2026 (4) TMI 443

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e ORDER Oral Judgment : Justice Sharad Kumar Sharma, Member (Judicial): The aspect of investigation into the affairs of the Company, is prescribed under the statute as per the provisions contained under Section 213 of the Companies Act, 2013, which constitutes of two parts, under its Clause (a), it pertains to the Applications, where the Tribunal may exercise it's power, on an application made as per Section 213(1)(a)(i) and (ii), subject to the satisfaction of the conditions given under sub-clause (a) for the purposes to direct the investigation into the affairs of the Company. 2. The issue with which we would be concerned, would be the issue of preference of an Application by invoking provisions contained under sub-clause (b) ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ince its institution on 28.09.2023, and when the matter was taken up before the Ld. Tribunal on 06.11.2024, a preliminary objection was raised with regards to the propriety of the maintainability of the Application itself at the behest of the Applicant and accordingly, the Ld. Tribunal had passed an order on 06.11.2024, that for the purposes of considering the Application under Section 213(b), the Applicant will have to first establish his locus by filing of an Affidavit in that regard, to sustain the Application to be considered on its own merits. Relevant part of order dated 06.11.2024 is extracted hereunder: " .... This is an Application filed by Mr. N. Mohanraj whose locus has not been established for filing Applicatio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... reasons are required to be recorded by the Ld. Tribunal to justify passing of the order of investigation into the affairs of the Company. 8. Secondly, it has been argued by the Ld. Counsel for the Appellant, that in the light of the order passed by the Ld. Tribunal on 06.11.2024, which records the preliminary objection raised by the Appellant, with regards to the aspect of maintainability of the Application preferred by the Respondent, the said issue was required to be considered and addressed by the Tribunal before taking a call on the Application on its merits and that, it was necessary for the Ld. Tribunal to have considered the locus of the Appellant and then only it ought to have proceeded to pass an order on merits of the Applicat....