Judgment

SHELAT, J.:- (on behalf of himself and Dua J.): These two appeals, by special leave, arise out of two complaints, both of which were filed in respect of the same transaction and are therefore disposed of by a common judgment.

2. Appeal No. 214 of 1968 is against the judgment of the High Court of Calcutta dismissing the complaint filed by the appellant on January 5, 1996 under Sections 120B, 406 and 420 of the Penal Code against respondents 2 to 5, who are the directors and the secretary of M/s. Turner Morrison & Co. Ltd. (hereinafter referred to as the company).

3. The case of the appellant in the said complaint may be stated as follows :

4. At the material time, the appellant, one S. Verma and Frank Goldstein were the liquidators of Hungerford. Investment Trust Ltd. (in voluntary liquidation) (hereinafter referred to as Hungerford). At all material times Hungerford was the registered owner of 51 of the shares of the company and as such was ordinarily entitled to have the control and management of that company. These 51 of the shares numbered 2295 were of the face value of Rs. 1,000/- each. Out of these, 707 shares were in possession of the company.

5. Respondent 5, Harida