ROC Audit

Hi,

Just file petition under section 397/398 with the CLB (Company Law Board) and request for cancellation of such allotment of shares/appointment of directors etc. this is a clear case of oppression and mismanagement.

Regards

But, I heard that CLB takes year for the decision. Can't ROC do something in this. Is there any other authority to file the complaint.

Filing petition before CLB and CLB hearings, no doubt, takes some time.  But authority for hearing shareholders / members grievances is CLB. In your case oppression and mis-management are involved and hence for enforcing your rights CLB is the appropriate authority. You have to move a petition or application before CLB. Based on your petition they may order inspection of books.

Agree with Jayashree S Iyer

I too agree with the above given answers. You have to file a petition under section 397 & 398 of the companies act 1956 with CLB as it is clear from your situation that it is a case of Mismanagement.

Regards

Priya