JUDGMENT :

GITA GOPI, J.

1. RULE. Learned Additional Public Prosecutor waives service of notice of Rule on behalf of the respondent – State.

2. The petitioners have challenged the Special Case Nos.11/2008 and 12/2008 before the City Civil and Sessions Court, Ahmedabad which is under Sections 7, 8, 9, 10, 12 and 13(1)(2) of the Prevention of Corruption Act, 1988 (hereinafter referred to in short as ‘the P.C. Act’) and and Sections 405, 409, 420, 34 and 114 of the Indian Penal Code.

2.1. The petitioners of Criminal Miscellaneous Application No.11361/2017 are the erstwhile Directors of a Company in the name of Gujarat Steel Tubes Limited, which was engaged in the business of manufacturing of steel tubes in the State of Gujarat.

2.2. The petitioner in Criminal Miscellaneous Application No.17699/2017 is one of the petitioners of the earlier referred matter who states that he is the erstwhile Director of Nika Tubes Limited, which is a sister concern of Gujarat Steel Tubes Limited.

3. It is contended, that both the Companies were facing various financial and operational issues and eventually after seeking opinion of the BIFR and AAIFR, it was ordered to be wound up by the order of this Court in