https://www.taxtmi.com/caselaws?id=199746 Parallel SEBI action and pending criminal proceedings do not, by themselves, bar a Company Law Board investigation under Section 237(b) of the Companies Act, 1956, because the statutory powers operate in different fields. The Board held that the material before it, including SEBI findings and the surrounding conduct of the company and its management, disclosed a prima facie basis for investigation where circumstances suggested fraud, unlawful purpose, or misconduct. The objection based on prior regulatory examination was rejected, and investigation into the affairs of the respondent companies was directed. en-us Mon, 25 May 2009 00:00:00 +0530 Sat, 10 Mar 2018 13:13:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199746 Parallel SEBI action and pending criminal proceedings do not, by themselves, bar a Company Law Board investigation under Section 237(b) of the Companies Act, 1956, because the statutory powers operate in different fields. The Board held that the material before it, including SEBI findings and the surrounding conduct of the company and its management, disclosed a prima facie basis for investigation where circumstances suggested fraud, unlawful purpose, or misconduct. The objection based on prior regulatory examination was rejected, and investigation into the affairs of the respondent companies was directed. Case-Laws Companies Law Mon, 25 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199746