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2023 Supreme(SC) 463

M. R. SHAH, M. M. SUNDRESH
Union of India – Appellant
Versus
Deloitte Haskins and Sells LLP – Respondent


Advocates appeared:
For the Parties : Ms. Misha Rohatgi, AOR Ms. Suveni B., Adv. Ms. Ayushi Sharma, Adv. Mr. Nakul Mohata, Adv. Mr. Bharat Monga, Adv. Mr. Devansh Shrivastava, Adv. ms. Riya Dhingra, Adv. Mr. Mohd. Ovais, Adv. Mr. Mahesh Agarwal, Adv. Mr. Rishi Agrawala, Adv. Mr. Rahul Dwarkadas, Adv. Ms. Prachi Dhanani, Adv. Ms. Rishika Harish, Adv. Ms. Niyati Kohli, Adv. Ms. Juhi Bahirwani, Adv. Mr. Pratham Vir Agarwal, Adv. Ms. Rohini Jaiswal, Adv. Ms. Manavi Agarwal, Adv. Mr. E. C. Agrawala, AOR Mr. Tushar Mehta, SG Mr. Balbir Singh, A.S.G. Mr. Aditya Sikka, Adv. Mr. Naman Tandon, Adv. Mr. Samarvir Singh, adv. Mr. Kanu Agarwal, Adv. Mr. Vikash Jha, Adv. Vasudha Vijayshree, Adv. Ritu Anand, Adv. Pratyush Srivastava, Adv. Ms. Sansriti Pathak, Adv. Ms. Bani Dikshit, Adv. Mr. Arvind Kumar Sharma, AOR Mr. Chandra Prakash, AOR Ms. Anannya Ghosh, AOR Mr. Mahesh Agarwal, Adv. Mr. Rishi Agrawala,, Adv. Mr. Rahul Dwarkadas, Adv. Ms. Prachi Dhanani, Adv. Ms. Rishika Harish, Adv. Ms. Niyati Kohli, Adv. Ms. Juhi Bahirwani, Adv. Mr. Pratham Vir Agarwal, Adv. Ms. Rohini Jaiswal, Adv. Ms. Manavi Agarwal, Adv. Mr. E. C. Agrawala, AOR Mr. Aaditya Aniruddha Pande, AOR Mr. Sachin Patil, AOR Ms. Misha Rohatgi, AOR

Table of Content
1. overview of civil and criminal appeals (Para 1)
2. background of financial issues in il&fs (Para 2)
3. arguments by union of india regarding misinterpretation (Para 3)
4. counterarguments from bsr (Para 4)
5. court's observations on section 140(5) (Para 5)
6. enforcement of section 140(5) procedures (Para 6)
7. legal framework and audit accountability (Para 8 , 9 , 10)
8. final decisions and orders (Para 16 , 17)

JUDGMENT :

Appeals under consideration:

1.1 Criminal Appeal Nos. 2305-2307/2022, Criminal Appeal Nos. 2302-2303/2022 and Criminal Appeal No. 2300/2022 have been filed by the Union of India, inter alia, challenging the common judgment and order dated 21.04.2020 passed by the High Court of Bombay in Writ Petition Nos. 4144 & 4145 of 2019 and other companion writ petitions, by which the High Court, though upheld that Section 140(5) of the Act, 2013 is not unconstitutional, has set aside the direction under Section 212(14) of the Act, 2013 dated 29.05.2019 issued by the Union of India to the Serious Fraud Investigation Office (SFIO) and consequently set aside the prosecution lodged by the SFIO vide Criminal Complaint No. CC 20/2019 on the file of Special Court ( COMPA


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