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of <h1>Clause 221: Tribunal Can Freeze Company Assets for Up to 3 Years During Investigation to Protect Public Interest.</h1> Clause 221 of the Companies Bill, 2011, allows a Tribunal to freeze a company's assets during an inquiry or investigation if it appears that asset removal, transfer, or disposal may harm the company, its shareholders, creditors, or public interest. This freeze can last up to three years and may include specific conditions. If a company violates the Tribunal's order, it faces fines between one lakh and twenty-five lakh rupees. Additionally, responsible officers may face imprisonment up to three years, fines between fifty thousand and five lakh rupees, or both.
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