9911796707
TMI Blog1964 (8) TMI 35X X X X Extracts X X X X X X X X Extracts X X X X ..... on each of the counts. The facts of the case relevant for the disposal of this petition may be stated as follows. The petitioner was appointed as managing director by a special resolution of the company on roth June, 1956. He made an application to the Government of India for approval of his appointment as managing director under section 269 of the Companies Act in Form No. 25. The Government of India called on the petitioner to produce the audited accounts of the company. But the peti tioner declined to produce them as, according to him, the documents called for need not be produced under section 269. There was protracted correspondence between the petitioner and the Government of India between 1957 and 1961 and no decision of the Governme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he first time after the commencement of this Act in the case of an existing company, and after the expiry of three months from the date of its incorporation in the case of any other company, shall not have any effect unless approved by the Central Government; and shall become void if, and in so far as, it is disapproved by that Government. " The appointment of the petitioner as managing director was on 10th June, 1956, after the commencement of the Act. It was contended by Mr. Ramalingam, learned counsel for the petitioner, that section 269 was intended to cover only appointment of managing director for the first time after the commencement of the Act and not appointment of a particular person as a managing director after the commencement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... learned Public Prosecutor referred to Form No. 25, rule 3(i), where particulars about existing managing director, managing agent, secretaries and treasurers were given. The form is one prescribed for an application under section 269 and the reference to the existing managing director supports the contention of the learned Public Prosecutor that section 269 was intended to attract cases of appointment of a person after the commencement of the Act. But this intention has not been made clear in section 269, before the amendment of 1960. In the absence of such clear intention, it cannot be held that section 269 is applicable to persons appointed as managing directors after the commencement of the Act as distinguished from the appointment of m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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