Inspector's report powers enable prosecution, winding-up petitions, and disgorgement remedies against wrongdoers after investigation. Inspector reports permit the Central Government to prosecute persons for offences disclosed and require company officers to assist; to present winding up petitions or oppression applications where circumstances justify; to bring proceedings in the company's name for recovery of damages or misapplied property with indemnity from the company; and to seek from the Tribunal disgorgement and unlimited personal liability against directors, key managerial personnel, officers or others who obtained undue advantage by fraud.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Inspector's report powers enable prosecution, winding-up petitions, and disgorgement remedies against wrongdoers after investigation.
Inspector reports permit the Central Government to prosecute persons for offences disclosed and require company officers to assist; to present winding up petitions or oppression applications where circumstances justify; to bring proceedings in the company's name for recovery of damages or misapplied property with indemnity from the company; and to seek from the Tribunal disgorgement and unlimited personal liability against directors, key managerial personnel, officers or others who obtained undue advantage by fraud.
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