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TMI Blog2019 (2) TMI 1855X X X X Extracts X X X X X X X X Extracts X X X X ..... scharge its obligations. It is also alleged that the money collected by the petitioner company amounted to the petitioner company floating a collective investment scheme. The impugned order dated 27.03.2012 is set aside - It is directed that the present petitions will be treated as a representation by the Registrar of Companies, who shall afford the petitioner company an opportunity of being heard - Petition allowed by way of remand. - W.P.(C) 7529/2012 & CM APPL. 19148/2012, 14112/2014, W.P.(C) 8065/2012 & CM APPL. Nos.20101/2012, 12699/2013, 48298/2018 - - - Dated:- 7-2-2019 - HON'BLE MR. JUSTICE VIBHU BAKHRU For the Appellant : Mr Darpan Wadhwa, Senior Advocate with Mr Surendra Dube, Mr Saurabh seth, Mr S. Chakraborty, Mr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rders passed under Section 234 (3A) of the Act and the order dated 05.11.2012 directing investigation under Section 235 of the Act have been passed consequent to the order dated 27.03.2012 passed under Section 234 (1) and 234 (7) of the Act. The only contention urged on behalf of the petitioners for assailing the above order is that the petitioner company has not been afforded an opportunity to be heard as required under Section 234 (7) of the Act. 4. Mr. Jasmeet Singh, learned counsel appearing for the respondents contested the aforesaid contentions and drew the attention of this Court to various opportunities that were afforded to the petitioner company to provide information and clarification as sought for. He submitted that in the af ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wer. (3A) If no information or explanation is furnished within the time specified or if the information or explanation furnish is, in the opinion of the Registrar, inadequate, the Registrar may by another written order call on the company to produce before him for his inspection such books and papers as he considers necessary within such time as he may specify in the order; and it shall be the duty of the company, and of all persons who are officers of the company, to produce such books and papers. * * * * * * (7) If it is represented to the Registrar on materials placed before him by any contributory or creditor or any other person interested that the business of a company is being carried on in fraud of its creditors or of person ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... members, the [Tribunal] may, after giving the parties an opportunity of being heard, by order, declare that the affairs of the company ought to be investigated by an inspector or inspectors, and on such a declaration being made, the Central Government shall appoint one or more competent persons as inspectors to investigate the affairs of the company and to report thereon in such manner as the Central Government may direct.] 7. A plain reading of sub section (7) of Section 234 of the Act indicates that the Registrar can make an order calling upon the petitioner company to furnish any information or explanation on the matter specified in the order, provided that he has received a representation that the business of the company is bein ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its obligations. It is also alleged that the money collected by the petitioner company amounted to the petitioner company floating a collective investment scheme. 10. Mr Wadhwa, learned Senior Counsel appearing for the petitioners also conceded that the petitioner company would have no objection if an opportunity of hearing is afforded to the petitioner company in terms of the decision of this Court in Hardicon Ltd. (supra). 11. The aforesaid course commends to this Court. Accordingly, the impugned order dated 27.03.2012 is set aside. It is directed that the present petitions will be treated as a representation by the Registrar of Companies, who shall afford the petitioner company an opportunity of being heard. The petitioner company ..... X X X X Extracts X X X X X X X X Extracts X X X X
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