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2017 (6) TMI 1368 - Tri - Companies LawOppression and mismanagement - provisional attachment orders of the shares of the Petitioner - Sec. 187 C (6) of the Companies Act 1956 and Sec.89(8) of the Companies Act, 2013 - HELD THAT:- It is on record that the Petition has been filed on 07.04.2017 and at that point of time, there was no legal bar as to filing of the Petition and the Petitioner fulfilled the requirements under section 244 of the Company's Act, 2013 as reflected from our order dated 13.04.2017. The order of attachment of shares of the petitioner and the issuance of notice to the Petitioner is dated, 19.05.2017 which is subsequent to the filing of the petition. It is also on record that the Competent Authority is yet to complete investigation to reach a final conclusion with regard to the status of the shares, i.e., whether or not the shares are falling within the purview of the benami property. Therefore, unless any final order is passed, to declare that the shares held by the Petitioner are falling within the purview of the benami property, the Petition cannot be thrown out on the ground that a provisional order for attachment of shares of the petitioner is passed by the Competent Authority. Considering the facts and circumstances involved in the case, as detailed in the petition, we are inclined to grant interim relief as prayed, and appoint Mr.S.Santhanakrishnan as Chartered Accountant and Mr.R.Sridharan as Company Secretary, whose names have been recommended by the Petitioner and direct them to undertake forensic audit of the state of affairs of the company including accounts-cum-banking and statutory compliance including Sales Tax, Excise, Customs, FEMA, Companies Act, GATT and other laws applicable and statutory records of RI company including the Income and Expenditure of Respondent No. 1. Application disposed off.
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