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2020 (10) TMI 272 - Tri - Companies LawAppointment of independent forensic auditor - HELD THAT:- After perusing the case records including the Order passed earlier on 17.01.2020 and 17.02.2020, the interim counter filed by the respondents, particularly the report of the Advocate Commissioner and the counter filed by the respondent Company against the Report, this Bench is of the view that the petition was filed under Section 241 and 242 of Companies Act and the reliefs sought for can only be available under the same sections of the Companies Act and cannot be granted under Arbitration and Conciliation Act. This Tribunal pass the following order: I. While considering the present situation to meet the ends of justice, this Tribunal allows the appointment of an Independent Forensic Auditor to complete the auditing work within 60 days from the date of appointment of the auditor by this Bench. II. It is also directed to constitute an audit committee consisting of two directors from the Petitioner's side and two from the Respondent's side other than Respondent No. 2 for helping and co-operating in completing the independent audit. III. The costs of the forensic auditor should be borne by both the parties equally. It is also directed both the parties to suggest the list of persons to perform as an Independent Forensic Auditor before 19.06.2020. List the Company Petition on 22.06.2020, for suggesting list of auditors by both the parties.
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