1936 (12) TMI 24 - HC - Companies Law

Summary

The High Court of Madras set aside convictions under sections 131 and 134 of the Indian Companies Act for offenses related to balance sheets. Convictions under section 134 were deemed wrong as balance sheets were not placed before the company at a general meeting. The court acquitted petitioners in cases 345 to 349 and refunded any fines paid. For cases under section 131, petitioners 2 and 3 were not held liable for offenses predating their involvement with the company. Convictions and fines for petitioners 2 and 3 were set aside. The conviction of the 1st petitioner in cases 351 to 355 was upheld, and the revision petitions were dismissed.