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TMI Blog1934 (1) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... of a general meeting of the company. The grounds for the application are a petition verified by the affidavit of Gobindalal Datta, who is described as a member of the board of directors of the company. In his petition, he states that the last balance-sheet of the company up to 31st March, 1932, was adopted at its general meeting held on 30th September in the same year. That, it appears, is the dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d not be audited and the balance-sheet for the year ending 31st March, 1933, could not be prepared and that "in consequence thereof no annual general meeting for the adoption of any balance-sheet for the said year could be held as yet." It is then stated that the criminal proceedings terminated on 11th December, 1933, with the conviction of the former secretary who however, has filed an appeal a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ars on behalf of the applicant is the object of this application, intended to enable the Court to make an order which will excuse the persons responsible from the consequences of their omission. What the petition says with regard to the balance-sheet, upon which learned counsel has laid considerable stress, has nothing to do with the matter. Possibly, the general meeting which should have been cal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e a case for which the section is obviously intended to provide, namely, where the directors, for reasons of their own, or it may be negligently or in furtherance of fraudulent dealing, fail to call a general meeting, and a shareholder considers it his business to take action under the section. In such case, could it be said that the persons responsible were to escape the consequences of their omi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a place in a petition and exculpation would not be justified. If proceedings are instituted and if there are sufficient grounds for not having complied with the mandatory provisions of the section I apprehend that they will furnish a defence and the person or persons charged will be acquitted, but this, in my judgment, is not the time or place at which either directly or indirectly to adjudicate o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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