2025 (3) TMI 853

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....ENT   (PER DR. NEELA GOKHALE, J.) 1) The Petitioner essentially assails the forensic report dated 9th August 2023 prepared by the Respondent No. 2-BDO India LLP, a Chartered Accountant's Firm. According to the Petitioner, the Respondent No. 2-Firm is appointed by the Respondent No.1-Bank of India to conduct a forensic audit of the Respondent No. 3-Company, which is currently under the Corporate Insolvency Resolution Process ('CIRP'). The Petitioner is an erstwhile director of the Respondent No. 3-Company (now under suspension) 2) By order dated 25th September 2023, the Petitioner was granted leave to amend the prayer clause, to challenge the show-cause notice dated 17th August 2023, issued by the concerned Committee of the Responde....

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....amath, learned Senior Counsel appearing for the Petitioner insists that the FAR itself be set aside on the ground that the forensic report on the basis of which the show-cause notice was issued was inconsistent and based on incomplete information. He says that the Respondent No. 3-Company of which the Petitioner was a promoter is under the CIRP and hence, the Resolution Professional ('RP') is seized with the documents of the company. The Respondent No. 3-Auditor's firm thus, has no access to all the relevant documents and accounts and the FAR is obviously based on incomplete statements and documents. Mr. Kamath further submits that the FAR is merely tentative considering the absence of books of accounts and underlying the supporting documen....