- (1.) By the instant application under Section 482 of the Code of Criminal Procedure the petitioners have sought quashing of the proceedings in Case No. C/4132/2001 under Section 217(5) of the Companies Act, 1956 (in short the Act) pending before the learned Metropolitan Magistrate, 10th Court, Calcutta.
(2.) The facts anterior to filing of the instant application may briefly be narrated thus.
(3.) M/s. East India Pharmaceuticals Works Limited (hereinafter referred to as the Company) was incorporated under the Indian Companies Act, 1913 on 27th April, 1936 bearing registration No. 21-O8598 and having its registered office at 6, Little Russel Street, Kolkata-700 071. Petitioner Nos. 1 and 2 are the Joint Managing Directors and petitioner Nos. 3 and 4 are the Directors of the Company. For the financial year ending 31st March, 1993 the statutory Annual General Meeting (AGM) of the Company was held on 17th September, 1993 and the said meeting audited accounts of the company for the said financial year, reports of the Directors and auditors of the Company were considered and adopted. Under Section 220 of the Act, the notice of AGM with audited accounts, reports of the Directors and auditors were filed with the authority concerned.;