Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2021 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (12) TMI 249 - HC - Companies LawValidity of FIR - disputes arising in relation to administration of a company - argument of the learned counsel for the petitioners is that the complainant has initiated the proceedings under the Companies Act before the NCLT and the criminal prosecution launched by filing the impugned First Information Report is thus mala fide and accordingly the F.I.R. and any proceedings drawn pursuant thereto are liable to be quashed - HELD THAT:- Once the Companies Act, 2013 has come into force, mismanagement of the affairs of a company or even allegations of fraud is to be investigated in terms of the procedure contemplated in the Companies Act, 2013. SFIO is the authority to conduct the investigation and special court established under Section 435 of the Act , 2013 is the competent court to try the offences which is empowered even to try the offences other than the offences under the Companies Act as per the provision contained in Section 436 (2). It is not only the FIR which is under challenge in this petition which has been lodged but in addition to it, three more FIRs have been lodged by the complainant against the petitioners in succession apparently on account of the fact that the prayer for grant of interim relief relating to convening the extraordinary general meeting of the company was not acceded to by NCLT. The first such prayer was rejected by NCLT on 26.07.2021 and thereafter again on 10.08.2021. It is in this background that it has been submitted on behalf of the petitioners that the impugned FIR has precipitated on account of malafide reasons. Though the investigation of the impugned FIR shall go on, however, till the next date of listing, the petitioners shall not be arrested in connection thereto - Application disposed off.
|