BEJOY KUMAR KARNANI Vs. ASSISTANT REGISTRAR OF COMPANIES

JUDGEMENT

(1.) On a complaint filed before the learned Chief Judicial Magistrate, 24-Parganas, by opposite party No. 1, in this rule, the Assistant Registrar of Companies, the two petitioners before us, the directors of M/s. Sukhlal Chandanmul P. Ltd. (hereinafter referred to as "the company") with its registered office at No. 23/21, Gariahat Road, Calcutta-29, have been summoned to face trial under Section 210(5) of the Companies Act, 1956 (hereinafter referred to as " the Act").

(2.) The allegations made in the above complaint is that though the petitioners were under a statutory obligation under the Act to lay before the company at its annual general meeting which should have been held in pursuance of Section 166 of the Act by September 30, 1977, at the latest, its balance-sheet and profit and loss account for the financial year ending on March 31, 1977, they failed and neglected to do so in compliance with the provisions of Section 210(1), (3), of the Act in spite of references made to them by the complainant and thereby committed an offence punishable under Section 210(5) of the Act.

(3.) Being aggrieved by the launching of the above prosecution, the petitioners moved this court in revision with a prayer for quashing the proceedings against them and obtained this rule.