Home Case Index All Cases Companies Law Companies Law + SC Companies Law - 1987 (9) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1987 (9) TMI 316 - SC - Companies LawWhether the provisions contained in subsection (1) of section 630 which provide for the launching of a prosecution against an officer or employee of a company for wrongful possession of such property under clauses (a) and (b) of sub-section (1) of section 630 and for the recovery of such property by the issue of process under subsection (2), also extend to past officers and employees of the company? Whether the court trying the offence has the power to issue process under sub-section (2) against such officer or employee? Held that:- Appeal dismissed. Considering the facts of present case it cannot be disputed that the flat in question is owned by the company and it also cannot be disputed that the petitioner came to occupy the said flat by virtue of his being in the employment of respondent No. 1 company. It follows that on his retiring from the company, the provisions of section 630 of the Companies Act will become applicable. This case, therefore, is neither one which deserves to be quashed nor one which is liable to be stayed pending the declaratory suit in the Court of Small Causes. In any event, I do not find this case which calls for interference in exercise of the jurisdiction either under article 227 of the Constitution of India or section 482 of the Criminal Procedure Code. Thus no merit in the petition and the same is dismissed. Rule discharged. Smt. Shenoi applies for continuation of stay for a period of three weeks in order to enable the petitioner to approach the Supreme Court. Shri Vashi objects to the grant of time. I find the request of Smt. Shenoi to be reasonable. Stay to continue for a period of three weeks from today.
|