https://www.taxtmi.com/caselaws?id=275018 Where the legality and financial effect of transfers of shares and company assets are seriously disputed, and the record is incomplete, the NCLT may direct independent audit and compliance verification before final adjudication. The petitioners were found to satisfy the qualifying shareholding requirement and raised substantive concerns over valuation, accounting treatment, ownership of property, treatment of sale proceeds, and compliance with the company's constitutional and statutory requirements. Because later financial records were not produced and the factual position required independent verification, the Tribunal granted interim investigative relief and ordered appointment of an independent auditor and a practising company secretary to examine valuation, shareholding details, accounting entries, and statutory compliance. en-us Tue, 03 Oct 2017 00:00:00 +0530 Sat, 15 Sep 2018 10:05:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275018 Where the legality and financial effect of transfers of shares and company assets are seriously disputed, and the record is incomplete, the NCLT may direct independent audit and compliance verification before final adjudication. The petitioners were found to satisfy the qualifying shareholding requirement and raised substantive concerns over valuation, accounting treatment, ownership of property, treatment of sale proceeds, and compliance with the company's constitutional and statutory requirements. Because later financial records were not produced and the factual position required independent verification, the Tribunal granted interim investigative relief and ordered appointment of an independent auditor and a practising company secretary to examine valuation, shareholding details, accounting entries, and statutory compliance. Case-Laws Companies Law Tue, 03 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275018