search this site - type your query and submit

Daily Email Newsletter (Sign-up Free)

Sec 219 Companies Act 2013: Inspector Power-investigate related Companies

SECTION-219 (Power of inspector to conduct investigation into affairs of related companies, etc) under CHAPTER-XIV (Inspection, Inquiry and Investigation) of the Companies Act, 2013

If an inspector appointed under section 210 or section 212 or section 213 to investigate into the affairs of a company considers it necessary for the purposes of the investigation, to investigate also the affairs of—
(a) any other body corporate which is, or has at any relevant time been the company’s subsidiary company or holding company, or a subsidiary company of its holding company;
(b) any other body corporate which is, or has at any relevant time been managed by any person as managing director or as manager, who is, or was, at the relevant time, the managing director or the manager of the company;
(c) any other body corporate whose Board of Directors comprises nominees of the company or is accustomed to act in accordance with the directions or instructions of the company or any of its directors; or
(d) any person who is or has at any relevant time been the company’s managing director or manager or employee,
he shall, subject to the prior approval of the Central Government, investigate into and report on the affairs of the other body corporate or of the managing director or manager, in so far as he considers that the results of his investigation are relevant to the investigation of the affairs of the company for which he is appointed.

Extra Notes for Readers

(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013)

(2) Section 219 of the Companies Act 2013 was notified by MCA Notification S.O. 902(E) dated 26th March 2014 (w.e.f. 1st April, 2014)

(3) Further, refer the Companies (Inspection, Investigation and Inquiry) Rules, 2014 (w.e.f. 1st April, 2014)
[Also check amendments, if any, to the Companies (Inspection, Investigation and Inquiry) Rules, 2014]

This page was last updated on 29th April, 2017.

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.