ORISSA JUTE AND COTTON MILLS Vs. STATE

JUDGEMENT

(1.) THIS is an application under Section 281, Indian Companies Act of 1913 corresponding to Section 633 of the new Companies Act, that is, Act I of 1956, which has come into force on 1 -4 -56.

(2.) THE petitioners are : the Orissa Jute and Cotton Mills Ltd., a company incorporated in the state of Orissa with its registered office at Cantonment Road, Cuttack and Messrs. Madanlal Jajodia, Sohanlal Jajodia, Bhagabati Prasad Khaitan and Radhakrishna Bala as its directors. The Orissa Jute and Cotton Mills limited Company was incorporated under the Indian Companies Act on 27 -11 -46 and a certificate for commencement of business was issued in its favour on 19 -8 -49. The registered office of the company which was originally situated at Bakharabad was shifted to 14, Cantonment Road, Cuttack, and it was duly intimated to the Registrar, Joint Stock Companies on 4 -10 -49.

(3.) BUT it is also alleged in the petition that the Assistant Registrar of the Joint Stock Companies filed a complaint under Ss. 76(2), 32(5), 133(3), 134(4) and 72(4), Indian Companies Act, against the petitioners in the Court of the Sub -Divisional Magistrate, Cuttack, and the petitioners are now being tried in the Court of Sri. N.N. Mitra, Magistrate, 1st Class, Cuttack in Criminal case No. 213C -2 of 1954. The petitioners obtained an interim stay of the proceedings of this criminal case after filing this application.