Tag Archives: Information

MISCELLANEOUS POWERS AND PROVISIONS


In this Post we will discuss provision of Section 456 – 470 of the Companies Act, 2013.

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INFORMATION AND STATISTICS (Companies Act, 2013)


POWER OF CENTRAL GOVERNMENT TO DIRECT COMPANIES TO FURNISH INFORMATION OR STATISTICS (SECTION 405):

The Central Government may by order companies generally or any company or class of company to furnish any information or statistic with regard to constitution or working of the company within a time specified in the order.

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INSPECTOR’S REPORT AND THEREAFTER


Consequence of any investigation is report. The Report is just a milestone. We will discuss the journey ahead in this post.

Inspector’s Report (Section 223):

In inspector shall submit all interim reports, if any, and final report to the Central Government.

Every report shall be in writing or printed as per direction of the Central Government.

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PROCEDURE RELATED TO INQUIRY AND INVESTIGATIONS


We are going to deal corporate frauds, genre of crime committed by most educated, polished, professional, greedy white colour criminals. You may find these people to come out on technical or procedural grounds even after committed in all black and whites.

HUMAN INSPECTOR (SECTION 215):

No firm, body corporate or other association shall be appointed as an inspector.

This leaves only human being to be appointed as inspector.

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SERIOUS FRAUD INVESTIGATION OFFICE AND INSPECTORS


Presently, the Serious Fraud Investigation Office (SFIO) is an organisation working under Ministry of Corporate Affairs. The office was established by the Government of India Resolution dated 2003 to investigate corporate frauds. The “About us” page of its website as on date read as under:

“The SFIO is a multi-disciplinary organization under Ministry of Corporate Affairs, consisting of experts in the field of accountancy, forensic auditing, law, information technology, investigation, company law, capital market and taxation for detecting and prosecuting or recommending for prosecution white-collar crimes/frauds. The SFIO will normally take up for investigation only such cases, which are characterized by:

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INSPECTION, INQUIRY, INVESTIGATION


We will discuss one important but neglected aspect of inspection, inquiry and investigation in this blog post.

POWER TO CALL FOR INFORMATION, INSPECTION AND INQUIRIES (SECTION 206):

This is a long but very powerful section as it appear from its section – heading.

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