submitted by the
petitioners and without furnishing the copy of the forensic audit report, the 1st
respondent passed the order declaring the petitioners as wilful ... further submission of the learned counsel that the copy of the
forensic audit report has not been provided to the petitioners so as to enable
directing the respondent bank
to provide the petitioner the copy of forensic audit report before
passing any order pursuant to the show cause notice dated ... direction to the
respondent bank to provide a copy of the forensic audit report before
passing final orders pursuant to the show cause notice issued
property obtained loan from
New India Co-operative Bank.
d) A forensic audit was carried out/conducted by the RP in terms of
Section ... behalf of the 1 st petitioner company.
It was submitted that Forensic Audit Report (hereinafter referred as “FAR”)
is irrelevant to present writ petitions which
basis of a Forensic Audit. However, materials,
which were taken into consideration in the Forensic Audit, which resulted in
arriving at the above findings were ... sister concerns/EPC contractors without
valid commercial reasons. Based on the Forensic Audit report, the case of the
companies as well as its Directors were
basis of a Forensic Audit. However, materials,
which were taken into consideration in the Forensic Audit, which resulted in
arriving at the above findings were ... sister concerns/EPC contractors without valid
commercial reasons. Based on the Forensic Audit report, the case of the
companies as well as its Directors were
Stock
Verification Audit, Transaction Audit and ASM report. It is the averment of the
petitioner that the Transaction Audit Report, relied ... forensic audit,
the Forensic Auditor had informed that there was no instructions from the CoC to
share the forensic audit report with the petitioner
that the finding of the said FTI Report was
not on scientific basis as no forensic audit was done. The Arbitral
Tribunal having not found ... over claim, and also did not order for a forensic audit for
preparing an independent Report.
57. It was therefore submitted that the Arbitral Tribunal
Report.
(11)In the report, the 2nd respondent stated that the Resolution Process is at
the advanced stage. It is also stated in the report ... pointed out several irregularities
against the petitioner after a Forensic Audit and the report of the Auditor.
(12)In the counter affidavit
Forensic Auditors were appointed to carry out
Transaction Audit and they had observed certain unusual
indicators/irregularities related to different transactions in their Report ... fictitious transactions with parties related amongst
themselves.
iv) On receipt of the Forensic Reports, the commission of
fraud/misappropriation by the Companies and diversion
Ravi Parthasarathy vs State Rep. By
Author: M.Dhandapani
Bench: M.Dhandapani
____________
CRL. O.P
