Court allows CLB members appeal

A two-judge bench of the High Court at Hyderabad allowed an appeal filed by Kanthi Narahari, Member of the Company Law Board at Chennai. The bench of Justice KC Bhanu and Justice Anis accordingly set aside orders of a single judge made against the member. Earlier in June 2014 a single judge while disposing of a company appeal faulted the member for his approach in a matter on the judicial side and directed the Secretary Ministry of Corporate Affairs to ‘closely watch the performance of the Member of the Company Law Board Chennai and do the needful to set right the functioning of the Bench at Chennai” Dealing with the appeal the bench speaking through Justice Bhanu said “The earlier directions given by this Court is to exercise its discretion in compounding the offences. Learned Judicial Member of the Company Law Board exercised his discretion by considering the facts and circumstances and permitted to compound the offences. Therefore those remarks are unwarranted and are liable to be expunged.”