Children of Lord Swraj Paul battle it out in NCLT over mismanagement of Caparo finance company

The National Company Law Tribunal (NCLT) issued a notice to Caparo Financial Solutions Limited and its directors in a plea filed by Caparo Mauritius Limited. The plea, filed by Akash Paul, alleged mismanagement and financial irregularities in Caparo Financial Solutions, a part of Lord Swraj Paul’s Caparo Group. The internal audit revealed issues such as non-provisioning for non-performing assets and improper loan sanctions. The NCLT did not grant interim relief but issued a notice for further proceedings. The case highlights the importance of corporate governance and the role of NCLT in addressing allegations of mismanagement in companies.