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2020-TIOLCORP-21-HC-MUM-CA
N Sampath Ganesh Vs UoI
Whether sec 140(5) dealing with removal or change of auditors in case of fraud is unconstitutional - NO : HC
Whether section 140(5) is remedial and regulatory in nature, but can not apply to auditors who have already resigned - YES : HC
Whether CAs who defrauded company and resigned though can not be amenable to section 140(5) but can always be tried for professional misconduct under Chartered Accountants Act - YES : HC
Whether NCLT is empowered to debar or disqualify or punish CAs and inquire into professional misconduct - NO : HC
Whether there is nothing in sec 212 to demonstrate that interim report u/s 212(11) can not be investigation report and there is nothing in sec 212(14), which prohibits Central Government from considering it - YES : HC
Whether alternate remedy of NCLAT does not bar consideration of controversy by exercise of writ jurisdiction, court can decide issues on merits - YES : HC
Whether directors of any Company or its officers form distinct class of people and chartered accountant stands on entirely different footing and can not be seen as officer of company under companies act - YES : HC
- Writ petition partly allowed: BOMBAY HIGH COURT
2020-TIOLCORP-47-NCLAT
Liberty House Group Pte Ltd Vs State Bank Of India
Whether non-implementation of resolution plans that attracted, issuance of order of liquidation of corporate debtors earlier can be reversed if resolution plan is complied with later on - YES : NCLAT
- Order passed in favour of appellant: NCLAT |
