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In Re: Neelakantan Nambisan - Court Judgment

LegalCrystal Citation
SubjectCivil
CourtChennai
Decided On
Reported in(1940)1MLJ478a
AppellantIn Re: Neelakantan Nambisan
Excerpt:
- orderlakshmana rao, j.1. the petitioner was an ordinary director and the evidence does not warrant the conclusion that he was knowingly and wilfully a party to the default to maintain the requisite cash reserve. the conviction under section 277-l of the indian companies' act is therefore set aside and the fine if levied will be refunded.
Judgment:
ORDER

Lakshmana Rao, J.

1. The petitioner was an ordinary director and the evidence does not warrant the conclusion that he was knowingly and wilfully a party to the default to maintain the requisite cash reserve. The conviction under Section 277-L of the Indian Companies' Act is therefore set aside and the fine if levied will be refunded.


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