Home Case Index All Cases Companies Law Companies Law + SC Companies Law - 1991 (2) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1991 (2) TMI 330 - SUPREME COURTWhether the offence under section 630 (1) (b) of the Companies Act is a continuing offence for the purpose of limitation? Held that:- Appeal allowed. The impugned orders are set aside and the cases are remanded to the trial court for disposal in accordance with law. The offence continues until the property wrongfully obtained or wrongfully withheld or knowingly misapplied is delivered up or refunded to the company. For failure to do so, sub-section (2) prescribes the punishment. This, in our view, is sufficient ground for holding that the offence under section 630 of the Companies Act is not a one-time but a continuing offence and the period of limitation must be computed accordingly, and when so done, the instant complaints could not be said to have been barred by limitation. The submission that when the first respondent, upon his retirement, failed to vacate and deliver possession of the company's quarter to the company, the offence must be presumed to have been complete, has, therefore, to be rejected.
|