https://www.taxtmi.com/caselaws?id=411965 The court quashed SEBI's decision appointing GTB as the forensic auditor due to a conflict of interest involving a board member's ties with both GTB's sister concern and the audited company. Emphasizing the principles of natural justice, the court found SEBI's actions lacked proper reasoning and fairness. Addressing jurisdictional objections, the court held that even a fraction of the cause of action sufficed for the High Court to entertain the petition. The court dismissed the argument of non-joinder of parties, asserting it did not impact the petition's validity. It upheld minority shareholders' rights, directing SEBI to appoint an impartial auditor to safeguard their interests. en-us Wed, 25 Aug 2021 00:00:00 +0530 Thu, 25 Nov 2021 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411965 The court quashed SEBI's decision appointing GTB as the forensic auditor due to a conflict of interest involving a board member's ties with both GTB's sister concern and the audited company. Emphasizing the principles of natural justice, the court found SEBI's actions lacked proper reasoning and fairness. Addressing jurisdictional objections, the court held that even a fraction of the cause of action sufficed for the High Court to entertain the petition. The court dismissed the argument of non-joinder of parties, asserting it did not impact the petition's validity. It upheld minority shareholders' rights, directing SEBI to appoint an impartial auditor to safeguard their interests. Case-Laws SEBI Wed, 25 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411965