Company is registerd in Mumbai & was into manufacturing business. For business expansion they issued pref shares & took investment from inevstors from all over india. The company went into financial crisis & cheques issued by director towards redumption of pref shares got bounced & number of cases were filed against the director & he got convicted. In the mean time company went into liquidation on liquidation suit filed by one of creditors. Some of the investors filed cases under section 420, 34.The cases have been filed in states other than where the company is registered.
Very important to note the investors who took cheques towards redumption though took cheques never returned pref shares certificates & even their compliant mentions that they still have origanals with them. The company's office & directors own house has been sealed by liquidator.
My question is can jurisdiction of these cases be challenged. Company is registered in Mumbai , has office in Mumbai & pref shares form also clearly mentioned that jurisdiction is Mumbai. Pref shares were issued in Mumbai. Can 420 cases will stand in the court of law.
Experts please advise.
Best Regards,
Shrinkar
