9911796707
TMI Blog2012 (8) TMI 1237X X X X Extracts X X X X X X X X Extracts X X X X ..... is a petition filed under Section 482 Cr.P.C. for quashing of complaint bearing C.C. No.12/2009 under Sections 24(1) and 27 of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as 'Act'). 2. Briefly stated, the facts of the case are that the allegations made by the respondents in the complaint are that the petitioner was a Director of a company which had committed an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned to the Record Room and the same was revived only in the year 2009. Therefore, it has been submitted that there has been no inordinate delay in filing the petition. 5. There is no dispute about the fact that the company was incorporated on 7.10.1997. However, the said business had failed to pickup, as a consequence of which the petitioner had resigned from the Directorship. The complaint was f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the ground that the petition has been filed after an inordinate delay, for which no cogent explanation has been given. 7. I have carefully considered the submissions made by the respective sides and gone through the records. 8. Although no period of limitation has been prescribed for invoking Section 482 Cr.P.C., but the provision cannot be treated as an open ended provision which can be invo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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