https://www.taxtmi.com/caselaws?id=281218 The National Company Law Tribunal, New Delhi, allowed a petition by the Union of India, Ministry of Corporate Affairs under Section 133 of the Companies Act, 2013, for re-opening and recasting the accounts of 'Infrastructure Leasing & Financial Services Limited', 'IL&FS Financial Services Limited', and 'IL&FS Transportation Networks Limited' due to mismanagement. The Tribunal found no fraudulent preparation of accounts but evident mismanagement, ordering the accounts to be re-opened and recast for the past five financial years. The challenge to the order invoking Section 230 of the Companies Act, 2013 was dismissed for lack of merit, with the appeal being dismissed without costs. en-us Thu, 31 Jan 2019 00:00:00 +0530 Sat, 08 Jun 2019 07:23:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281218 The National Company Law Tribunal, New Delhi, allowed a petition by the Union of India, Ministry of Corporate Affairs under Section 133 of the Companies Act, 2013, for re-opening and recasting the accounts of 'Infrastructure Leasing & Financial Services Limited', 'IL&FS Financial Services Limited', and 'IL&FS Transportation Networks Limited' due to mismanagement. The Tribunal found no fraudulent preparation of accounts but evident mismanagement, ordering the accounts to be re-opened and recast for the past five financial years. The challenge to the order invoking Section 230 of the Companies Act, 2013 was dismissed for lack of merit, with the appeal being dismissed without costs. Case-Laws Companies Law Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281218