NUTECH AGRO LIMITED Vs. CH MOHAN RAO

JUDGEMENT

(1.) This petition is filed to quash the proceedings in S.T.C. No. 30 of 1999 on the file of the Court of the Special Judge for Economic Offences, Hyderabad.

(2.) The first respondent filed the above S.T.C. under Section 163(5) of the Companies Act, 1956 ('the Act'), alleging that he is a shareholder, holding 46,600 shares in the first petitioner-company and as his request for a copy of the list of registered shareholders of the first petitioner as on 30-4-1995 to 1996, was not complied with, he made a request through registered notice on 30-1-1999, enclosing a demand draft for Rs. 200 to cover the expenses to be incurred for providing xerox copies of the documents required and postal charges, undertaking to pay additional charges, if any required, and that that notice was returned un-served, raising a presumption that the petitioners are deliberately avoiding to furnish the required information, and, hence, the petitioners have committed an offence under Section 163(5).

(3.) The contention of the learned counsel for the petitioners is that since the list of the registered shareholders of the first petitioner-company is not a register open to inspections under Section 163(1), proceedings under Section 163(5) are not sustainable. The contention of the learned counsel for the first respondent is that 'register of members' mentioned in Section 163(1) is but a list of registered shareholders, and so the first respondent is entitled to make a request for a copy thereof by paying the necessary fees as contemplated by Section 163(2) and (3).