RASIKLAL S. MARDIA Vs. STATE OF GUJARAT

JUDGEMENT

(1.) The present Criminal Misc.Application under Section 482 of the Code of Criminal Procedure has been preferred by the petitioner - original accused to quash and set aside the impugned complaint being Criminal Case No.153 of 2005 pending in the Court of learned Additional Chief Metropolitan Magistrate, Ahmedabad for the offences punishable under Sections 58A (10) and 58AAA of the Companies Act, 1956 ("the Act" for short).

(2.) It appears that the impugned complaint was filed by the respondent No.2 - original complainant - Registrar of Companies against the petitioner herein alleging inter-alia that the order passed by the Company Law Board dtd.07/05/2003 passed under Section 58A of the Act to make repayment of all the matured deposits, as stated in the said order, has not been complied with.

(3.) It appears and it is reported that during the pendency of the present proceedings, whatever amount was required to be paid under the order passed by the Company Law Board, has already been paid, more particularly to The Army Group Insurance Fund and order passed by the Company Law Board of breach alleged have been complied with. Therefore, it is requested to permit the petitioner to compound the offence as alleged. It is submitted that the offence alleged is compoundable offence. Mrs.Pahwa, learned advocate appearing on behalf of the petitioner has requested to permit the petitioner to compound the offence by further submitting that the petitioner is ready and willing to deposit the costs which may be determined by this Court while permitting the petitioner to compound the offence.