ORAL ORDER

The petitioner, a company incorporated under the Company Act challenges the communication issued by the respondent No.2/ Assistant General Manager, Corporate Finance Investigation Dept SEBI - appointing a Forensic Auditor to assist the investigating authority to conduct a forensic audit of the consolidated financial statement of the company for the financial years March, 31, 2018, March 31, 2019, March 31, 2020 and March, 31 2021 with Special focus on impairment of subsidiaries/wholly owned subsidized associate, loan and advances granted to the related parties and other entities etc.

2. A complaint was filed by respondents Nos.5 to 11 who are the shareholders of the petitioner- company with the Registrar of Companies on 8.5.2020 to investigate and specially audit into the affairs of the petitioner's company stating that petitioner's company has made an impairment loss provision of Rs.118.66 Crores for the financial year 2018-19 and other financial irregularities. Based on the complaint filed by the respondents No.5 to 11 with the respondents No.1 to 4 the Executive Director of SEBI vide order dated 28.9.2021 appointed respondent No.2 as investigating authority to investiga