False statement u/s 202
DWIJ JINDAL
(Querist) 22 October 2015
This query is : Resolved
A private limited company was having four directors naming A B C D. Company, owned a bricks kiln and owed bank loan of Rs 50 lacs, works for 2 months only. Later on, all the four director submitted application for closure of the company to Registrar of Companies stating that company could not do any business, there is no bank loan and submitted affidavits and indemnity bonds and audited balance sheet with NIL Balance for closure of the company. The Registrar struck off the name of the company u/s 560 of the Companies Act 1956. Later on, Mr. X, brother of director C and D files a complaint case against A stating that his family invested Rs. 15 lacs in the company and the money was embezzled. No documentary proof was submitted even after calling of proofs by the court. X gives his statement u/s 200 and C and D give their statement u/s 202. Court issue summons u/s 406, 420, 467, 468, 471 I. P. C. Now in the final arguments u/s 482 in High Court, I want to take the plea that directors have submitted affidavits and indemnity bonds before Registrar that their company did not work and in this case, same directors are giving statement on oath u/s 202 that they had invested Rs. 15 lacs and the money was embezzled. Whether the directors are punishable and the case may be quashed by the Allahabad High Court?
P. Venu
(Expert) 23 October 2015
There could be any definite answers as to what court would decide.
Rajendra K Goyal
(Expert) 29 October 2015
The line of action has to be decided by defence after referring full case file, court would consider on merits.
