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Supreme Court of India

Union of India and Another v. Deloitte Haskins and Sells Llp & Anr

Neutral citation
Reported as [2023] 5 S.C.R. 949
Bench M. R. Shah and M. M. Sundresh JJ.
Decided 3 May 2023

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

What the Court ordered

In view of the above, the appeals filed by the Union of India, viz., Criminal Appeal Nos. 2305-2307/2022; 2302-2303/ 2022; and 2300/2022 are allowed and Criminal Appeal Nos. 2298/2022, 2299/2022 and 2304/2022, as also, Civil Appeal Nos.793/2022; 801/2022 and 877/2022 filed by the Deloitte and its partners are hereby dismissed.

Judgment, page 67

From the headnote

Companies Act, 2013 – s.140(5) – Analysis and Interpretation of – Maintainability of proceedings u/s.140(5) after r esignation of the auditors – s.140(5) empowers the Tribunal (NCLT), ei ther suo motu or on an application made to it by the Central Government or by any person concerned, to take action against the auditor who has acted in a fraudulent manner or is abetting or colluding in fraud with the management of a company – If on completion of an enquiry it is found by the Tribunal that an auditor of a company has, whether directly or indirectly, acted in a fraudule nt manner or abetted or

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