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1994 (3) TMI 284 - HIGH COURT OF PUNJAB AND HARYANAAllotment of shares and debentures to be dealt in on stock exchange - Respondent applied for 10 debentures of a company but debentures were not allotted to him - On non-allotment of debentures company was required to refund amount within 8 days of expiry of a period of 10 weeks from date of closure of issue - Amount was illegally retained by company for a period of five and half months after lapse of statutory period of 10 weeks plus 8 days and no interest was paid for this period in spite of various letters written to company - A complaint was filed by respondent against petitioner under section 73 - Whether in view of provisions of section 621 Court could take cognizance of any offence under section 73 only if complaint was filed in writing by Registrar or by a shareholder of company or by a person authorised by Central Government in that behalf and since respondent was neither a shareholder nor he was authorised by Central Government to file complaint, it was liable to be quashed - Held, yes - Whether a person who is simply a director can be prosecuted under section 73 - Held, no
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