Judgment

P.P. Naolekar, J.—Leave granted.

2. This appeal is directed against the judgment and order dated 8.4.2004 passed by the High Court of Bombay in Crl. Appeal No. 48 of 2000 acquitting the respondents Mrs. Manjula S. Agarwalla, Respondent No.1 and Ms. Anisha S. Agarwalla, Respondent No.2 of the offence punishable under Section 630 of the Companies Act, 1956. The complainants, viz., Herdillia Chemicals Ltd., non-chemical business was de-merged and vested in Shubh Shanti Company Ltd., by a Scheme of arrangement, approved by the Bombay High Court. Hence, M/s. Shubh Shanti Services Limited came to be substituted in place of M/s. Herdillia Chemicals Ltd. as appellants during the pendency of the appeal before High Court.

3. Brief facts of the case are that the complaint was filed by the Company on 13.1.95 on the allegation that one Shri Suresh Chander Agarwalla, husband of Respondent No.1 and father of respondent No.2 was employed with the appellant Co. since 1971 till his death on 2nd of November 1992. He was appointed Managing Director of the appellant Co. for a period of five years with effect from 15th of June 1988. Flat No.25 in a building called “Sonmarg” at 7B, Jagmohandas Marg