https://www.taxtmi.com/caselaws?id=314364 The NCLT Bengaluru allowed a petition under Section 213 of the Companies Act, 2013 seeking investigation into a company's affairs during liquidation. The tribunal found specific allegations of irregularities including excessive sale of 2,43,037 sq. ft. against entitlement of only 82,216.30 sq. ft. under joint development agreement, and fake lease agreements with related parties to mislead buyers with false rental return promises. The resolution professional failed to address these allegations with proper explanations or denials, warranting investigation under Section 213. en-us Thu, 07 Dec 2023 00:00:00 +0530 Mon, 03 Jun 2024 19:29:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314364 The NCLT Bengaluru allowed a petition under Section 213 of the Companies Act, 2013 seeking investigation into a company's affairs during liquidation. The tribunal found specific allegations of irregularities including excessive sale of 2,43,037 sq. ft. against entitlement of only 82,216.30 sq. ft. under joint development agreement, and fake lease agreements with related parties to mislead buyers with false rental return promises. The resolution professional failed to address these allegations with proper explanations or denials, warranting investigation under Section 213. Case-Laws Companies Law Thu, 07 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314364