AI Overview...
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Section 468 of the Companies Act - Primarily deals with the limitation period for initiating criminal proceedings and certain civil actions against companies. It sets a statutory time frame within which prosecutions or claims must be filed, generally three years from the date of the offence or cause of action Indian Die C. C. P. Ltd VS State - Crimes, Teledata Technology Solutions Limited (A1), Chennai VS Deputy Registrar of Companies, Chennai - Madras, Nalco VS Registrar of Companies - Crimes, United Hire Purchase And Land Finance (P). Ltd. , (In Liqn. ) VS Kartar Singh - Punjab and Haryana.
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Nature of Offences under Section 468 - The section pertains to continuing offences related to non-compliance such as non-filing of financial statements (balance sheets, profit and loss accounts), and other violations under the Companies Act, 1956 and 2013. Courts have held that offences like non-filing are continuing in nature, affecting the computation of limitation periods Teledata Technology Solutions Limited (A1), Chennai VS Deputy Registrar of Companies, Chennai - Madras, Indian Die C. C. P. Ltd VS State - Crimes.
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Application in Criminal Proceedings - Section 468 is invoked to challenge the admissibility of criminal cases filed after the limitation period. Courts have emphasized the importance of adhering to the prescribed time frame, and cases filed beyond this period are often quashed or dismissed Indian Die C. C. P. Ltd VS State - Crimes, Nalco VS Registrar of Companies - Crimes.
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Civil and Winding-up Proceedings - The section also applies to civil claims such as winding-up petitions and recovery of dues. Limitation periods are computed considering exclusions like the period of the company's winding-up process, ensuring claims are filed timely United Hire Purchase And Land Finance (P). Ltd. , (In Liqn. ) VS Kartar Singh - Punjab and Haryana.
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Legal Interpretations and Judicial Decisions - Courts have clarified that the limitation period under Section 468 is strict but also recognize the concept of continuing offences, which may extend the time for filing claims or prosecutions. The courts have also considered procedural aspects, such as the necessity of sanctions or prior requisitions, in relation to limitation Farouk Irani VS Deputy Director, The Directorate of Enforcement Government of India Ministry of Finance Department of Revenue - Madras, Official Liquidator of Sree Ayyappa Chit Funds (P. ) Ltd. VS Registrar of Co-op. Societies - Karnataka.
Analysis and Conclusion - Section 468 of the Companies Act, both the 1956 and 2013 versions, establishes a clear limitation period for initiating criminal and civil proceedings against companies for offences like non-filing and financial misappropriation. The section's application is crucial for maintaining procedural discipline, preventing stale claims, and ensuring timely justice. Courts have upheld the importance of this provision, especially in cases involving ongoing offences, winding-up petitions, and corporate fraud allegations, emphasizing the need for claims to be filed within the statutory period to be valid Indian Die C. C. P. Ltd VS State - Crimes, Bala Financiers (P. ) Ltd. (In Liquidation) VS Ujjar Singh - Punjab and Haryana, Vivek Yadav VS State Of U. P. Thru. Prin. Secy. Home Lko. - Allahabad.
References: - Indian Die C. C. P. Ltd VS State - Crimes - Teledata Technology Solutions Limited (A1), Chennai VS Deputy Registrar of Companies, Chennai - Madras - Farouk Irani VS Deputy Director, The Directorate of Enforcement Government of India Ministry of Finance Department of Revenue - Madras - Alluri Sitaram Raju VS Kandregula Varaha Sankar Nageswara Rao - Andhra Pradesh - Bala Financiers (P. ) Ltd. (In Liquidation) VS Ujjar Singh - Punjab and Haryana - Nalco VS Registrar of Companies - Crimes - Vivek Yadav VS State Of U. P. Thru. Prin. Secy. Home Lko. - Allahabad - Official Liquidator of Sree Ayyappa Chit Funds (P. ) Ltd. VS Registrar of Co-op. Societies - Karnataka - United Hire Purchase And Land Finance (P). Ltd. , (In Liqn. ) VS Kartar Singh - Punjab and Haryana
Search Results for "468 Companies Act"
• India - Crimes
A.C.SENGUPTA, PADMA KHASTGIR
(Para 7) ... (iii) Criminal Procedure Code, 1973 Section 468-Companies ... 473-Companies Act, 1956 Section 220 (i)-Offence of non-filing of balance sheet and profit and loss account of the company by the ... (i) Criminal Procedure Code, 1973 Sections 468 and 472 Continuing offence - Not Defined- Principles which should be taken into consideration ... Cj307 of 1982 filed on 1-2-82 by the respondent No.2 the Assistant Registrar of Companies against the petitioners under Section 220(3....
2022 0 Supreme(Mad) 11 • India - Madras
V.BHARATHIDASAN
Code of Criminal Procedure, 1973 - Section 482, 472 , 468 - Companies Act, 1956 - Section 159 r/w 162, 220 ... Act, 1956 which are punishable under Section 162 and 220(3) of Companies Act, 1956, are continuing offences are not – Held, this ... filed three separate complaints under Section 220 r/w 220(3) of Companies Act alleging that balance sheet and profit and loss account ... The violation under section 220 of the Companies #HL_S....
2017 0 Supreme(Mad) 4151 • India - Madras
S.VIMALA
, 2002 - Sections 3 , 4 and 468 - Companies Act, 1956 - Banking Regulation Act, 1949 - Section 5(c) - Explosive Substances Act - ... involves two companies, i.e., a Non-Banking Financial Company and a Banking Financial Company and allegation is that Non-Banking ... fudged accounts and manipulated balance sheets - First leasing company is a non-banking financial company (NBFC) incorporated under Companies ... A complaint has been preferred by IDBI Limited, a company re....
2005 0 Supreme(AP) 479 • India - Andhra Pradesh
V.V.S.RAO
Code of Criminal Procedure, 1973 –Sections 482, 468 –Companies Act, 1956 –Indian Penal Code, 1860 –Sections ... Visakha Aqua Farms Limited, which is a Private Limited Company incorporated under the Companies Act, 1956. They filed the present petition under Section 482 of code of Criminal Procedure, 1973 (Cr. P. C. ). They pray this Court to quash the criminal case in C. C. ... Anita vyas (3) the last act of cruelty would be the starting point of limitation. The three-year period as per....
1988 0 Supreme(P&H) 606 • India - Punjab and Haryana
G.R.MAJITHIA
of the Companies Act, 1956. ... Companies Act, 1956 - Section 468 - Restoration of Possession Fact of the Case: The petitioner-company sought a direction ... Issues: The main issue was whether the court had jurisdiction under Section 468 of the Companies Act, 1956 to make an order ... This is an application under Section 456 read with Section 468 of the Companies Act, 1956 (for short "the #HL_ST....
1979 0 Supreme(P&H) 1 • India - Punjab and Haryana
HARBANS LAL, S.S.SANDHAWALIA
Fact of the Case: A claim petition was filed under Sec.446 (2) read with Sec.468, Companies Act, 1956, for the recovery ... Relief of Indebtedness Act, 1934. ... HIRE-PURCHASE AGREEMENT - PLEDGE - CONTRACT ACT, 1872, SEC.173, 176 - USURIOUS LOANS ACT, 1918 - PUNJAB RELIEF OF INDEBTEDNESS ... A claim petition under Sec.446 (2) read with Sec.468, Companies Act, 1956 , was decreed for the sum of Rs.21,681.33 against the present appel....
• India - Crimes
P.K.MOHANTY
(Para 6) ... (ii) Criminal Procedure Code, 1973 - Section 468 - Companies ... Act, 1956 - Section 211 - Bar to taking cognizance after lapse of period of limitation - Offence u/s. 211 Companies Act - Computation ... (i) Criminal Procedure Code, 1973 - Section 197 - Companies Act, 1956 - Section 211 – Sanction for prosecution, requirement of Petitioners ... ) of the companies Act and ultimately the complaint was filed on 1-12-1994. .....
2023 0 Supreme(All) 1255 • India - Allahabad
SUBHASH VIDYARTHI
Corporate Fraud - Anticipatory Bail - IPC 409, 420, 467, 468, 471 - Companies Act, 2013 - [CORPORATE FRAUD] - [ANTICIPATORY BAIL ... ] - [IPC 409, 420, 467, 468, 471, Companies Act, 2013] - The court discussed the allegations of mismanagement and misappropriation ... The informant had raised an objection that no requisition was served on the informant prior to holding of the EGM, as provided in Section 100 of the Companies Act, 2013 and in reply to t....
2012 0 Supreme(Kar) 894 • India - Karnataka
A.S.BOPANNA
Sections: Companies Act, 1956, Section 468 - The court considered the provisions of Section 468 of the Companies Act, 1956 in relation ... Companies Act, 1956 - Section 468 - Application for surrender of deposit receipts and payment of damages - Summary of Acts and ... Fact of the Case: The applicant filed an application under Section 468 of the Companies Act, 1956, seeking the....
1993 0 Supreme(P&H) 1007 • India - Punjab and Haryana
ASHOK BHAN
COMPANIES ACT, 1956 - SECTION 446(2), 458-A, 468 - LIMITATION - WINDING UP - CLAIM PETITION - COMPUTATION OF LIMITATION PERIOD ... Ltd. filed a claim petition under Section 446(2) read with Section 468 of the Companies Act, 1956, seeking to recover unpaid called ... Ratio Decidendi: The court relied on Section 458-A of the Companies Act, which excludes the period from the date of commencement ... Section 458-A of the Companies #HL_....
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