NUTECH AGROS LIMITED Vs. MOHAN RAO

JUDGEMENT

(1.) This is a petition filed under Section 482 of the Code of Criminal Procedure praying that an order dated 15-7-1999 passed by the learned Special Judge for economic offences at Hyderabad in Crl.MP No.527 of 1999 in CC No.7 of 1999 be quashed. The petitioners herein are the accused while the first respondent herein is the complainant in the above mentioned CC.

(2.) The first respondent filed a compliant under Sections 205 and 207 of the Companies Act (hereinafter referred to as 'The Act') against the petitioners herein. According to the complaint, the first respondent is a share holder in the first petitioner-company holding 46,600 shares. Petitioners 2 to 4 are the directors of the first petitioner-company. The first petitioner declared a dividend of 10% for the accounting year 1994-95 in the annual General Body Meeting held on 30-12-1995. By virtue of the said decision, the first respondent is entitled to a sum of Rs.46,600/- as dividend on the shares held by him in the first petitioner-company. The complaint of the first respondent is that inspite of the declaration of the dividend for the year 1994-95, no dividend in fact had been paid to the first respondent. Similarly, the first respondent complains that with reference to the accounting year 1995-96 the first petitioner-company in its Annual General Body Meeting again declared a dividend of 10% and inspite of the declaration, the amount is not paid to the first respondent.

(3.) During the course of the trial, the complainant-the first respondent filed a miscellaneous petition in Crl.MP No.527 of 1999 with a prayer to summon certain documents from the Central Bank of India, Adoni Branch and another miscellaneous petition in Crl.MP No.474 of 1999 to summon the Manager of Central Bank of India, Adoni Branch to give evidence in order to establish the case of the complainant. The said two petitions were allowed. Aggrieved by the said order, the present petition is filed.