AKSHAR FINANCE LTD. Vs. STATE OF GUJARAT

JUDGEMENT

(1.) M /s. Akshar Finance Ltd. along with 4 Directors are before this Court praying that,

(2.) LEARNED advocate, Mr.K.H.Baxi,for the applicants invited the attention of the Court to Sections 159 and 160 of the Companies Act. Section 159 of the Companies Act titled as "Annual return to be made by company having a share capital" as against that Section 160 titled as "Annual return to be made by company not having a share capital".(emphasis supplied).

(3.) LEARNED advocate for the applicants submitted that the complaint suffers from non application of mind inasmuch as Sections 159 and 160 can individual go together. If the Company is with share capital Section 159 will apply and if the Company is without share capital Section 160 will apply but the sections can individual apply together.