https://www.taxtmi.com/caselaws?id=291574 The Tribunal upheld the maintainability of the company petition under Section 140(5) of the Companies Act, 2013, ruling that the section applies to auditors who have acted fraudulently, irrespective of their current status. It emphasized the legislative intent to prevent such auditors from being appointed for five years and endorsed a purposive interpretation of the law. The applications challenging the petition's maintainability were rejected, and the case was scheduled for further proceedings. en-us Fri, 09 Aug 2019 00:00:00 +0530 Mon, 04 Jan 2021 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291574 The Tribunal upheld the maintainability of the company petition under Section 140(5) of the Companies Act, 2013, ruling that the section applies to auditors who have acted fraudulently, irrespective of their current status. It emphasized the legislative intent to prevent such auditors from being appointed for five years and endorsed a purposive interpretation of the law. The applications challenging the petition's maintainability were rejected, and the case was scheduled for further proceedings. Case-Laws Companies Law Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291574