COURT ALLOWS DCA PETITION PREVENTING DESTRUCTION/MUTILATION OF RECORDS OF M/S TATA FINANCE

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A Mumbai Court has allowed petition of the Department of Company Affairs preventing the destruction or mutilation of any record pertaining to M/s. Tata Finance. The petition under Section 234(a) came up for hearing in the Court of the Judicial Magistrate in Mumbai yesterday. Consequently, a team of six officials headed by Registrar of Companies(ROC) in Mumbai reached the office of M/s. Ferguson in Mumbai and is looking into the matter. The team is authorized to seize any documents that might be necessary to conduct any probe.

The petition was filed by the Department as it received reports that papers pertaining to M/s. Tata Finance were being shred by M/s. Ferguson & Co. Since it was necessary to prevent destruction or mutilation of records of M/s. Tata Finance, especially in the wake of recent controversy created by the withdrawal of a report by M/s. Ferguson from M/s. Tata Finance, the petition was filed on Sunday.