JUDGMENT :

Shampa Dutt (Paul), J.

1. The present revision has been preferred praying for quashing of Complaint Case No. CS/36744/19 under Section 200 of the Code of Criminal Procedure with charge under Section 276C (2) read with Section 278B of the Income Tax Act, 1961 and all orders passed therein including order dated 02.08.2019 passed by the learned Chief Metropolitan Magistrate at Calcutta thereby taking cognizance and orders dated 28.08.2019, 19.11.2019, 13.12.2019 and 24.12.2019 passed by the learned Chief Metropolitan Magistrate, 16th Court at Calcutta, thereby issuing process against the petitioners.

2. The petitioners’ case is that Vikash Metal and Power Limited (under liquidation) hereinafter referred to as the said company under liquidation was incorporated on 4th July, 1996 as a Public Limited Company under the provisions of the Companies Act, 1956 and engaged in the business of manufacturing of steel and power.

3. As per the master data of the Company as made available in the official website of the Ministry of Corporate Affairs, the registered office of the company under liquidation is at 35, Central Avenue, Kolkata – 700 012 under the Police Station, Bowbazar.

4. The petitioners along with Sri Kailash Chand Jain and Sri Vijay Kumar Jain were the directors of the said company (under liquidation).

5. The petitioner no. 1 herein is the accused person no. 3 in the Criminal Complaint case being no. CS/36744/2019, the petitioner no. 2 herein is the accused person no. 2, the petitioner no. 3 herein is the accused person no. 4 and the petitioner no. 4 herein is the accused person no. 5 in the said Criminal Complaint.

6. The respondent herein represented by an Income Tax Officer is the complainant in the Criminal Complaint case being no. CS/36744/2019.

7. That due to economic slowdown and other reasons the business of the said company (under liquidation) failed and consequent to which the company failed to honour the payments of its creditors.

8. On such failure of the said company (under liquidation), one M/s. Indian Carbon Limited initiated winding up proceedings in or about November, 2014 under Section 434 and 439 of the Companies Act, 1956 before this Hon’ble High Court. The said company petition being C.P. No. 985 of 2014 was taken up for hearing from time to time and necessary directions were passed accordingly.

9. By an order dated September 8, 2015 in C.P. No. 985 of 2014 this Hon’ble High Court passed an order of winding up in accordance with the provisions of the Companies Act, 1956 and directed the Official Liquidator to take possession of all books, records, documents and assets of the said company and to take immediate control of its transactions.

10. The respondent being the complainant lodged a complaint under Section 200 (a) of the Code of Criminal Procedure with charge under Section 276C (2) read with Section 278B of the Income Tax Act, 1961 against Vikash Metal and Power Limited (under liquidation), and the petitioners herein along with one Sri Kailash Chand Jain and Sri Vijay Kumar Jain, the other ex-directors of the said company.

11. The said complaint was filed in the month of August, 2019 before the Learned Chief Metropolitan Magistrate Court at Calcutta.

12. The said Sri Kailash Chand Jain filed a discharge petition before the Metropolitan Magistrate, 16th Court at Calcutta on 24th December, 2019 which is pending as of now.

13. From the materials on record the following facts are before this Court:-

(i) It is stated that Vikash Metal and Power Limited (under liquidation), the Assessee has filed its income tax return for the Assessment Year 2010-11 on September 23, 2010;

(ii) For the said Assessment Year, the assessment was completed in the regular course of action;

(iii) However, the office of the Income Tax pursuant to the provisions of Section 144/147 of the Income Tax Act, 1961 (“Act”) re-opened the said assessment for the said Assessment Year 2010-2011;

(iv) The said assessment under Sections 144/147 of the Act