LAWS(APH)-2002-6-38

KREBA BIOCHEMICALS LIMITED Vs. REGISTRAR OF COMPANIES

Decided On June 06, 2002
KREBA BIOCHEMICALS LTD. Appellant
V/S
REGISTRAR OF COMPANIES Respondents

JUDGEMENT

(1.) The petitioners invoke the inherent powers vested in this Court under section 482 of the Code of the Criminal Procedure, 1973 ('the Act') to quash the proceedings in S.T.C. No. 61 of 1998 on the file of the Special Judge for Economic Offences, Andhra pradesh, Hyderabad.

(2.) The factual matrix that led to the filing of this petition can be briefly stated as follows :

(3.) It is alleged in the complaint that the petitioners violated the provisions of section 205A of the Companies Act, 1958. The complaint filed on 15-4-1998 was taken on file under section 205A(8) by the Special Judge for Economic Offences. Andhra Pradesh, Hyderabad. The complaint made is that the company failed to transfer the unpaid dividend to the special account within the time stipulated under section 205A(1).