Respondent No.1 & 2 directed to initiate action under Chapter ...

Respondents 1&2 ordered to act against Respondent 3 & sister firms for record manipulation & fund siphoning under Companies Act.

Case Laws Companies Law

July 31, 2024

Respondent No.1 & 2 directed to initiate action under Chapter XIV of Companies Act, 2013 against respondent No.3 and sister group companies for manipulating records and siphoning funds to shell companies. Court finds inaction by respondents No.1 & 2 unfathomable despite information about financial affairs. Imperative to exercise statutory duties in arresting pilferage, safeguard interests of petitioner and others. Respondents No.1 & 2 conjointly directed to inspect affairs of respondent No.3 and related companies as per IRP reports, ensure compliance u/ss 206 to 210, submit Inspection Report within four weeks. Matter re-notified for hearing.

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Respondent No.1 & 2 directed to initiate action under Chapter ...

Respondents 1&2 ordered to act against Respondent 3 & sister firms for record manipulation & fund siphoning under Companies Act.

Case Laws Companies Law

July 31, 2024

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