9911796707
TMI Blog2001 (1) TMI 860X X X X Extracts X X X X X X X X Extracts X X X X ..... this petition under section 482 of the Criminal Procedure Code, 1973, seeking for quashing the above proceedings registered against him by the impugned order passed by the Special Court for Economic Offences, Bangalore City. 2. The first respondent herein filed a complaint in the trial court alleging that the petitioner herein who is the chairman and director of the CRB Capital Markets Ltd., s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jurisdiction to entertain this complaint since the head office of the above-said company is situated at Delhi from where the shares are to be sent back making endorsement of transfer on them. ( ii )According to the procedure laid down under section 113(3), the shareholder has to first make a complaint of non-compliance with the provisions of section 113(1), before the CLB and it is the CLB which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d appointing the official liquidator as provisional liquidator, copy of which is produced as Annexure C. So, without leave of the company court, no legal proceedings shall commence or if pending shall be proceeded with against the company by virtue of the provisions under section 446(1) of the Act. 7. It is clear from the provisions of section 623 of the Act that if any offence against this Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ), make it clear that the complaint is to be made by the shareholder only to the CLB and the CLB is empowered to take necessary action in this regard to make good the default, if any committed by the company or by any of its officers and even the director of the company and to pay the costs to the applicant-shareholder. Further, by virtue of the amendment of section 113, by the Companies (Amendmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plainant has not taken leave of the company court to file the above complaint, I find that on this ground also the above-said complaint is not maintainable. 8. For the above reasons, I find that the proceedings in the above case are liable to be quashed. 9. In the result, this petition is allowed and the proceedings in C.C. No. 337 of 1997, pending against the petitioner are hereby quashed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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