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ANANDA KUMAR MUKHERJEE
Kanwal Prakash Singh – Appellant
Versus
State Of West Bengal – Respondent
JUDGMENT
Ananda Kumar Mukherjee, J. - Both the revisional applications under sections 397, 401 of the Code of Criminal Procedure 1973, read with section 26C of Securities and Exchange Board of India Act, 1992 stem out from the impugned order dated 20.08.2018 passed by Learned Judge, 5th Special Court, Calcutta in Special Case No. 18 of 2016 (SEBI/16/17), whereby the applications filed by the petitioners for their discharge under section 245 of Cr. P.C were rejected, imposing a cost of Rs.2,000/-. By these applications legality and propriety of the order has been challenged praying for setting aside the order and quashing of the proceeding against the petitioners.
2. The fact of the case, in gist is that, the petitioners are three of the directors of the accused company, M/s Just Reliable Projects India Limited, which was incorporated on 16th December, 2009 under the Companies Act, 1956, having its registered office at C-19, Uday Shankar Bithi, City Centre, Durgapur-713216.
3. A duty having been cast upon SEBI under section 11(1) of the SEBI Act to protect the interests of investors in Securities and to promote the development of and regulate the securities market through appropriate m
The defense of the accused regarding their knowledge of the company's activity cannot be adjudicated at the time of framing of charge and should be considered during trial. The onus of proof on the a....
The specific averments in a complaint against a director, as a person in charge of the company's affairs, may be sufficient to make out a case against the director, and the question of liability shou....
The main legal point established in the judgment is the requirement for specific averments against accused directors and their active involvement in the alleged offenses, emphasizing the principle of....
The main legal point established in the judgment is the interpretation and application of the pre-amended and amended provisions of Section 24 of the SEBI Act in determining the guilt and imposition ....
Directors and/or Promoters of Company have committed breach of provisions contained in Sections 63, 68 & 628 of Act, he should not have waited for long ten years. Such commission or omission on their....
Charges in criminal proceedings must be clear and based on the complaint's contents to ensure the accused's right to a fair trial.
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