2001 AIR - Kant. H. C. R. 628 ::2001 CLC 409 ::(2001) 44 CorLA 69 ::(2001) 3 AllCriLR 595 ::(2001) 104 ComCas 732 ::(2001) 4 Kant LJ 254

Karnataka High Court

Hon'ble Judge(s): K. R. Prasada Rao , J

( A ) Companies Act (1 of 1956) S. 113 — Economic offence — Failure to return shares with the endorsement of transfer within stipulated time provided u/S. 113 of the Act — Company situated at Delhi and all its officers are also residing at Delhi — Complaint filed at Bangalore — Not maintainable due to lack of jurisdiction. Criminal P.C. (2 of 1974), S. 79. (Paras7)

( B ) Companies Act (1 of 1956) S. 113 — Complaint about failure to return shares sent for transfer — Company Law Board has exclusive jurisdiction to deal with it — Complaint cannot be made to a Regular Magistrate — Power of Magistrate to entertain the complaint taken away by amendment. (Paras7)

( C ) Companies Act (1 of 1956) S. 113 , 446 — Company under liquidation — Complaint under S. 113 initiated without leave of the Company Court — Complaint not maintainable. (Paras7)