NCLT findings overturned: Insufficient evidence of fraud or collusion by auditor in oppression and mismanagement case.

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....Oppression and Mismanagement - siphoning of funds - The act of the appellant is certainly a negligent act but there is no material on record to infer that he has acted fraudulently and colluded with the directors of the company in relation to affairs of the company or he has misused his position as statutory auditor of the company - the findings of the NCLT are not sustainable in law as well as in facts. - AT....