TMI Blog2012 (6) TMI 224X X X X Extracts X X X X X X X X Extracts X X X X ..... , the first respondent has addressed a letter to the Manager, - These aspects would indicate that there was reasonable cause for the respondents in not complying with the requirement. nature of a criminal proceedings the benefit of reasonable cause is to be granted to the respondents since the facts in the instant case as noticed above would disclose that the respondents were prevented by reasonable cause from filing statement of affairs within the time provided in law and also the non-rectification was due to the very same cause which has still continued to exist. respondents are to be exonerated. application is accordingly disposed of. - CO. APPLICATION NO. 618 OF 2006, CO. PETITION NO. 274 OF 2002 - - - Dated:- 2-3-2012 - A.S. BOPANNA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id respondents. Respondent Nos. 2 and 5 have further contended that they were not in-charge of the day-to-day affairs of the company and therefore, the filing of the statement of affairs was not possible in addition to the fact that there was reasonable cause for the first respondent himself to have not filed the same. 3. In the light of the defence put forth by the respondents and having pleaded not guilty, the matter was set down for evidence. One Sri M. Venkatarama Reddy, who is working as Assistant in the Office of the Official Liquidator was examined as P.W. 1 and has been cross-examined by the respondents. Respondent No. 1 herein was examined as RW1 and has been cross-examined. Similarly, respondents Nos. 2, 4 and 5 have been exam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made out any reasonable cause for not filing the statement of affairs within time or to indicate that they were not expected to file. 7. In that regard, a perusal of the evidence tendered by P.W.1 would indicate that the dates as noticed above have been referred to by the witness and the relevant order for winding up has been marked as Ex.P1 and the intimation issued to the respondents is also produced and marked as Ex.P2. The acknowledgement and the un-served covers have been marked at Exhs.P5 to P7. In order to indicate that the statement of affairs was filed only on 15.11.2007, the letter addressed by the first respondent is marked as Ex.P8 along with the copy of the statement of affairs which has been filed. On perusal of the statem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctors had received the letter of resignation from respondent No. 4 and he has been relieved of all duties, responsibilities and liabilities on behalf of the company. In a normal procedure for legal compliance, it was incumbent on the company itself to send a copy of the same to the Registrar of Companies for the purpose of entering the same in the records. No doubt, it is also a duty cast on the fourth respondent. However, keeping in view the fact that there is no dispute from the other respondents that the fourth respondent had resigned from the company as far back as in the year 2001 and the company was ordered to be wound up nearly four years after i.e. , on 07.11.2005, the case put forth by the fourth respondent requires to be accepted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as Ex.D5 and the acknowledgement received from the Manager, Vijaya Bank and other addressees have been marked as Exhs.D6 to D9. In that regard, the first respondent has also addressed a letter to the Official Liquidator, which is marked as Ex.D10. In that context, the witness has stated that there was sufficient cause for him to have not filed the statement of affairs immediately thereafter and subsequently based on the available material, be has filed the statement of affairs on 15.11.2007. The defects indicated therein also could not be rectified in view of the fact that the books are not available as the Bank has seized the same. In the cross-examination though the said witness has admitted with regard to the procedure followed by the Of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wound up on 07.11.2005 at the first instance, in any event, the Directors had time till 28.11.2005 for the purpose of filing their statement of affairs. The question would therefore be as to whether there was any intervening circumstance between the said dates which has made it impossible for the respondents to file the statement of affairs? 14. In that regard, the complaint filed on 16.11.2005 (Ex.D1) would be relevant for the purpose. As per the said complaint, the Vijaya Bank had seized the premises and also taken possession of the materials available in the premises. The complaint has been registered in the Koramangala Police Station. The fact that Vijaya Bank had taken possession of the premises and the notice inviting tenders date ..... X X X X Extracts X X X X X X X X Extracts X X X X
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