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TMI Blog2020 (10) TMI 202X X X X Extracts X X X X X X X X Extracts X X X X ..... of India, Petitioner seeks a direction to the Respondents to unfreeze his bank account bearing No.02121000006167 in HDFC Bank, Goregaon (E), Mumbai. 3] Case of the Petitioner is that M/s. Birla Electricals Ltd. is a public company dealing in purchase and sale of electrical items. Petitioner was non-executive director of the said company for the period from 25.07.2002 to 27.08.2014. Thereafter he resigned from the said company vide resignation letter dated 27.08.2014. 4] Petitioner is holding savings account with Respondent No.5 i.e. HDFC Bank, Goregaon (E), Mumbai, bearing account No.02121000006167. On 02.02.2020, Petitioner had issued a cheque in favour of one Mr. Santosh Devrao Thorat for an amount of Rs. 14,030/-. However Petit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was not applicable in the case of the Petitioner : firstly, because M/s. Birla Electricals Limited is a public company ; and secondly, because Petitioner was a non-executive director of the said company from which he had resigned way back on 27.08.2014. However, no remedial step was taken on the said request of the Petitioner. 7] Aggrieved, present Writ Petition has been filed seeking the relief as indicated above. 8] In the course of the hearing on 10.09.2020, Ms. Jyoti Chavan, learned AGP had submitted that she would have a word with the concerned departmental authority so that the matter could be sorted out and grievance of the Petitioner redressed. 9] However, today when the matter is called upon, she submits that stand of the depar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 13] A careful perusal of the said Section as extracted above, would go to show that first of all the said section is subject to the provisions of the Companies Act, 2013. Secondly, the provision says that if any tax or other amount recoverable under MVAT Act from a private company, whether existing or wound up or under liquidation, for any period cannot be recovered, then the same can be recovered from every person who was a director of the private company during such period ; such person being jointly and severally liable for the payment of dues of the company. 14] From the above, it is evident that Sub Section (6) of Section 44 of MVAT Act is subject to the provisions of Companies Act, 2013. When a provision is made subject to another pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, limits the number of its members to two hundred; and prohibits any invitation to the public to subscribe for any securities of the company. On the other hand, "public company" has been defined under Sub Section (71) to mean a company which is not a private company and has a minimum paid up share capital as may be prescribed. 15.1] Section 3 deals with formation of company. As per Sub Section (1) a company may be formed for any lawful purpose by seven or more persons, where the company to be formed is to be a public company; two or more persons, where the company to be formed is to be a private company; or one person, where the company to be formed is to be One Person Company that is to say a private company. Incorporation of One Person ..... X X X X Extracts X X X X X X X X Extracts X X X X
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