P. SUBRAMANI Vs. THE RESERVE BANK OF INDIA, REP. BY ITS AUTHORISED OFFICER, SHRI R.PARTHASARATHY, ASST. MANAGER, DEPARTMENT OF NON

JUDGEMENT

(1.) This revision has been filed against order passed by the learned Additional Chief Metropolitan Magistrate,(E.O.I), Egmore, Chennai, dismissing the petition filed by the revision petitioners under Sec. 245(2) of Crimial P.C. to discharge them from the criminal case.

(2.) The fact of the case, in brief, is as follows:-

(3.) The respondent/Reserve Bank of India, filed a detailed counter affidavit and contested the application stating that the petitioners were Directors of the first accused company and whether they have resigned the Director post on 21.10.1998 cannot decided in this petition, which can be determined only after framing charges and completion of trial. But, even during that period when they were functioning as Directors of the company, the Company Law Board passed various orders dated 28.04.1998, 22.06.1998, 207.1998, 05.10.1998 directing the first accused company and its Directors and concerned officers to repay the deposits along with interest. Those orders were not complied with by the first accused company and its Directors. The petitioners being the Directors during the relevant period they were also responsible to comply the orders passed by the Company Law Board. The respondent also specifically denying the fact that they have resigned from the post of the Directors of the first accused company with effect from 21.10.1998, and a show cause notice was also issued to the petitioners for non compliance of the order and being the Directors of the company, they are supposed to comply the order passed by the Company Law Board. The question is whether the petitioners are in-charge and responsible for the affairs of company can be decided the case only after framing the charges and completion of trial, and sought for dismissal of the application.