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2011 (5) TMI 847 - HIGH COURT OF DELHIPetitioners seek setting aside of the order dated 12-11-2009 passed by the learned Addl. Sessions Judge framing notice under section 251 Cr. P.C. against them for offences punishable under section 24(1), read with section 27 of the Securities and Exchange Board of India Act, 1992 ('SEBI Act'). Held that:- A perusal of the Memorandum of Association of the accused Company shows that the Petitioners herein are only the shareholders in the Company and were neither the promoters nor Directors nor in-charge and responsible for the Company's day to day working. There is no specific role attributed to the Petitioners in the complaint dated 15-12-2003 filed against the Petitioners and the accused Company. In view of the facts and circumstances of the case, the order of learned Additional Sessions Judge dated 12-11-2009 framing notice against the Petitioners is set aside.
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