The court ruled that a forensic audit extension lacked justification, affirming the need for compelling evidence for modifying prior orders.

IN THE NATIONAL COMPANY LAW TRIBUNAL, BENGALURU BENCH

[Through Physical hearing/VC Mode (Hybrid)]

ITEM No.20

C.A.No.72,91,97,98/2022, I.A.(C.A.) No.13/2022,

43/2024, 133/2025, 161/2025 in

C. P. No.88/BB/2021 IN THE MATTER OF:

Mr. Tono Thomas … Petitioner

Vs.

M/s. Nowon Technologies Pvt. Ltd. … Respondent

Petition under Section 241-242 of CA, 2013

Order delivered on: 29.09.2025

CORAM:

SHRI SUNIL KUMAR AGGARWAL

HON’BLE MEMBER (JUDICIAL)

SHRI RADHAKRISHNA SREEPADA

HON’BLE MEMBER (TECHNICAL)

PRESENT:

For the Petitioner : Ms. Shivani P Murthy

For the R-No-1 to 3 : Shri A Murali with Shri K M Vishakh Nag

For the R-No-4 to 7 : Shri Ajai P Johnson

For the R-No-8 : Ms. Tamarra Sequeira

ORDER

1. Heard the Ld. Counsel for the parties.

2. C.A.No.161/2025

The application of petitioner seeking extension of period of forensic audit is

dismissed vide separate order

3. List on 14.11.2025 for hearing arguments on C.A.No.97/2022,

C.A.No.98/2022, I.A.(C.A.) No.13/2022, C.A.No.43/2024,

C.A.No.133/2025. Interim Order to continue till then

-Sd- -Sd-

RADHAKRISHNA SREEPADA SUNIL KUMAR AGGARWAL MEMBER (TECHNICAL) MEMBER (JUDICIAL)

PS

IN THE NATIONAL COMPANY LAW TRIBUNAL BENGALURU BENCH (Hearing conducted through Hybrid mode)

In C.P. No.88/BB/2021 Under rule 11 of the National Company Law Tribunal Rules, 2016 Read with Section 242 and 447 of Companies Act, 2013 IN THE MATTER OF

1.Tono Thomas

12A, Express Estates, Kaloor, Cochin-682016 --- Applicant Versus

1. Nowon Technologies Private Limited, Flat No. C1, Block I, Rama Residency, Rama Temple Street, New Thippasandra, Bengaluru - 560075 And 7 others --- Respondents Order delivered on: 29.09.2025 CORAM: 1. Hon’ble Shri Sunil Kumar Aggarwal, Member (Judicial)

2. Hon’ble Shri Radhakrishna Sreepada, Member (Technical)

PRESENT:

For Applicant/Petitioner : Ms.Maithreyi Bhat For Respondent No.1 to3: Shri Murali.A For Respondents NO.4 to7: Shri Saji.P.John

O R D E R

Per RADHAKRISHNA SREEPADA, MEMBER (Technical):

1. The present Company Application is filed on 12.09.2025 by Mr. Tono Thomas (hereinafter referred as “Applicant”) under Rule 11 of NCLT Rules, 2016 read with Section 242 & 447 of Companies Act, 2013 against Nowon Technologies Private Limited and 7 others (hereinafter referred as “Respondents”) inter-alia seeking to extend the period of forensic audit to cover earlier years i.e., FY 2007-08 to FY 2016-17 in modification of the order dated 07.11.2024 in the interest of justice.

2. Facts of the case mentioned by the Applicants in this application are as under:

a. The petition was filed raising several grounds pointing at the oppressive acts committed by Respondents No. 1 & 2 as well as their mismanagement of the Respondent No.1 Company. This Tribunal granted interim order dated 03.12.2021 directing the Respondents to maintain status quo with regard to the shareholding pattern and composition of Board of Directors of the Respondent No. Company. In the said interim order further directed that the Respondents shall not draw more than one lakh per month from the accounts of the Respondent No.1 Company except in the usual course of business, until the next date of hearing. The said interim order dated 03.12.2021 was extended from time to time by this Tribunal and is still in force as on date of this application.

b. The Petitioner has filed an interim application C.A No.72 of 2022 with regard to fraudulent financials for the year ended 31.03.2021 filed by the Respondents and also I.A No.91 of 2022 seeking forensic audit of the Respondent for the year 2007 to 2022. The contents of the petition, C.A No.72 of 2022 and also in I.A No.91 of 2022 may read as part and parcel of this application.

c. It is stated that this Tribunal by order dated 07.11.2024 appointed N. Tatia & Associates as the Independent Auditor to carry out the forensic audit of the Respondent No.1 Company from 2017-18 to 2021-22 and also fixed the fee. Thereafter the appointed forensic auditor has conducted a forensic audit from the period 2017-18 to 2021-22 and filed the Forensic Auditor R