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Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
The NCLAT upheld the impugned order dated 02.04.2025, affirming it as a continuation of prior directions rather than a review or recall prohibited under Section 420(2) of the Companies Act, 2013. The Tribunal found no justification for conducting a Secretarial Audit given the absence of evidence that financial statements were ever filed with the ROC for the period 2015-2023. The appellant failed to produce any material disputing the PCS report, which confirmed that the company was non-operational and thus ineligible for such audit. The appellant's reliance on pleadings without judicial scrutiny or evidential support was rejected. Consequently, the order dispensing with the Secretarial Audit was deemed judicious and based on a proper appreciation of the record. The appeal was dismissed in its entirety for lack of merit.
The NCLAT upheld the impugned order dated 02.04.2025, affirming it as a continuation of prior directions rather than a review or recall prohibited under Section 420(2) of the Companies Act, 2013. The Tribunal found no justification for conducting a Secretarial Audit given the absence of evidence that financial statements were ever filed with the ROC for the period 2015-2023. The appellant failed to produce any material disputing the PCS report, which confirmed that the company was non-operational and thus ineligible for such audit. The appellant's reliance on pleadings without judicial scrutiny or evidential support was rejected. Consequently, the order dispensing with the Secretarial Audit was deemed judicious and based on a proper appreciation of the record. The appeal was dismissed in its entirety for lack of merit.
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