Case Law Details
Hari Sankaran Vs Union of India & amp (Supreme Court of India)
Civil Appeal No. 3747 of 2019 titled Hari Sankaran vs. Union of India & Others filed by Ex-Director of Infrastructure Leasing & Financial Services Limited before the Apex Court has been dismissed by the Hon’ble Court.
The Civil Appeal No.3747/2019 was filed by Infrastructure Leasing & Financial Services Limited (referred to as ‘IL & FS’) before the Hon’ble Supreme Court of India against the Order dated 31.01.2019 passed by the National Company Law Appellate Tribunal (NCLAT), New Delhi in Company Appeal (AT) No. 29 of 2019. Vide the said order, the Appellate Tribunal had dismissed the appeal filed by the appellant and had confirmed the order passed by the National Company Law Tribunal, Mumbai Bench (referred to as ‘Tribunal’) dated 01.01.2019 by which the learned Tribunal allowed the application filed by the Central Government under Section 130(1) & (2) of the Companies Act, 2013 and permitted recasting and reopening of the accounts of IL&FS, IL&FS Financial Services Limited and IL&FS Transportation Networks Limited for the last five years.
The Central Government had filed the said application with Ld. Appellate Tribunal as per Section 241 and 242 of the Companies Act on the ground of mismanagement by the Board of IL&FS and that the affairs of IL&FS were being conducted in a manner prejudicial to public interest.
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