INTRODUCTION: This section seeks to provide for the re-opening of books of accounts and recasting of accounting records on an order by the competent court or Tribunal if it is discovered that earlier accounts were prepared fraudulently, or financial statements are not accurate due to mismanagement of the company's affairs. REOPENING OF ACCOUNTS ON ORDERS OF TRIBUNAL/ COMPETENT COURT: Subsection (1) of Section 130 of the Companies Act,2013 stipulates that a firm may reopen its