https://www.taxtmi.com/caselaws?id=385565 Ad-interim protection was granted in a challenge to the constitutional validity and operation of section 140(5) of the Companies Act, 2013, with the Court noting arguable questions on whether the proviso's reference to "action" required reading down to prosecution and whether proceedings could continue after the auditor's resignation. It also recorded prima facie concerns over prosecution under section 447 based on an interim report and over the sufficiency of time available to the sanctioning authority to consider a voluminous record. Further proceedings under section 140(5) and coercive action in the connected criminal complaint were restrained until the next date. en-us Wed, 04 Sep 2019 00:00:00 +0530 Sat, 07 Sep 2019 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385565 Ad-interim protection was granted in a challenge to the constitutional validity and operation of section 140(5) of the Companies Act, 2013, with the Court noting arguable questions on whether the proviso's reference to "action" required reading down to prosecution and whether proceedings could continue after the auditor's resignation. It also recorded prima facie concerns over prosecution under section 447 based on an interim report and over the sufficiency of time available to the sanctioning authority to consider a voluminous record. Further proceedings under section 140(5) and coercive action in the connected criminal complaint were restrained until the next date. Case-Laws Companies Law Wed, 04 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385565