T K SINHA Vs. REGISTRAR OF COMPANIES

JUDGEMENT

(1.) HEARD the parties.

(2.) UNION of India and Registrar of Companies are represented.

(3.) PETITIONER is the Director and Managing Director of State Bank of India. He was a Non -Executive Director. He was named as such in the prospectus. It is not in dispute that he resigned from the member of the company on 15.6.1996 and the same was duly intimated to and registered with the Registrar of the Companies. In the above facts, it is submitted on behalf of the petitioner that petitioner being a Non -Executive Director could not be held to be the incharge or responsible for the affairs of the company specially when the promises were not acted upon. The petitioner was not with the company at the relevant time. Petitioner, though was on the Board of Director of the Company at the initial stage resigned soon thereafter. There was no occasion on the part of the petitioner nor the petitioner had the power or authority in respect of company working after 1996.