Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: 11 June 2026
Case Overview
This order pertains to restoration application RA-46/2024 in the main petition 44/241-242/PB/2023 filed by Krishan Kumar Bhargava against Caxton Press Private Limited & Others under Sections 241(1) and 242(4) of the Companies Act, 2013. The petition was previously disposed of vide order dated 19 September 2024 which had directed appointment of an independent auditor. The current application seeks restoration of the petition as the audit process could not commence and remains incomplete despite the appointment of auditor Mr. Shiv Nandan Sharma. The applicant cited the Registrar of Companies' Amnesty Scheme which allows regularization of pending statutory compliances with minimal additional fees and penalties, with the scheme ending on 15 July 2026.
Respondent No. 2, represented by legal heirs, raised no objections to the completion of audit by the previously appointed auditor. The Tribunal noted that the dispute is between close relatives and deemed it appropriate to attempt amicable settlement.
Final Outcome
The Tribunal allowed the restoration application and directed Mr. Shiv Nandan Sharma to undertake and complete the audit of the company's books of accounts for all pending financial years up to and including the financial year ending 31 March 2025. The auditor's remuneration was fixed at equivalent to the last fee drawn by the previous auditor with an enhancement of 7.5% for each subsequent year, payable by the company. The parties were permitted to avail benefits of any Amnesty Scheme notified by the Registrar of Companies for regularization of pending statutory compliances. The matter was listed for next hearing on 6 August 2026 for attempted amicable settlement between the parties.
Topics: Corporate Governance, Audit Compliance, NCLT Proceedings