Document Fragment View

Matching Fragments

7. The Company Law Board, by its order dated March 24, 1976, passed under s. 247 of the Act, appointed Shri Bansi Mehta, a chartered accountant, as an inspector for the purpose of carrying out the above-mentioned investigation. It appears that one of the Government directors, namely, Shri S. A. Aiyer, was not happen with this appointment. According to the petitioners, Shri Aiyar wrote a letter dated April 3, 1976, to Shri Dara P. Mehta protesting against the appointment of the said inspector. This was followed by the resignation of Shri Aiyar on June 1, 1976. In his place, the Company Law Board, on August 19, 1976, appointed Shri V. S. Jaitely as director of the company. In the meanwhile, Shri Bansi Mehta completed his investigation and submitted his report dated July 4, 1976.