HC upheld SFIO investigation report into corporate misconduct, ...

SFIO Investigation Report on Corporate Misconduct Upheld; Prosecution Under Companies Act and IPC to Proceed

February 18, 2025

Case Laws Companies Law HC

HC upheld SFIO investigation report into corporate misconduct, rejecting petitioners' challenge to quash findings. Court determined company affairs were conducted prejudicially to public interest, warranting prosecution under Companies Act and IPC. Petitioners' claims of arbitrary process and natural justice violations were dismissed as premature. Report's validity previously confirmed through judicial scrutiny, making current petition an abuse of process. Court noted petitioners retain right to contest findings during trial proceedings, but writ jurisdiction inappropriate for pre-emptive challenge. SFIO recommendations for prosecution maintained based on substantial evidence of financial irregularities. Petition dismissed with all grounds rejected.

View Source

← Previous Next →

HC upheld SFIO investigation report into corporate misconduct, ...

SFIO Investigation Report on Corporate Misconduct Upheld; Prosecution Under Companies Act and IPC to Proceed

February 18, 2025

Case Laws Companies Law HC

You may also like:

Validity of Investigation proceedings against the Employee by CID - Investigation was already being conducted by the SFIO - A specific procedure has been laid down under...

Legality of SFIO Investigation - non-maintenance of the registered office at the address mentioned in Form No.10 - The High court found no statutory or legal impediment...

The Madhya Pradesh High Court examined the scope of judicial review u/s 212(1)(c) of the Companies Act, 2013 regarding the Central Government's sanction for an...

Dishonor of Cheque - Effect of moratorium to non-corporate debtor/debtors dealt under Section 141 of the Negotiable Instruments Act - vicarious liability - The twin...

Undisclosed income of the assessee - benami investment - benami transactions - It was for the AO to produce or investigate and find out some financial connection between...

Professional misconduct by CA - The NFRA concluded that the actions of the firm and the engagement partner constituted professional misconduct. They failed to cooperate...

Jurisdiction - Constitutional Validity of Rule 9(3)(b) of the Chartered Accountants’ (Procedure of Investigation of Professional and Other Misconduct and Conduct of...

Bribe - bribing the public servant, having abetted P.W. 1 for commission of the offence - if it is a definite case that the accused came and gave money as it is...

Failure to make repayment of deposit with interest u/s 74(3) - NCLT directed the ROC to initiate prosecution u/s 73(4) - ROC also referred to the SFIO to make an inquiry...

Power of the SFIO to Investigate Offences under the IPC - investigate offences under the Companies Act - If during course of investigation under the present Act, the...

IBBI amended its Inspection and Investigation Regulations 2017 through powers under IBC sections 196, 217-220, and 240. The amendment introduces a clarification to...

The High Court held that prosecution u/ss 276C, 277, 278B, and 278E for tax evasion was invalid as it violated CBDT guidelines. Prosecution was premature without the...

Direction for investigation into the affairs of the company - reference the matter of SFIO on the request of the official liquidator - It is not the case of the Official...

Unexplained cash credits u/s.68 - Penny stock purchases - The modus operandi involving operators, intermediaries and the beneficiaries have already been detailed in the...

Complaint against fraudulent and illegal siphoning of funds- Validity of second complaint / FIR on the same issue which was already pending - There is no doubt about the...

Quick Updates: