V.M. MODI Vs. STATE OF GUJARAT

JUDGEMENT

(1.) BY means of filing this application under section 482 of the Criminal Procedure Code, 1973, the petitioner who is the original accused has prayed to quash Criminal Case No. 760 of 1994 instituted in the court of the learned Additional Chief Metropolitan Magistrate, Ahmedabad, by respondent No. 2 regarding the alleged commission of offence punishable under section 621A of the Companies Act, 1956.

(2.) ONE Mrs. Pushpaben Sumantrai Nayak holds five equity shares of Rs. 10 each of Atul Products Ltd. jointly with her husband, Mr. Sumantrai Gopalji Nayak. On November 30, 1990. Mrs. Pushpaben executed four deeds for transferring one equity share each in favour of :

(3.) FEELING aggrieved by the action of the company, respondent No. 2 preferred Appeal No. 42(iii) CLB/WR/1990, before the Company Law Board (Western Region Bench), Bombay, under the provisions of section 111 of the Companies Act, 1956. The Company Law Board passed an order dated September 18, 1992 [See Dipakkumar Jayantilal Shah v. Atul Products Ltd. [1995] 82 Comp Cas 603 (CLB)], directing Atul Products Limited, to register the transfer. The said order dated September 18, 1992, was sent by the Company Law Board, vide its letter dated September 25, 1992, which was received by Atul Products Limited on September 30, 1992.