https://www.taxtmi.com/caselaws?id=391933 The NCLT addressed jurisdictional issues regarding its power to direct the SFIO under the Companies Act, emphasizing the need for prompt action in cases of fund diversion involving public money. The Tribunal highlighted the importance of prioritizing substantial justice over technical objections, particularly in matters of public interest. Concerned with financial misconduct, it stressed the urgency of SFIO investigations to safeguard public funds. The Tribunal accepted the liquidator's report for record maintenance, advancing the ongoing liquidation proceedings. The application for order recall was dismissed, underscoring the gravity of addressing misappropriation of public funds promptly. en-us Wed, 24 Jul 2019 00:00:00 +0530 Mon, 10 Feb 2020 08:57:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391933 The NCLT addressed jurisdictional issues regarding its power to direct the SFIO under the Companies Act, emphasizing the need for prompt action in cases of fund diversion involving public money. The Tribunal highlighted the importance of prioritizing substantial justice over technical objections, particularly in matters of public interest. Concerned with financial misconduct, it stressed the urgency of SFIO investigations to safeguard public funds. The Tribunal accepted the liquidator's report for record maintenance, advancing the ongoing liquidation proceedings. The application for order recall was dismissed, underscoring the gravity of addressing misappropriation of public funds promptly. Case-Laws Companies Law Wed, 24 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391933