9911796707
TMI Blog2010 (3) TMI 671X X X X Extracts X X X X X X X X Extracts X X X X ..... by counsel for respondents in regard to maintainability of the complaint is overruled and stands rejected. Respondents are directed to appear in person before this Court on 8-4-2010. - COMPANY APPLICATION NO. 39 OF 2004 - - - Dated:- 11-3-2010 - AJAY RASTOGI, J. B.K. Sharma for the Complainant. R.K. Agrawal, Sanjay Pareek, Ashish Tiwari and C.P. Tiwari for the Respondent. ORDER 1. M/s. Rajasthan Jeevan Nidhi Sanchaya Aarthik Prabandh Ltd. ("Company") was ordered to be wound up vide order dated 8-7-1994 in Company Petition No. 1/1994; and Official Liquidator attached to the Court was appointed as its provisional liquidator from the date of winding up order -by virtue whereof, statement of affairs was to be filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance upon decision of Delhi High Court in Globe Associates (P.) Ltd. (In Liquidation), In re [1987] 61 Comp. Cas. 814 . 3. This Court has considered rival contentions of the parties and with their assistance examined material on record. Respondents being ex-directors of the Company are required to file under section 454(1) and (2) of Companies Act their statement of affairs of the Company, within 21 days of the winding up order or within such extended time not exceeding three months from the date as the Official Liquidator or the Court for special reasons may appoint as provided under section 454(3). 4. Section 454(5) and (5A) of Companies Act being relevant are quoted ad infra : "454. Statement of affairs to be made to Offic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsidered by Delhi High Court in Globe Associates (P.) Ltd. (In Liquidation) In re s case ( supra ) ad infra : "The question that arises is if the offence is complete on the 21st day of the winding up order in case there is default in filing the statement of affairs, or, for that matter, if the offence is complete after 3 months if time is extended. Mr. Bawa s contention is that the offence is complete and the provisions of section 468 of the Code would bar filing of the complaint. I am unable to agree with his submission. A reading of the provisions of section 454 of the Act would make it abundantly clear that non-filing of the statement of affairs in time is a continuing offence and it terminates only on the filing of the statement o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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