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2020 (3) TMI 1008 - AT - Companies LawOppression and mismanagement - sum and substance of the allegations in the Petition is that the Company has allotted shares at different premiums on different points of time; without proper notices, company meetings were convened; in the Auditor Report Financial irregularities were found and material information has not been supplied to Respondent Nos. 1, 2 & 3 (Petitioners) - HELD THAT:- From bare reading of this order it seems that the National Company Law Tribunal has appointed an Independent Chairman for interim arrangement till the investigation is completed by the Registrar of Companies and Principal Director of Income Tax (Investigation). However, the scope of enquiry time, for completing the enquiry and to whom the statutory authorities will submit the report, is not mentioned in the impugned order - The impugned order is passed on 22.03.2019, till date about 11 months has lapsed, but Learned Counsel for the parties are unable to apprise the present stage of investigation before the statutory authorities. Thus, in absence of clear directions, the statutory authority will not be able to complete the investigation. Matter remitted to National Company Law Tribunal with a request that after hearing the parties to pass fresh order without being influenced by this order.
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