NCLT Cannot Mandate Shareholder to Submit Statement of Affairs in Winding-Up Proceedings

K.N. Abdul Gafoor Vs Kasmisons Builders Pvt. Ltd (Kerala High Court) Introduction: The Kerala High Cout recently ruled on the case of K.N. Abdul Gafoor Vs Kasmisons Builders Pvt. Ltd, challenging an order from the National Company Law Tribunal (NCLT). The tribunal had directed the petitioner, a shareholder, to produce a statement of affairs in a winding-up proceeding. The crux of the challenge lies in the interpretation of Section 274(1) of the Companies Act, 2013, which governs such matters. Detailed Analysis: The petitioner argued that Section 274(1) allows the tribunal to direct a company, ...