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MILIND RAMESH PHADKE
Shashikant Patel – Appellant
Versus
Registrar of Companies – Respondent
ORDER
[This order shall also govern final disposal of M.Cr.C. No.2629 of 2025.]
1. The present petition, under section 482/528 of the Code of Criminal Procedure, 1973/B.N.S.S., has been preferred by the petitioner for quashment of criminal proceedings as well as the order of taking cognizance against the petitioner for the offence under the provisions of section 129 of the Companies Act, 2013 (''Act of 2013'') registered as Criminal Case No.1767 of 2015 before the Court of Chief Judicial Magistrate, Gwalior.
2. Learned counsel for the petitioner had submitted before this Court that on 4.12.1991, M/s. Plethico Pharmaceuticals Private Limited was incorporated as private limited company under the Act of 1956 having its Corporate Identification No. L-24232-MP-1991-PLC006801 and was having registered Office at A.B. Road, Manglia, Indore (M.P.) and later on, it was converted into a Limited Company. The respondent/Complainant had filed a complaint dated 11.3.2015 before the Court of learned Chief Judicial Magistrate, Gwalior against the present petitioner, who was Managing Director at the relevant of point of time, alleging that from Balance Sheet dated 31.12.2012, it was observed that the C
The court emphasized the importance of considering the question of limitation and condonation of delay in summoning the petitioners to face trial.
The notice for financial reporting violations was quashed due to it being time-barred and issued without sufficient consideration of the company's responses.
The issuance of regulatory notices for technical violations under Company law must respect limitation periods and demonstrate substantive grounds for action rather than mechanical issuance of notices....
The court confirms that service of demand notice to a company suffices for its directors regarding dishonoured cheques, establishing limitations under the Negotiable Instruments Act strictly apply.
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