S.No.2 IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH – 1 ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

06-09-2023 AT 10:30 AM IA (CA) 69, 100 & 101/2022 in CP No.385/241/HDB/2019 u/s. 241 of Companies Act, 2013 IN THE MATTER OF:

Zetatek Technologies Pvt Ltd & 2 others …Petitioner VS Gagan Aerospace Ltd & 15 others …Respondent C O R A M:-

DR. VENKATA RAMAKRISHNA BADARINATH NANDULA, HON’BLE MEMBER (JUDICIAL)

SH. CHARAN SINGH, HON’BLE MEMBER (TECHNICAL)

O R D E R

Learne Counsel Mr. S. Chidambaram, for the Petitioner, Learned Counsel Mr. Y. Suryanarayana, for Respondent No. 2 to 4 and Learned Counsel Mr. N. Narasimha Sarma, for Respondent No.14 and 15 present. Matter adjourned to

17.10.2023.

IA (CA) 101/2022 This application is filed for cross examination of 15 Respondents, for the reasons that (1) R2, R3, R4 denied all the allegations, (2) R5 & R6 contended, that allegations are not related to them, (3) R5, R6, R7 to R11, R13 adopted reply of R2 (4) R14 and R15 Practicing Company Secretary who have certified form filed by R1 and (5) R16 denies his hand in oppression and mis management.

We are not satisfied with the reasons on the basis of which applicants have sought for cross examination of such large number of Respondents. Mere denial of allegations does not confer any right on applicant to seek relief for cross examination of respondents. Therefore, we do not find any tenable ground for allowing the relief sought for in this application. In view of this the IA/101/2022 is dismissed and disposed of with a cost of Rs 5,000/- payable to the Prime Minister Relief Fund within 3 days from the date of this order and file compliance.

IA (CA) 100/2022 This application is filed for seeking relief of Forensic Audit on the Records of the R1 Company from the year 2013-14 to 2018-19 for the reasons that (1) R2, R3, R4 denied all the allegations, (2) R5& R6 contended, that allegations are not related to them, (3) R5, R6, R7 to R11, R13 adopted reply of R2 (4) R14 and R15 Practicing Company Secretary who have certified form filed by R1 and (5) R16 denies his hand in oppression and mismanagement. We have gone through the application and find that no specific reasons have been given for seeking Forensic Audit except the reasons as mentioned above.

In the cases filed under section 241, 242 of Companies Act, 2013, for oppression and mismanagement, the burden to adduce proper evidence with cogent material to prove his case is by and large with the petitioners and such type of relief may be asked only in the cases where compelling circumstances are put before the tribunal to seek order for forensic audit. We are not satisfied with the reasons based on which the Forensic Audit has been sought. In fact, we did not find any reason based on which this prayer has been made except that the respondents have denied allegations. We decide not to allow the prayer as it will lead only of roving enquiry into the affairs of Company. Hence, we reject the prayer and the IA/100/2022 is dismissed and disposed of with a cost of Rs 5,000/- payable to the Prime Minister Relief Fund within 3 days from the date of this order and file compliance.

IA (CA) 69/2022 This application is filed for seeking direction from this Tribunal to produce several original documents along with soft copy of tally accounting package for the Financial Years 2013-14, 2014-15 and 2015-16. We observe that the same relief is sought in the main Petition also as Interim Relief and also the same issue has already been dealt with in IA No.22/2023, in which the order has been passed on 31.08.2023, with a cost of Rs. 25000.00 on petitioner. In view of the repeated applications filed for the same cause, we dismiss this application and the IA/69/2022 is dismissed and disposed of with a cost of Rs 5,000/- payable to the Prime Minister Relief Fund within 3 days from the date of this order and file compliance.

Sd/- Sd/-

MEMBER (T) MEMBER (J)