T T SRINIVASARAGHAVAN Vs. REGISTRAR OF COMPANIES

JUDGEMENT

(1.) This Petition is filed by the Managing Director of M/s. Sundaram Finance Limited, to relieve him wholly or partly from the alleged liability, pursuant to Show Cause Notices bearing F. Nos. 2429/209A/STA-RRR/2011 & 2429/209A/STA-RRR/2011 dated 21.10.2011. The facts stated in the Petition are as follows:

(2.) According to the Petitioner, the Company and its board of Directors complied with law in all aspects governing the Company and they always acted honestly and reasonably and there is no violation much less deliberate violation of any of the provisions or provision of the law under Section 289. Non-compliance as referred to in the Show Cause Notice does not exist and all the requirements under the law are fully complied with in the manner of conduct of meeting and the Show Cause Notice issued is without any basis.

(3.) Whereas, the learned Counsel for the Respondent, both in the counter and in the arguments advanced before this Court, opposed the relief sought for herein, by reiterating its stand regarding non-compliance of the statutory requirements.