S.F. JAQUE Vs. STATE OF ORISSA

JUDGEMENT

(1.) THE Petitioner stands convicted under Section 409, Indian Penal Code and sentenced to undergo R.I. for two years and to pay a fine of Rs. 5, 000/ -. He stood his trial in the Court of the Assistant Sessions Judge, Cuttack. Hill appeal before The Additional Sessions Judge, Cuttack stands dismissed.

(2.) THE Petitioner was the Mg. Director from 25 -1 -1963 till 14 -7 -1964 of the Orissa Trunk and Enamel Works Ltd., Dargah bazar, Cuttack which is a Pilot Project Company of the State Government incorporated under the Companies Act and manufacturers steel trunks, suit cases and enamel works. The authorised capital is Rs. 3,00,000/ - out of which Rs. 1,33,500/ - has been subscribed by the Government of Orissa and Rs. 32,000/ - by the private enterpriser, the father of the Petitioner. A sum of Rs. 1,45,500/ - has been paid up comprising Rs. 1,33,500/ - by the Government and Rs. 12,000/ - by the Petitioner 's father. The Petitioner had first taken over charge as General Manager from his father with effect from 20 -7 -1961 and thereafter was appointed the Mg. Director with effect from 22 -1 -1963.

(3.) AT the quarterly meeting of the Board on 26 -10 -1964 the partner as the Mg. Director furnished to the Board two copies of a list consisting of two parts namely of persons to whom advances had been made as on 27 -9 -1964 and of sundry debtors, showing a sum of Rs. 61,727.18 paise outstanding against these debtors. The Dy. Director of Industries had presided over the meeting. He asked the Petitioner to furnish addresses of these debtors for which another meeting was held on 30 -10 -1964. The Petitioner furnished the same list against without any further particulars. Meanwhile, on inquiry some of the items in the list were found to be fictitious. Since the Petitioner did not file detailed addresses of the sundry debtors and persons to whom moneys had been advanced, he was again caned upon to do so and it was resolved not to release any money in favour of the Petitioner till the outstanding dues were collected and a true picture of the financial position of the company placed before the Board of Directors.