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2000 (5) TMI 958 - SC - Companies LawOffence allegedly committed by the respondents under section 113 of the Companies Act, 1956 - Held that:- Apart from overlooking the provisions of section 621, the High Court erred in construing the provisions of section 113(2) with reference to section 113(3). The objects of the two sub-sections are desperate. Section 113(3) is primarily compensatory in nature whereas section 113(2) is punitive. An application under section 113(3) can only be made by the transferee. And as already seen, a transferee who is not an existing shareholder of the company cannot file a complaint under section 113(2) at all. Thus the appellant as a person aggrieved would be entitled to the benefit of the provisions of section 469(1)(b). It is not in dispute that the appellant came to know of the offences on 20-7-1992. The commencement of the period of limitation of six months for initiating the prosecution would have to be calculated from that date. The complaint was filed on 20-8-1992 well within the period specified under section 468(2).
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