9911796707
TMI Blog1987 (4) TMI 369X X X X Extracts X X X X X X X X Extracts X X X X ..... tra for the Petitioner. H.S. Brar for the Respondent. JUDGMENT I.S. Tiwana, J. The petitioner along with three other directors of Messrs K.D. Woollen Mills P. Ltd., as also the company itself is sought to be proceeded against under section 8(2) and 8(4) of the Foreign Exchange Regulation Act, 1973 (for short, "the Act"), as a result of the complaint (annexure P-l) filed by the As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention was committed, was in charge of, and was responsible to, the company for the conduct of business of the company as well as the company, shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly : Provided that n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9 of the same which reads as follow : "9. That accused No. 1 is the company and accused Nos. 2 to 5 were its directors and who were managing the affairs of the company." Having heard learned counsel for the parties at some length, I find that in the light of the above-noted contents of paragraph No. 9 of the complaint, neither the petitioner nor the other directors like him can possibly be he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... expression 'a person in charge and responsible for the conduct of the affairs of the company' mean ? It will be noticed that the word 'company' includes a firm or other association and the same test must apply to a director-in charge and a partner of a firm in charge of a business. It seems to. us that in the context a person 'in charge' must mean that the person should be in overall control of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
