SHAPRE INFOTECH INDIA LTD Vs. T KANNAN

JUDGEMENT

(1.) In this intra Court Appeal, Appellants challenge the order in Company Application No.744 of 2010 whereby the learned single Judge dismissed the Application holding that the letter dated 30.10.2009 sent by the auditors is in consonance with the direction issued by the Division Bench in the order dated 17.04.2009 in OSA.No.71 of 2009.

(2.) Respondents 1 to 3 are the shareholders in the first Appellant company. Alleging that the affairs of the company is not properly managed and that the shareholders are kept in darkness, Respondents 1 to 3 have filed Company Petition in C.P.No.198 of 2007 under Sec.237(a)(ii) of Companies Act, 1956 read with Rule 11(9) of Companies (Court) Rules, 1959. In the Petition, Respondents 1 to 3 prayed for declaration that the affairs of the first Appellant company ought to have been investigated by the Inspector or Inspectors appointed by the Central Government and to give further directions to the Central Government to appoint as many Inspectors as required to investigate into the affairs of the first Appellant company.

(3.) By the interim order dated 10.12.2008, the learned single Judge appointed the auditors Annamalai Associates - 4th Respondent for verification of the correctness of accounts of the first Appellant company for the years from 2004 to 2007 and to submit a report.