Judgment

ORDER:- After hearing Shri S. K Kapoor, learned counsel appearing for respondent No. 1 in Criminal Appeals Nos. 251-252 of 1986 at quite some length, we are not persuaded to take a view different from the one expressed by this Court in the recent judgment in Baldev Krishna Sahi v. Shipping Corpn. of India, Ltd., (1987) 4 SCC 361 : (AIR 1987 SC 2245) overruling the judgment of the Calcutta High Court in Amrit Lal Chum v. Devi Ranjan Jha, (1987) 61 Com Cas 211 as to the scope and effect of subs. (1) of S. 630 of the Companies Act, 1956. The Court in Baldev Krishna Sahis case has placed a beneficent construction on the provisions contained in sub-s. (1) of S. 630 of the Act and according to it the term officer or employee in sub-s. (1) of S. 630 must be interpreted to mean not only the present officers and employees of a company but also to include the past officers and employees of the Company. It has also taken the view that the words any such property in cl. (b) thereof qualify the words any property of Company appearing in cl. (a). As observed in Baldev Krishna Sahis case, S. 630 of the Act plainly makes it an offence if an officer or employee of a company who was permitte