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TMI Blog2019 (1) TMI 338X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Companies Act, 2013 read with Explanation I thereto. List on 04.02.2019 for final argument. - CP No. 4365/140(5)/MB/2018 - - - Dated:- 3-1-2019 - Shri V.P. Singh, Member (Judicial) And Shri Ravikumar Duraisamy, Member (Technical) For The Petitioner : Mr. Vinod Sharma RoC, Joint Director R.K. Dalmia, Mr. R.K. Gholap For The Respondents : Mr. Mukesh Maneklal Choksi And Mr. Eshwar ORDER 1. This Petitioner has filed this Petition Under Section 140(5) of the Companies Act,2013 for following reliefs in terms of Section 140(5):- (a) Direct that the Respondent No. 1 shall immediately cease to function as statutory auditor of Respondent No. 2 Company. (b) Permit the Petitioner to appoint an independent auditor for the Respondent No 2 Company to replace Respondent No 1, in terms of the first proviso to Section 140(5) of the Companies Act, 2013 read with Explanation I thereto. (c) Direct that the Respondent No 1 and his proprietorship firm shall not be eligible to be appointed as an auditor of any company for a period of 5 years from the date of passing of order, it terms of second proviso to section 140 (5) of the Companies Act, 2013, read with E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... kesh Choksi the former CA of the company, using my innocence he induced me to join the company as director and he has promised me to take care of any consequences arising out of activates of the company In this regard what you want to say? Answer No 19: - They have seen the situation and in the pretext of receiving monetary gain they become directors of the company. I have not induced them. Question No- 20: - Who is the company secretary of the company their addresses, membership/Registration No./Mobile/Tel. No? Answer No 20 :- I don t know. Question No- 21 :- Do you know S M Bhat Associates, Membership No 030696.3, Sweet Home, 9th Road Extension, JPVD Scheme, Mumbai- 40009 the statutory auditor of the company for the Financial Year 2013-14.? Answer No 21 :- I know him as a Chartered Accountant. I will Submit the relevant information latest by 20.03.2018. Question No- 22 :- when you are appointed as statutory auditor of the Company? Answer No 22 :- for the Financial year 2014-15. Question No- 23 :- How long you are a statutory auditor of the company? Answer No 23 :- I was appointe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Babulal, the Chairman of the R2 Company, who dodged his responsibilities to assist in the inspection and all the commonly known attributes of a shell company are existing in the case of R2 Company under inspection. 4. It is contended that pursuant to the Inspection, Inspecting Officer has submitted an inspection Report dated 10.05.2018 and a Supplementary Inspection Report date 13.08.2018 are annexed herewith as Annexure P-3. 5. It is further stated that as per provision Under Section 207 (3) of the Companies Act, 2013, the Investigating Officer vested with the powers of Civil Court for directing production of Books of Account of the company under inspection and further to summon, enforce attendance of the person and examination under oath. Inspecting officer issued summons to all the Directors of the R2 Company in addition to summons to R1, who were the Statuary Auditors of the R2 company for the Financial Years 2014-15 and 2015-16. 6. Ld RoC, has emphasized on the statement of Statuary Auditor wherein he has stated that he has not Audited Books of Account of the company however he has signed Auditor Report of the company for the relevant period. 7. Ld. Roc, has furth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ancial statements based on our audit. 11. Whereas he has admitted in his statement that he has not audited the Books of Account of the Company and has only signed Auditor Report of the Company for the relevant period. It shows that the statuary auditor has given false certificate that he audited the Books of Account of the company for the relevant period. It is further found by the Inspecting Officer in his Inspection Report dated 10.05.2018 and Supplementary Inspection Report dated 13.08.2018, as detailed above for ready reference. (a) Many of the allegations raised by the complainant, Mr. Jagdip H. Vaishhav, are true due to the sheer fact that no registered office of the Respondent No 2 Company, existed. (b) No books of accounts of the Respondent no 2 Company were produced to the Inspecting Officer despite notices and summons being issued to the R2 Company, its directors and statutory auditors. (c) The Director/Managing Director at the helm affairs failed to respond to the notices issued by the Inspecting Officer. (d) The R2 Company came out with Initial Public Officer (IPO) and issued prospectus to raised public funds on 10.10.1996. There after the team of direc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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