PAWAN BISCUIT COMPANY PVT. Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) This application is directed against the order dated 22.11.1988 passed by learned Special Judge, Economic Offences, Jamshedpur, in connection with C/1 Case no. 104 of 1988 whereby and where under cognizance of the offences under Section 220(3)/162(1) of the Companies Act, 1956 has been taken against the petitioners. Further the order dated 23.05.2001 whereby the petitioners were directed to appear in the case, has also been sought to be quashed. On perusal of the record, it does appear that on account of non-filing of the balance sheet of profit and loss of the Company within the time stipulated under the provision of the Companies Act, a complaint was lodged upon which, the cognizance of the offences punishable under Section 220(3) read with Section 162(1) of the Companies Act was taken against these petitioners.

(2.) After the cognizance of the offences, as aforesaid, was taken, the Companies Law Board, Eastern Region Branch, Calcutta compounded the offences whereby the Company was directed to pay a sum of Rs. 2,000/- whereas each of the Directors was directed to pay a sum of Rs. 750/- , which amount was deposited.

(3.) Thereupon, an application was filed on 11.05.2001 by the Special. P.P. under the Companies Act, stating therein that the offences have been compounded and the complainant does not want to proceed with the case but on that application, no order was passed.