TMI Blog2018 (2) TMI 1618X X X X Extracts X X X X X X X X Extracts X X X X ..... al is allowed. The impugned order is quashed and set aside. Consequently, subsequent actions taken on the basis of Impugned Order would not survive. Matter is remitted back to NCLT. - Company Appeal (AT) No. 340 of 2017 - - - Dated:- 23-1-2018 - Mr. A.I.S. Cheema And Mr. Balvinder Singh, JJ. For The Appellant : Shri Soaumik Ghosal with Shri Gaurav Singh, Advocates For The Respondent : Shri S. Gowthaman and Ms. M. Venmani, Advocates And Shri Ramakrishnan Viraraghavan, Senior Advocate with Ms. Uttara Babbar, Advocate ORDER Counsel for the appellant seeks pass-over. Later on 2. The appellant (Original Respondent No. 6) in TCA/11/2016 (Company Petition No.64 of 2006 in Company Law Board) has filed this appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch in a detailed order dated 20.01.2017. In the circumstances, Mr. R. Aghoramurthy, Chartered Accountant is relieved of his duties. The parties are directed to give names of three independent Chartered Accountants to this Bench for appointment of one among them in order to complete the assignment that was specified by the CLB vide its order dated 25.02.2009. The parties shall submit the names within one weeks. Matter is posted for further hearing. Put up on 11.08.2017 at 10.30 A.M. 2. Learned counsel for the appellant and Respondents Nos. 1 and 2 have been heard. It is pointed out that the Company Law Board (CLB in brief) vide order dated 25th February, 2009 had initially directed investigative audit. The relevant important paragraph ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re it is suffice if the appointed Chartered Accountant is directed to scrutinize the books of account and vouchers and other concerned records of the company and make an interim report on his findings about the various transactions and submit the interim report in a sealed cover to this Court on or before 11.6.2009. Such course of action will not cause any prejudice to the rights of the appellants herein pending consideration of the appeal before this Court. 4. It is hereby made clear that the Chartered Accountant shall not part with the interim report to the parties in the appeal. In view of the orders of this Court, there shall be an order of interim stay of the order dated 25.2.2009 passed by the Company Law Board till 22.6.2009. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... satisfied and although it appears from the order of the CLB that it had not clarified anything as regards Connected Parties , the NCLT was of the view that the shareholders should have been heard. It passed certain orders on 20th January, 2017. Learned counsel for Respondent No. 2 is pointing out that the application of the appellant for execution of the Investigative Audit Report was rejected by the NCLT by order dated 3rd July, 2017. 7. The NCLT has subsequently passed the present impugned order and the same has been challenged. We find that when the Auditor converted his Investigative Audit Report into the final report, without going into the merits of the report and without setting the same aside, the present impugned order call ..... X X X X Extracts X X X X X X X X Extracts X X X X
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