https://www.taxtmi.com/caselaws?id=301733 A petition seeking investigation into a company's affairs was rejected because Section 213(b) of the Companies Act, 2013 requires material showing circumstances suggesting fraud, unlawful purpose, oppression or misconduct. The allegations were unsupported by documents and no prima facie basis for investigation was established. The Tribunal also held that, although no express limitation period applies, an inordinate and unexplained delay can render such a petition unsustainable under the Limitation Act principle applied through the Companies Act framework. The application therefore failed for lack of substantiation and for stale, unexcused delay. en-us Wed, 17 Nov 2021 00:00:00 +0530 Sun, 17 Apr 2022 19:53:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301733 A petition seeking investigation into a company's affairs was rejected because Section 213(b) of the Companies Act, 2013 requires material showing circumstances suggesting fraud, unlawful purpose, oppression or misconduct. The allegations were unsupported by documents and no prima facie basis for investigation was established. The Tribunal also held that, although no express limitation period applies, an inordinate and unexplained delay can render such a petition unsustainable under the Limitation Act principle applied through the Companies Act framework. The application therefore failed for lack of substantiation and for stale, unexcused delay. Case-Laws Companies Law Wed, 17 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301733