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G. JAYACHANDRAN
Sky Cotex India Private Limited, Tamil Nadu – Appellant
Versus
Registrar of Companies, Coimbatore – Respondent
JUDGMENT
(Prayer: Criminal Original Petition is filed under Section 482 of Cr.P.C., to call for the records and quash the complaint in C.C.No.156 of 2018, on the file of the Judicial Magistrate No.III, Coimbatore.)
1. The petition to quash the complaint filed by the Registrar of Companies against the petitioners herein alleging non-compliance of Section 148 of Companies Act, 2013 and thereby, liable for prosecution under Section 148(8) of Companies Act, 2013.
2. The 1st petitioner herein is the Private Company incorporated under the Companies Act. The 2nd petitioner is the Managing Director of the Company. The prosecution is launched on the premise that the 1st accused is incorporated under the Companies Act on 11.10.2006. Section 148 of the Companies Act, 2013 came into force from 01.04.2014. As per the provision of Section 148 of Companies Act and Rules framed thereunder in Companies (Cost records and Audit) Rules 2014, a company which has net worth of above Rs.500 Crores or annual turnover of above Rs.100 crores has to appoint cost auditor and maintain Cost Audit records in their books of account. Every Company which has to appoint Cost Auditor shall resolve to appoint Cost Auditor
Non-compliance with Section 148 of the Companies Act, 2013, constitutes a continuing offence, and the complaint was not barred by limitation.
The main legal point established in the judgment is the interpretation and application of the period of limitation for filing a complaint under the Companies Act and the Code of Criminal Procedure.
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