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Judgment
Company Appeal (AT) No. 246 of 2023 has been filed by Sunil Tolaram Kukreja and Ors., wherein Respondent No. 1 is Saiom Developers Private Limited, assailing the order dated 12.09.2023 passed by the Ld. National Company Law Tribunal, Mumbai bench in CP(MB) No. 131 of 2023 wherein the Ld. NCLT had appointed KPRM & Co. as an independent auditor for conducting forensic audit of Saiom Developers Private Limited and its associate entities.
It was urged that the Ld. NCLT has erred in traveling beyond the scope of the company petition, failing to outline the scope of the forensic audit and ordering forensic audit of the associate entities of Respondent No. 1, which are not part of the company petition and has erred in not making out prima facie case for ordering forensic audit against the Appellants or the associate entities of the Respondent No. 1.
Company Appeal (AT) No. 246 of 2023 has been filed by Sunil Tolaram Kukreja and Ors., wherein Sonu Realtor Private Limited is Respondent No. 1, against the order dated 12.09.2023 passed by Ld. NCLT, Mumbai Bench in CP(MB) No. 127 of 2023 wherein similar objections as above (in para2) have been raised by the Appellants against the impugned order dated 12.09.2023.
During the course of hearing it was submitted by the Learned Counsels for the Appellants and Respondents that these appeals relate to family dispute between brothers and they will be satisfied if statutory audit of the two companies, namely, M/s Sonu Realtor Private Limited and M/s Saiom Developers Private Limited, is done by an independent auditor. The Learned Counsels for the Appellants and Respondents exchanged the names of some Chartered Accountants for the purpose of audit but could not agree to name of any statutory auditor, and later through IA No. 6882 of 2024 and 6883 of 2024 have requested this Tribunal to appoint an independent statutory auditor.
I.A. No. 6883 of 2024 in Company Appeal (AT) No. 246 of 2023 has been filed by the Applicant (Mohan Tolaram Kukreja, Respondent No. 2 in the Appeal) stating therein that Mr. Rakesh R. Agarwal & Associates was appointed as Auditor who acted in highly unilateral and arbitrary manner and an independent statutory auditor be appointed by this Tribunal to complete the statutory audit for the pending years of the Respondent No. 1 company M/s Saiom Developers Pvt. Ltd.
I.A. No. 6882 of 2024 in Company Appeal (AT) No. 247 of 2023 has beenfiled by the Applicant (Mohan Tolaram Kukreja, Respondent No. 2 in the Appeal) stating therein that accounts of the Respondent No. 1 company M/s Sonu Realtor Pvt. Ltd. have not been audited/finalized for Financial Year 2021-22, 2022-23 and 2023-24 which is in contravention of Section 129 and 143 of the Companies Act. It was prayed to appoint an independent statutory auditor to complete the statutory audit for the pending years.
The Learned Counsel for the Appellants had submitted copy of order No. Mum/Pr.CCIT/Co-ord/U-II/Empanelment/2022-23 dated 20.03.2023 of Pr. Chief Commissioner of Income-Tax, Mumbai giving the list of 82 Chartered Accountants empanelled by the Income Tax department for conducting special audit under the provisions of Income Tax Act, 1961. Utilising this list of empanelled Chartered Accountants, we nominate the following Chartered Accountant Firm for statutory audit of M/s Sonu Realtor Private Limited for Financial Year 2021-22, 2022-23 and 2023-24.
Name of the
PAN
Address
Contact No.
Applicant
M.A. Shah &
AABFM0309D
101 B & C Joly
22624733/35
CO.(CA
Bhawan-2, Opp.
Nirmala
Niketan
College
New
Marine
Lines
Mimbai-400020
Utilizing the said list, we nominate the following Chartered Accountant Firm for statutory audit of M/s Saiom Developers Private Limited for Financial Year 2022-23 and 2023-24.
Name of the
PAN
Address
Contact No.
Applicant
Talati and Talati
AAAFT4520A
Unit No. 625, 6th
9824059005
LLP
Floor,
the
Summit
Business Bay,
Near Weh Metro
Station, Off
Andheri Kurla
The Appellants and the Respondents shall cooperate with the auditor(s) and ensure that statutory audit is completed within three months from the date of this order. The companies M/s Sonu Realtor Private Limited and M/s Saiom Developers Private Limited shall bear the respective costs of the statutory audit and other expenses related to it.
With the above directions both the I.A. No. 6882 of 2024 and 6883 of 2024 are allowed. The rights and contentions of the Appellants and Respondents are to be kept open in the proceedings under Section 241 and 242 of the Companies Act, 2013 pending before the Ld. NCLT, Mumbai. The impugned orders qua forensic audit are thus set aside. Both the appeals viz. Company Appeal (AT) No. 246 of 2023 and Company Appeal (AT) No. 247 of 2023 along with I.A. Nos. 6883 and 6882 of 2024, are disposed of. All pending applications are also disposed of.