Special Courts Established Under Companies Act, 2013 Can't Retrospectively Try Offences Committed Under 1956 Act: Karnataka High Court
In a landmark ruling, a Special Court under Section 68 of the Companies Act, 1956 has quashed criminal proceedings against professionals involved in a merger scheme. The court's decision came in response to a petition challenging the legality of the proceedings. The case, known as Deccan Charters Ltd. & Ors. vs. SFIO, involved allegations of fraudulent practices during a merger process sanctioned by the court in 2008. The petitioners, including…
