Bharat Law & Practice relating to SFIO and Inspection, Investigation & Fraud By D.P. Mittal Edition 2020

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

1. Inspection, Inquiry and Investigation ? An Introduction
2. Inspection and inquiry
3. Conduct of Inspection and Inquiry
4. Search and Seizure
5. Investigation
6. Investigation ? Ordered by Central Government
7. Serious Fraud Investigation Office (SFIO)
8. SFIO ? Investigation
9. SFIO ? Power to Arrest
10. Investigation Ordered by Tribunal
11. Investigation of Ownership of Company
12. Procedure and Powers of Inspectors
13. Protection of Employees during Investigation
14. Investigation ? Related Companies
15. Seizure of Documents
16. Freezing of Assets
17. Inspector Report, Actions and Expenses
18. Penalty and Prosecution
19. Appendix 2Table F of Schedule 1 of the Companies Act, 2013
20. Appendix 3Companies (Inspection, Investigation and Inquiry) Rules, 2014
21. Appendix 4Companies (Arrests in Connection with Investigation by Serious Fraud Investigation Office) Rules, 2017
22. Appendix 5National Company Law Tribunal Rules, 2016
23. Appendix 6????National Company Law Appellate Tribunal Rules, 2016