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Issues: Whether the Appellate Tribunal should interfere with the NCLT's order appointing a forensic auditor in a pending oppression and mismanagement petition.
Analysis: The impugned order was passed in a petition under Sections 241 and 242 of the Companies Act, 2013 on allegations and counter-allegations of mismanagement, siphoning of funds, irregular accounting, and related financial improprieties. The Tribunal treated the forensic audit as an aid to ascertain the truth and to enable fair adjudication of the pending company petition. The exercise was supported by the pleadings and fell within the discretionary power available to the NCLT under Section 242(4) of the Companies Act, 2013. In an appeal against a discretionary order, interference is not warranted merely because another view is possible; interference lies only where the discretion is shown to be arbitrary, capricious, perverse, or contrary to settled principles.
Conclusion: The direction for forensic audit was a proper exercise of discretion and did not call for appellate interference; the appeal was liable to be dismissed.
Ratio Decidendi: A forensic audit may be ordered as an interim aid in oppression and mismanagement proceedings when the pleadings disclose serious financial allegations, and an appellate forum will not interfere with such a discretionary order unless the discretion is shown to be arbitrary, perverse, or legally unsustainable.
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