1938 (3) TMI 15

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..... ction of the Company was in my opinion correct. Section 76 (1) of the Companies Act requires a general meeting to be held once at least in every year. The argument on behalf of the petitioners is that since the general meeting called on 30th December 1934 was adjourned to 31st March 1935 and was held on that date, it follows that a general meeting was held in 1934 and in 1935 and the general meeti .....

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..... ion of the company is therefore correct and the fine as reduced by the learned Sessions Judge is not excessive. The officers however cannot be said to have been "knowingly parties to the default" in the face of the evidence that they took legal advice and acted accordingly. I set aside the convictions of the accused Nos. 5, 6, 7 and 8 and direct that the fines imposed on them be refunded if coll .....

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