HAS1MARA INDUSTRIES LTD Vs. COMPANY LAW BOARD

JUDGEMENT

(1.) IN an application under Article 226 of the constitution, which was heard by Mr. Justice P. K. Banerjee, the petitioner hasimara Industries Ltd. (the appellant before us) challenged the validity of a search warrant which the chief Presidency Magistrate of Calcutta had issued on June 14, 1971, banerjee, J. by a judgment delivered on December 13, 1973 has dismissed the application. The present appeal is directed against that judgment.

(2.) BETWEEN July and September. 1970 the Officers of the Directorate of inspection, Company Law Board, posted in Calcutta, inspected under section 209 (4) of the Companies Act, the books of account, documents and papers of britannia Engineering Co. Ltd. and some other Companies forming the mcleod Group of Companies, now known as the Bajoria Group of Companies. In course of this inspection, according to the respondents, it appeared from the books of account that the directors and person's carrying on or conducting the business of the Bajoria group of Companies, acting in conspiracy with each other, had committed various illegalities which amounted to cognizable offences punishable under sections 406/409/420/468/477a and section 120b of the Indian Penal Code.

(3.) ON April 2, 1971, the Under Secretary to the Government of India department of Company Affairs, acting under the direction of the Secretary, sent a complaint to the Director, central Bureau of Investigation and inspector-General of Police, Delhi Special Police Establishment, New Delhi regarding the commission of the afore said offences of criminal breach of trust criminal misappropriation, cheating, forgery, falsification of accounts and criminal conspiracy in respect of a sum of more than two crores and two lacs of rupees. It was stated that Chiranjilal Bajoria and his son Anandilal bajoria were principally involved in the commission of these offences.