New Delhi: In the recent Antrix-Deva assessment, SC decided that the company’s winding process with fraudulent land cannot be stopped by shareholders by citing reports from CAS or auditors who give CHIT or report any non-discovery of fraud during the period What is meant is.
SC argument junked gods and shareholders who since the 2012 Auditor Report, 2016, 2017 and 2020 are certified that “no fraud on or by the company has been considered or reported during the audit”, Antrix-Dexas Agreement was stopped not by fraud reasons.
“The auditor’s report cannot be considered as the truth of the gospel or acting as an estoppel against the company,” said the court.
Writing Assessment, Justice V Ramasubramanian, part of the bench consisting of Haktice Hemtta Gupta, “Accountants / Auditors Chartered is not an expert in criminal law or in technology that forms agreement lessons between Antrix and Dex.
The CAS statement always qualifies with certain riders like ‘In accordance with the information and the explanation given to us in our audit journey’ or ‘as far as our knowledge and belief and in accordance with the information and explanation given to us.’.
“The bench added,” The Auditor’s statement in accordance with the information provided to They or according to the information played to be the best of their abilities.
” SC said the CBI registered FIR for violations based on Section 420 read with the IPC 120B section on March 16, 2015, almost four years after termination of an agreement.
“Antrix officers and government officials were also involved in the FIR for violations under the prevention of the Corruption Court, by 1988.
Therefore, the applicants cannot regulate the application of Estoppel on the reasons in 2011 are not on land land, when the discovery of fraud Own years later, “he said.
It also refused the request against the wind on the ground that even during the ICC arbitration process, Anriax had not taken a request for fraud.
The bench said, “The proceedings of the arbitration began in 2013 and the award itself was passed on September 14, 2015.
Antrix could not be expected to request fraud in the arbitration process, even before the discovery of fraud.” The attention of the argument of ASG N Venkataran that all DEWA shareholders have been arranged as accused by CBI in criminal cases.
But the CBI can’t even serve calls on them, he said.
Bench said, “People who avoid calls in criminal prosecution, cannot be heard to compete, they must be heard in the petition for winding.
Take advantage of their citizenship / residence abroad, shareholders demand the process for law enforcement (I ) ICC Arbitration Tribunal Award in India; and (ii) Bit Awards abroad, even when making it impossible for CBI to serve calls for five years.
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