KARVY STOCK BROKING LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) Both the writ appeals are arising out of a common Order and as the issue involved in both the writ appeals is one and the same, they are being disposed of by this common order.

(2.) The present writ appeals are arising out of a common order dated 26/08/2020, passed in W.P.Nos.5024 and 8997 of 2020 by the learned Single Judge dismissing the writ petitions.

(3.) The facts of the case reveal that the appellant/ petitioner is a company registered under the Companies Act with the Registrar of Companies, Hyderabad and its main object is to carry out the business as a registered stock broker and a depository participant. The undisputed facts of the case reveal that the second respondent/ Director General, Ministry of Corporate Affairs, through its Joint Director in exercise of powers conferred under Section 212(1)(a) and (c) of the Companies Act, 2013 ordered investigation into the affairs of the appellant company, vide Order dated 27.02.2020 and in pursuance of the Order dated 27.02.2020, the investigation officer issued notice dated 16.06.2020 under Section 217 of the Companies Act calling for certain information and vide communication dated 19.06.2020 intimated the appellant company to strictly comply with notice under Section 217 of the Companies Act with default clause. The appellant company preferred a writ petition i.e., W.P.No.5024 of 2020 challenging the Order, dated 27.02.2020 passed by the second respondent under Section 212(1) (a) and (c) of the Companies Act, and filed another writ petition i.e., W.P.No.8997 of 2020 challenging the notices dated 16.06.2020 and 19.06.2020, issued under Section 217 of the Companies Act.