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of <h1>Section 213: When company investigations lead to fraud findings and punishment u/s 447 for responsible officers</h1> Section 213 empowers the Tribunal to order investigation into a company's affairs. It may act on an application by a qualifying number or proportion of members, supported by evidence, or on an application by any other person or suo motu, where circumstances suggest fraudulent or unlawful conduct, oppression of members, misconduct by promoters or management, or withholding of reasonable information from members. After giving parties a hearing, the Tribunal may direct the Central Government to appoint inspectors to investigate and report. If the investigation proves fraudulent business conduct, fraudulent formation, or fraud by those involved in formation or management, defaulting officers and responsible persons are punishable for fraud under section 447.
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