https://www.taxtmi.com/caselaws?id=307243 The court ordered a forensic audit of respondent no.4 due to allegations of fund siphoning into related companies within the IREO Group. The Serious Fraud Investigation Office (SFIO) directed an investigation into potential violations under the Companies Act, 2013 and the Foreign Exchange Management Act (FEMA). Despite opportunities, most respondents did not file counter affidavits, and private respondents failed to appear. The court restrained private respondent companies from dealing with assets until the next hearing, emphasizing the seriousness of the allegations. en-us Fri, 07 Feb 2020 00:00:00 +0530 Thu, 30 Mar 2023 01:21:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307243 The court ordered a forensic audit of respondent no.4 due to allegations of fund siphoning into related companies within the IREO Group. The Serious Fraud Investigation Office (SFIO) directed an investigation into potential violations under the Companies Act, 2013 and the Foreign Exchange Management Act (FEMA). Despite opportunities, most respondents did not file counter affidavits, and private respondents failed to appear. The court restrained private respondent companies from dealing with assets until the next hearing, emphasizing the seriousness of the allegations. Case-Laws Indian Laws Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307243