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TMI Blog2025 (3) TMI 853X X X X Extracts X X X X X X X X Extracts X X X X ..... MENT (PER DR. NEELA GOKHALE, J.) 1) The Petitioner essentially assails the forensic report dated 9th August 2023 prepared by the Respondent No. 2-BDO India LLP, a Chartered Accountant's Firm. According to the Petitioner, the Respondent No. 2-Firm is appointed by the Respondent No.1-Bank of India to conduct a forensic audit of the Respondent No. 3-Company, which is currently under the Corporate Insolvency Resolution Process ('CIRP'). The Petitioner is an erstwhile director of the Respondent No. 3-Company (now under suspension) 2) By order dated 25th September 2023, the Petitioner was granted leave to amend the prayer clause, to challenge the show-cause notice dated 17th August 2023, issued by the concerned Committee of the Respond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kamath, learned Senior Counsel appearing for the Petitioner insists that the FAR itself be set aside on the ground that the forensic report on the basis of which the show-cause notice was issued was inconsistent and based on incomplete information. He says that the Respondent No. 3-Company of which the Petitioner was a promoter is under the CIRP and hence, the Resolution Professional ('RP') is seized with the documents of the company. The Respondent No. 3-Auditor's firm thus, has no access to all the relevant documents and accounts and the FAR is obviously based on incomplete statements and documents. Mr. Kamath further submits that the FAR is merely tentative considering the absence of books of accounts and underlying the supporting docume ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... compliance with the Master Circular for the time being in force, issued by the Reserve Bank of India and the decisions of the Apex Court in the matters of State Bank of India v. Rajesh Agarwal (2023) 6 SCC 1 and State Bank of India v. Jah Developers (2019) 6 SCC 787 followed by this Court in the matter of Milind Patel v. Union Bank of India 2024 SCC OnLine Bom 745. 8) The Petition stands disposed off in above terms with Interim Application therein. 9) It is made clear that we have not gone into the merits of the challenges in the Petition and as such, all contentions of all the parties are kept open for them to agitate in appropriate proceedings before the appropriate forum. 10) All parties to act on an authenticated copy of this order. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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