In the present case, after framing of charges, counsel for the complainants submitted that not less than ten distinct proceedings were filed challenging the legality of the amalgamation of three Azim Premji Group companies with another group company, even though no outside shareholder or creditor was in any way affected.
It was also brought to the Court’s attention that India Awake for Transparency was a shell company as it had no income, negligible expenditure, and did not even possess a bank account. One of the accused person’s impermissible “dual role” as an advocate and authorised signatory was also highlighted by the complainants.
Source: Barandbench
