TaxTMI 
TaxTMI 
2025 (6) TMI 863
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.... on 02.09.2024, the Appellant has questioned the propriety of the Impugned Order dated 21.06.2024. By virtue of the Impugned Order as rendered by the learned NCLT, Chennai, in CP/15(CHE)/2023, being a proceeding held under Sections 241, 242 & 59 of the Companies Act, 2013, the learned Adjudicating Authority has passed the Impugned Order solely with an objective of giving a suitable direction so as to protect the interest of the Company and its shareholders, qua the declaration of the rights as against the alleged acts of Respondent No.2/ Appellant herein, which were alleged to be oppressive and prejudicial to the interests of Respondent No.1 company. 2. In the said Company Petition filed before Ld. NCLT, the Petitioner/Respondent No.2 here....
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....re was a unilateral appointment of Auditor, without there being prior consent of the Petitioner/Respondent No.2 herein and the Petitioner was demied the access to the records of Respondent No.1 company can arrive at a conclusion as to "whether there happens to be any act inscribing an element of oppression and mismanagement." Owing to the aforesaid peculiar facts and circumstances, which were brought on record before the learned NCLT, the learned NCLT upon satisfaction recorded, that none of the parties would adversely suffer in an event if a Forensic Auditor is appointed to conduct the audit into the books/records/documents, and into the details of the assets of the Company, who would be thereafter submitting the report within a period of ....
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....er which is under challenge for the reasons attributed in the Company Appeal is bad in the eyes of law and that the instant Company Appeal may be kept pending before this Appellate Tribunal till the Respondents file their Counter to the Appeal. We are of the view that the directions issued by the learned Tribunal for conducting a forensic audit are not detrimental to the interest of either of the parties to the Company Petition, as it would facilitate arriving at a definite conclusion with regards to the veracity of the books of accounts, which would be the subject matter of consideration in the proceedings under Sections 241, 242 and 59 of the Companies Act, 2013, which as on today remains pending before the learned Adjudicating Authority.....
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....o being held under Sections 241 & 242 of the Companies Act, 2013, a specific finding has been recorded that, a forensic auditor has already been appointed and he has submitted his report, to which the petitioner of the Company Petition, (CP)(CA)/23(CHE)/2025, i.e., the Appellant herein had sought time to file reply/objection to the forensic auditors report. The relevant observation is extracted here under. "It is also informed that in that petition, Forensic Auditor has been appointed who has submitted his report. Ld. Counsel submits that the Petitioner herein intends to file objection on the report of the Forensic Auditor. In the present petition, in an interim relief, the Petitioner has prayed for an appointment of a Forensic Auditor.....