Inspectors' Duties and Powers: Section 217 of Companies Act 2013 Mandates Compliance During Investigations, Allows International Evidence Collection.
Section 217 of the Companies Act, 2013 outlines the duties and powers of inspectors during company investigations. Officers and employees of a company under investigation must preserve and produce relevant documents and assist inspectors. Inspectors can require information from other entities if relevant to the investigation. Books and papers must be returned within 180 days unless needed longer. Inspectors can examine individuals on oath, with approval from the Central Government or Director, Serious Fraud Investigation Office. Inspectors have civil court powers for document discovery and summoning individuals. Non-compliance can lead to fines and imprisonment. Inspectors may seek international assistance for evidence collection.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.