- (1.) The instant Criminal revisional application under Sections 401 and 482 of the Code of Criminal Procedure is directed against the order passed by the learned Metropolitan Magistrate, 14th Court, Calcutta on 26.3.91 in Case No. C/205 of 1979 under Section 58A (5)(b) of the Companies Act, 1956 and this is at the instance of accused-petitioner Nos. 1, 2, 3 and 4.
(2.) The case of the petitioner was in brief that in the year 1979 the Opposite P.y No. 1 being Registrar of Companies, West Bengal filed a petition of complaint before the learned Chief Metropolitan Magistrate, Calcutta against the petitioners alleging inter alia that although the petitioners received a sum of Rs. 12,30,000/- as deposit during the year ending on 31.3.77, they did not deposit the said amount within 30 days from the date of acceptance of such money and thus committed an offence punishable under Section 58A(5) (b) of the Companies Act, 1956. Thereupon learned Chief Metropolitan Magistrate, Calcutta took cognizance of the offence and issued process against the petitioners and finally transferred the case of the Court of learned Metropolitan Magistrate, 14th Court, Calcutta for disposal. According to the petitioners, since the offence under Section 58A (5)(b) of the Companies Act was punishable with imprisonment for a term of five years and fine, the learned transferee Court ought to have followed the procedure laid down for trial of warrant cases, but unfortunately the learned Court below while dealing with the case followed erroneously and illegally procedure laid down by the Code for the trial of Summons procedure cases. According to the petitioners they have thereby been prejudiced and hence the order passed by the learned Court below on 26.3.91 was liable to be quashed.
(3.) I have had the opportunity of hearing learned Counsels of both sides in the matter at length.;