https://www.taxtmi.com/caselaws?id=457615 The court dismissed the appeals, affirming the learned single judge's decision that the appellants were conducting business, thereby making Section 237 of the Companies Act applicable. The court upheld the prima facie case for investigation based on substantial evidence, including reports by SEBI and the Joint Parliamentary Committee. Simultaneous investigations by SEBI, CBI, and the Department of Company Affairs did not preclude the necessity for a Section 237 investigation. The court found no error in the single judge's reasoning on the legal and factual issues presented by the appellants, thus supporting the continuation of the investigation. en-us Mon, 02 May 2005 00:00:00 +0530 Tue, 24 Sep 2024 16:23:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457615 The court dismissed the appeals, affirming the learned single judge's decision that the appellants were conducting business, thereby making Section 237 of the Companies Act applicable. The court upheld the prima facie case for investigation based on substantial evidence, including reports by SEBI and the Joint Parliamentary Committee. Simultaneous investigations by SEBI, CBI, and the Department of Company Affairs did not preclude the necessity for a Section 237 investigation. The court found no error in the single judge's reasoning on the legal and factual issues presented by the appellants, thus supporting the continuation of the investigation. Case-Laws Companies Law Mon, 02 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457615