Description
The book deals with, as its title suggests, law and procedure relating to SFIO (Special Fraud Investigation Office), inspection and investigation of a company. The concept of corporate entity was evolved to encourage and promote trade and commerce but not to commit illegalities or to defraud people. With the object to safeguard the interest of those dealing with company where the management is so conducted as to jeopardize those interests or where the company was formed for a fraudulent purpose or an unlawful object, the National Company Law Tribunal may direct the Central Government to appoint inspector(s) to investigate the affairs of the company and report. The Tribunal, thus, steps in and rectify matters when the directors of a company with their majority support conduct themselves in a manner inequitable, i.e., when their conduct is tainted with lack of probity or selfish interest as distinct from the interests of the company and of the public. What lies behind the statutory provisions is a breach of the fiduciary duties the majority is supposed to honour and the basis of the complaint itself is that there is a breach of such duties. Inspection, inquiry and investigations are one of them, clubbed under Chapter XIV of the Companies Act, 2013.
Contents
- Inspection, Inquiry and Investigation ? An Introduction
- Inspection and inquiry
- Conduct of Inspection and Inquiry
- Search and Seizure
- Investigation
- Investigation ? Ordered by Central Government
- Serious Fraud Investigation Office (SFIO)
- SFIO ? Investigation
- SFIO ? Power to Arrest
- Investigation Ordered by Tribunal
- Investigation of Ownership of Company
- Procedure and Powers of Inspectors
- Protection of Employees during Investigation
- Investigation ? Related Companies
- Seizure of Documents
- Freezing of Assets
- Inspector Report, Actions and Expenses
- Penalty and Prosecution
- Appendix 2Table F of Schedule 1 of the Companies Act, 2013
- Appendix 3Companies (Inspection, Investigation and Inquiry) Rules, 2014
- Appendix 4Companies (Arrests in Connection with Investigation by Serious Fraud Investigation Office) Rules, 2017
- Appendix 5National Company Law Tribunal Rules, 2016
- Appendix 6????National Company Law Appellate Tribunal Rules, 2016
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