TaxTMI 
TaxTMI 
TaxTMI 
2025 (3) TMI 1615
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....re had been various other ancillary reliefs, which had been sought for by the Petitioners/Appellants in the Company Petition. 2. One of the prime grounds, which has been taken by the Appellant, while contesting the proceedings, was that the contents of most of the documents, which turned the basis of the impugned order were fraudulent documents. These documents were required to be tested in accordance with the law of evidence, and the prime contention qua those documents, which had been taken into consideration or relied by the respective party to the proceedings, were considered by the Learned Tribunal, while recording its finding in para 11 of the impugned judgment in relation to the pleading raised by the Petitioner/Appellant herein. The proceedings were contested to the hilt by the Respondent by filing an objection, when at the stage of the proceeding of the Company Petition itself, the Petitioner/Appellant had preferred an IA, being IA No.96/KOB/2020. By virtue of the said Interlocutory Application, which was preferred by the Appellant, in fact, the Appellant has prayed for the following reliefs: - "In view of the above, it is most humbly prayed that this Hon'ble T....
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....laying fraud. 5. In order to attain the legislative objective as contained under Section 424 of the Companies Act, 2013, where the basic framework aims for the adherence of the Principle of Natural Justice and for the aforesaid purpose, the provisions contained under CPC, in principle are to be made applicable. Acting under the provisions contained under the Companies Act. The Government while exercising its powers under Section 469 of the Companies Act, had framed the rules called as the NCLAT Rules of 2016. The Rule 43 of NCLAT Rules confers an exclusive power with the bench or the Tribunal to call for further information or evidence, which may be necessary for the purposes of an effective adjudication of the case or which could facilitate the Tribunal to exercise its jurisdiction effectively in order to enable the parties to the proceedings to produce further documents or to lead their evidence. Rule 43 of the NCLT Rules reads as under:- "43. Power of the Bench to call for further information or evidence. - (1) The Bench may, before passing orders on the petition or application, require the parties or any one or more of them, to produce such further document....
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....LT. The said interlocutory application remained pending, and while conducting a proceeding at the final stage, the Learned Tribunal, while recording its finding in para 34, has only made a passing observation that, the IA No.96/KOB/2020 was filed in this Company Petition for ordering production of the original documents, while considering the provisions contained under Rule 43 of NCLT Rules, the Learned Tribunal had failed to observe and consider that the actual relief, which was prayed for by the Applicant/Petitioner, in the said application apart from production of the additional documents, which falls to be within the ambit of Rule 43 of the NCLT Rules. Simultaneously the Appellant had prayed for that aforesaid documents mentioned in the application after being summoned may be sent for its Central Forensic Audit in order to test its genuineness, based upon which the Respondent had based its case to deny the relief prayed for by the Appellant/Petitioner in the proceedings of the Company Petition before the Learned NCLT. It was argued by Respondents that the observation which has been made in para 34 & 35 of the impugned order, that in fact the Learned Tribunal did place reliance ....
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....39;Professional Fee' to the 'Unsecured loan' and also the shifting of Registered Office of the Company. The effect of the increase in the share capital or allotment of the same to any person has an automatic effect, i.e., it results in the alteration of the register of members. Any dispute in respect of rectification of the register of members under Section 59 can be raised by any person aggrieved to the Board. But in the present case, the petitioners have not proved the mismanagement in issuance of share, therefore, rectification of share cannot be ordered. It is also not the case of the Petitioners that the Board Meetings pertaining to the Right issue shall be declared a null and void by the Tribunal nor the Petitioners have sought cancellation of the resolutions passed in the said Board Meetings. The petitioners aver that all the copies produced by the Respondents in relation to the Notices, attendance and Minutes of Board Meetings and Annual General Meetings are forged. But in such a case also, the petitioners have not prayed for any forensic investigation of signatures. In absence of any prayers being sought by the petitioners no such relief can be granted by this ....
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....gned order, will itself amount to be consideration on merit, qua the pleading raised by the Appellant/Petitioner pertaining to the propriety of those documents, which he has specifically pleaded in the proceedings, that those documents as relied by the Respondent in opposition to the relief sought by the Appellant in the Company Petition were fraudulently procured document, and all these documents required to be tested by the Forensic Audit. 10. Those findings, which have been recorded by the Learned Tribunal, does not justify the test provided by Section 424 of the Companies Act, 2013, to be read with Rule 43 of the NCLT Rules, for the reason being that when any party to the proceedings moves a particular application so as to justify or to oppose the stand taken by the other party to the proceedings, it becomes mandatory rather a judicial duty on part of the Learned Tribunal to be discharged, to have either considered or rejected the contention raised by the Appellant in its IA/96/KOB/2020. By making a passing observation and which has been referred to by the Learned Counsel for the Respondent, particularly while drawing the attention of this Tribunal to para 44 & 45 of the Jud....