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2009 (5) TMI 547 - HC - Companies LawQuashing of complaint - complaint under sections 63 and 628 of Companies Act, 1956 alleging mis-statement/wrong statement in prospectus - Held that:- In the present case, the respondents have submitted that it is only when a balance sheet was filed by the petitioner for the year ending 31-3-2001 that they came to know that the statement made in the prospectus was not correct and, accordingly, they gave a show-cause notice which was given on 21-5-2002 and then they have filed a complaint dated 14-1-2004. It is submitted that the delay had been caused because of obtaining sanction, etc., from the department concerned. However, when in the complaint it is not stated as to from which date the limitation starts so as to bring the complaint within limitation nor it is stated as to when they applied for obtaining sanction of the competent authority to file the complaint and when the sanction was granted, it does not lie in the mouth of the respondents to submit that the complaint was within limitation. Petition allowed and the complaint filed by the respondents is dismissed as barred by limitation.
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