offence punishable Under Section 454(5) of the Companies Act.

(2.) ACCORDING to the complainant this court passed an order appointing the Official Liquidator as the provisional liquidator of the company by order dt. 22.7.97 and the accused, who were the directors of the company at the time of the order appointing the provisional liquidator, failed to file the statement of affairs of the company and the liquidator issued notice in Form No. 55 requiring the accused to furnish the statement of affairs within 21 days and though accused 1 and 3 accepted the above notice, they did not file the statement of affairs and hence they committed the offence Under Section 454(5) and are liable to be convicted for the said offence. The 2nd accused was reported dead.

(3.) THE points for consideration are: