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2023 (6) TMI 1350

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..... ON NO. 1399 OF 2023 - -
Corporate Laws
Jurisdiction of the National Financial Reporting Authority (NFRA) established inter alia under Section 132(1) of the Companies Act, 2013 - HELD THAT:- The direction is that all Petitioners must coordinate between themselves to present their arguments on one day together on the jurisdictional issue. It seems unworkable to expect the Authority to hear the .....

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..... chana Karad, i/b The Juris Partners Advocates, for the Petitioner in WP/1399/2023 with IA(ST)/14912/2023 with IA(ST)/15607/2023. Mr Anil Singh, ASG, with Aditya Thakkar, Ashish Mehta & Aarya More, i/b Ethos Legal Alliance, for the Respondents in all Petitions. ORDER PC:- 1. All these Writ Petitions challenge first and foremost the jurisdiction of the National Financial Reporting Authority ("NF .....

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..... d allow the Petitioners before us legal representation because jurisdiction is a technical legal argument. 3. On instructions, Mr Singh, learned ASG states that there is no difficulty in allowing legal representation. He states that the Authority will decide all issues, including jurisdiction. 4. It appears to us logical that the issue of jurisdiction will be decided first because if the NFRA ul .....

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..... suing a direction identical to that which we would have issued at the hearing on jurisdiction being before us rather than the Authority. The direction is that all Petitioners must coordinate between themselves to present their arguments on one day together on the jurisdictional issue. It seems to us unworkable to expect the Authority to hear the same argument on jurisdiction repeatedly. How the su .....

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