https://www.taxtmi.com/caselaws?id=281217 The court granted the petition under Section 130(1) of the Companies Act, 2013, allowing re-opening and re-casting of the books of account and financial statements of three companies for the past five financial years. The decision was based on reports from ICAI and SFIO indicating fraudulent preparation of accounts and mismanagement. Notices were served to regulatory bodies, with SEBI not objecting to the re-opening. The court emphasized the need for evidence before implicating auditors in fraudulent activities and directed the Central Government to appoint Chartered Accountants for the task, ensuring compliance with legal procedures. en-us Tue, 01 Jan 2019 00:00:00 +0530 Sat, 08 Jun 2019 07:23:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281217 The court granted the petition under Section 130(1) of the Companies Act, 2013, allowing re-opening and re-casting of the books of account and financial statements of three companies for the past five financial years. The decision was based on reports from ICAI and SFIO indicating fraudulent preparation of accounts and mismanagement. Notices were served to regulatory bodies, with SEBI not objecting to the re-opening. The court emphasized the need for evidence before implicating auditors in fraudulent activities and directed the Central Government to appoint Chartered Accountants for the task, ensuring compliance with legal procedures. Case-Laws Companies Law Tue, 01 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281217