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SECTION 130

HIMANSHU KANSAL (Student CA FINAL) (219 Points)

01 February 2018

CAN ANY ONE TELL ME THAT UNDER SECTION 130 APPLICATION BY CG, IT AUTHORITY ETC. IS GIVEN TO COMPANY OR GIVEN TO TRIBUNAL

PLEASE CLARIFY

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3 Replies

CS Smreti (cs) (641 Points)
Replied 02 February 2018

As per the section statutory bodies like RBI, SEBI etc can approch court or tribunal to open the accounts of any company.
thus application to be given to tribunal

CS Smreti (cs) (641 Points)
Replied 02 February 2018

A company shall not re-open its books of account and not recast its financial statements, unless an application in this regard is made by the above mention stake holders and an order is made by a court of competent jurisdiction or the Tribunal

section 131 also provides for voluntary reinstatement.