TMI Blog1999 (1) TMI 496X X X X Extracts X X X X X X X X Extracts X X X X ..... are directors of the New City of Bombay Manufac-turing Co. Ltd., have preferred this petition under section 633(2) of the Companies Act, 1956 ( the Act ). The respondents issued a show-cause notice dated 10-8-1992, to the petitioners calling on the petitioners to show cause as to why they should not be prosecuted for not holding the annual general meeting in respect of the financial year ending 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d for violation of the provisions of the Companies Act have approached this Court by this petition filed under section 633(2). 2. An affidavit has been filed on behalf of the respondents. It is the contention of the respondents that this Court in some other proceedings have held that the powers of the High Court under section 633(2) should be sparingly used and the officers of the company cann ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... default of the provisions of the Companies Act. However, in their reply to the show-cause notice as well as in the petition they have pointed out that they have been unable to hold the annual general meeting or file returns for the reasons beyond their control. In these circumstances it is possible to accept the plea that they have acted honestly and reasonably. In the light of that, the followi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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