Allegation of committing fraud and caused loss to the company by ...

Companies Law

July 12, 2023

Allegation of committing fraud and caused loss to the company by incorporating and joining a company which had a similar name and operating pattern - Vague allegations that confidential information and technical know-how were misused are insufficient. Even assuming that this offence is made out the complainant ought to have resorted to the remedy under the Act. This Court also finds that the complaint stems out from the grievance of the complainant that the petitioner had started a rival company and had diverted the business of the complainant. Such issues cannot be the subject matter of criminal prosecution in the absence of the necessary ingredients to constitute the offence alleged. The petitioner has other remedies available in law. Since the allegations do not attract the offences, this Court is inclined to quash the complaint. - HC

View Source

← Previous Next →

Allegation of committing fraud and caused loss to the company by ...

Companies Law

July 12, 2023

You may also like:

Refusal of registration of shares of the Respondents - ambit of Section 111A of Companies Act - sufficient cause for refusal to register shares or not - The Respondents...

Maintainability of suit - exclusive jurisdiction of the National Company Law Tribunal - The specific case of the plaintiff is fraud and the said fraud is to be...

Principles of natural justice - request for cross examination of panch-witnesses and of departmental officers has been rejected - the allegations of Show Cause Notice...

Rejection of Section 9 application - CIRP - cyber fraud committed against the Respondent - pre-existing disputes or not - While a cyber fraud occurred, the Tribunal...

Companies (Incorporation) fourth Amendment Rules, 2016 to prescribe (i) Simplified Proforma for Incorporating Company Electronically (SPICE) and (ii) Conversion of a...

New Companies going to be incorporated now can seek PAN and TAN numbers while getting incorporated u/s 7 of Companies Act, 2013 - Rule 114 and 114A of Income Tax Rules amended

Revocation of Customs Broker License - irrespective of the appellants not informing the Customs about the non production of export goods, the above independent system of...

CENVAT Credit - duty paying documents - The party against whom the allegation of fraud is made has to be put on notice and heard. Evidence must be led wherefrom a...

Statutory Auditors’ Responsibilities in relation to Fraud in a Company - NAFRA issued certain guidelines.

Advances to subsidiary company – Allowability as bad debt – the loss of advance by the assessee company to its 100% subsidiary company is to be allowed as a business loss - AT

Seeking pre-arrest bail u/s 438 Cr.P.C. - monetary dispute between the parties - the petitioner had committed fraud by projecting himself to be the proprietor of the...

Dishonour of Cheque - vicarious liability of director - Vicarious liability can be inferred against a company registered or incorporated under the Companies Act, 1956...

Deduction of provisions made - Ascertained expenditure - the assessee is entitled to deduction being the provision created on account of fraud committed by one of its...

Oppression and Mismanagement - once the Company against which the aforesaid application has been filed by the appellant on the allegation that there is mismanagement in...

Nature of loss - capital loss or business loss - company in liquidation - assesssee claimed the same as business loss - Tribunal allowed the same as capital loss -...

Quick Updates: