Whether jmfc have jurisdiction of section 630 of companies act?
Querist :
Anonymous
(Querist) 17 November 2011
This query is : Resolved
If yes why?
if no why?
where i find more details
Raj Kumar Makkad
(Expert) 18 November 2011
Court of JMFC is empowered to take cognizance under section 630 of Companies Act as provided in its sub-section 2. For your reference section 630 is re-produced hereunder which itself is clear:
630. Penalty for wrongful withholding of-property.
(1) If any officer or employee of a company-
(a) wrongfully obtains possession of any property of a company; or
(b) having any such property in his possession, wrongfully withholds it or knowingly applies it to purposes other than those expressed or directed in the articles and authorised by this Act;
he shall, on the complaint of the company or any creditor or contributory thereof, be punishable with fine which may extend to 1[ten thousand rupees].
(2) The Court trying the offence may also order such officer or employee to deliver up or refund, within a time to be fixed by the Court, any such property wrongfully obtained or wrongfully withheld or knowingly misapplied, or in default, to suffer imprisonment for a term which may extend to two years.
