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Inspection and Investigation – Part 2 Quiz !

Inspection and Investigation

Chapter XIV (Section 206 – 229) of the Companies Act 2013 deals with the aspects Inspection, inquiry and investigation. The broad regulatory framework covers aspects such as powers of registrar/central government to call for information, to inspect books and to conduct enquiries, procedure for inspection, powers of registrar in the course of inspect and the duties of officers in providing the information in the course of inspection, search/seizure, powers the central government to order an investigation into the affairs of the company, constitution Serious Fraud Investigation Office(SFIO), investigation into the affairs of the company by SFIO and other operational aspects.

Section 206 of the Companies Act 2013 deals with inspection of documents and books and papers of any company. The section empowers the Registrar or Inspectors appointed by Central Government to conduct inspection in order to ascertain that all the transactions have been validly entered into and recorded in appropriate books and those applicable laws, rules and procedures have been compiled by the company. The section provides some penal provisions for the every defaulting officer of the company if it is clear from the inspection that the company is being or has been carried on for a fraudulent or unlawful purpose.

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