https://www.taxtmi.com/caselaws?id=450408 NCLAT Chennai dismissed an appeal challenging NCLT's order directing independent audit in an oppression and mismanagement case. The appellant contested NCLT's power to order audit without finding fraud. NCLAT held that under Rule 11 of NCLT Rules 2016, the tribunal possesses inherent powers to order audit or make necessary orders for justice without pre-conditions. The audit was deemed necessary to ascertain facts amid allegations of fund siphoning and improper book maintenance. Following precedent in Archer Power System case, NCLAT confirmed forensic audit helps tribunals appreciate issues through independent reports, ensuring due process for all parties. en-us Tue, 20 Feb 2024 00:00:00 +0530 Tue, 05 Mar 2024 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450408 NCLAT Chennai dismissed an appeal challenging NCLT's order directing independent audit in an oppression and mismanagement case. The appellant contested NCLT's power to order audit without finding fraud. NCLAT held that under Rule 11 of NCLT Rules 2016, the tribunal possesses inherent powers to order audit or make necessary orders for justice without pre-conditions. The audit was deemed necessary to ascertain facts amid allegations of fund siphoning and improper book maintenance. Following precedent in Archer Power System case, NCLAT confirmed forensic audit helps tribunals appreciate issues through independent reports, ensuring due process for all parties. Case-Laws Companies Law Tue, 20 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450408