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TMI Blog2023 (8) TMI 999X X X X Extracts X X X X X X X X Extracts X X X X ..... and formation of a High Power Committee to look into lapses leading to closure of more than 6 lakh companies - HELD THAT:- At this stage, the petitioner - Suman Kumar, who appears in person and has been heard, raises a grievance regarding non-issue/non-compliance of E-FORM INC-22A (ACTIVE) on mismatch etc. - no comment made in this regard. The petitioner Suman Kumar, if advised, may make a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of India and also for the reasons set out below, we do not find any good ground and reason to accept the prayers made in the present writ petition. The first prayer is the challenge to the amended Rule 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 vide notification dated 03.01.2020. By the amendment, every private company which has a paid up share ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exercise caution and judicial restraint. Govt. of A.P. v. N. Subbarayudu, (2008) 14 SCC 702; State of Punjab v. Amar Nath Goyal, (2005) 6 SCC 754; Transport Dock Workers Union v. Mumbai Port Trust, (2011) 2 SCC 575; and Essar Steel Ltd. v. Union of India, (2016) 11 SCC 1. Unless it is demonstrated that the element of discretion/deliberation in increase in the paid-up share capital of companies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Companies Act, 2013 contains various provisions to deal with cases of fraud etc. Further, the Serious Fraud Investigation Office (SFIO) has been established to take appropriate action in such cases, and there are stringent penalty provisions. No relief can be sought by or on behalf of these defaulting companies, as that would mean approaching this Court with unclean hands, given that these compa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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