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OFFENCES TO BE NON – COGNIZABLE [SECTION 439]
Every offence under this Act except the offences referred to in sub – section (6) of Section 212 shall be deemed to be non – cognizable within the meaning of the said code.
No court shall take cognizance of any offence under this Act except on the complaint of –
(a) the Registrar in writing,
(b) a shareholder of the company,
(c) a person authorised by the Central Government.
The court may take cognizance of offences relating to issue and transfer of securities and non – payment of dividend on complaint in writing by a person authorised by the Securities and Exchange Board of India.
Where the complainant is the Registrar or a person authorised by the Central Government, the presence of such officer before the Court trying the offence shall not be necessary. The court may require personal attendance of these complainants at the trial.
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