Judgement

SHAH, J. :- Mahendra Lal and Probhat Kumar Sarkar were the promoters and Alamohan Das was the first Chairman of the Board of Directors of the Great Indian Steam Navigation Company Ltd., Messrs. Das Brothers of which Alamohan Das was the sole proprietor became the managing agents of the Company in 1945. Only July 2, 1951, Das Group Ltd. of which also Alamohan Das was the principal Director took over the managing agency.

2. The Registrar of Companies West Bengal filed a complaint in the Court of the Chief Presidency Magistrate alleging that sometime between March 1, 1945 and December 31, 1947 a sum of Rupees 7,23,031-9-6 was advanced by the Company to the Managing Agents, Messrs. Das Brothers; that on July 2, 1951 Messrs. Das Brothers resigned from the managing agency and Messrs. Das Group Ltd., took over the managing agency; that Alamohan Das was at all material times a director of the company and also a director of Messrs. Das Group Ltd., and the sole proprietor of Messrs. Das Brothers; and that the complainant had reason to believe that Alamohan Das with other directors of the company had committed offences under Sections 86-D and 87-D of the Indian Companies Act, 1913. Th