Search Results for "Financial Irregularities"

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Supreme Court Upholds NCLAT Order in Insolvency Resolution Plan Approval Under Insolvency and Bankruptcy Code, 2016. Resolution Plan Found Compliant with Section 30(2) and Binding on All Stakeholders Despite Pending Creditor Claim Challenges.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016, against a judgment dated 4 January 2021 of the National Company Law App...

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High Court of Gujarat Upholds Disciplinary Action Against Chartered Accountant for Professional Misconduct in Bank Audit. Failure to Report Irregular Loans and Deficient Documentation Constitutes Negligence Under Section 21(5) of the Chartered Accountants Act, 1949.

This is a case reference under Section 21(5) of the Chartered Accountants Act, 1949, arising from a complaint by Smt. Prabha S. Prasad, General Manage...

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High Court Allows Writ Petition by Cooperative Society Against Ministerial Order Halting Inquiry Under Maharashtra Cooperative Societies Act - Restores Statutory Inquiry into Financial Irregularities by Former Directors

The High Court allowed a writ petition filed by Petitioner challenging an order passed by the Minister for Cooperation that halted a statutory inquiry...

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Bombay High Court Dismisses Borrowers' Writ Petitions Challenging SARFAESI Proceedings by Cooperative Bank — Alternative Remedy Under Section 17 of SARFAESI Act Held Efficacious. Petitioners Directed to Approach Debt Recovery Tribunal for Relief Against Recovery Actions.

The judgment concerns a batch of writ petitions filed by borrowers (Arun Dattatraya Narake and others) against the Authorized Officer of Kolhapur Dist...

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Bombay High Court Dismisses PIL Challenging MCGM Contract Awards in Public Interest Litigation. Court Finds No Irregularity in Tender Process and Upholds Validity of Contracts for Road Works.

The present Public Interest Litigation (PIL) was filed by Jayshree Ramakant Khadilkar Pande challenging the award of four contracts by the Municipal C...

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Supreme Court Dismisses Appeal by Suspended Director in IL&FS Accounts Reopening Case — Recasting Permitted Under Section 130 Companies Act. Court holds that SFIO and ICAI reports provide sufficient basis for reopening accounts and that suspended director lacks locus standi.

The case pertains to an appeal filed by Hari Sankaran, a suspended director of Infrastructure Leasing & Financial Services Limited (IL&FS), against th...

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Supreme Court Allows Appeal by Bank in Transfer Case — Transfer Order Restored with Alternative Posting Options. Allegations of Malafide Transfer Not Established; Bank's Administrative Exigency Upheld.

The case involves a senior officer of Punjab and Sind Bank, Mrs Durgesh Kuwar, who was appointed as a Probationary Officer in 1998 and promoted to Chi...