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of <h1>Amendment to Section 212: Officers' Roles in Investigations Updated, New Disgorgement Rules for Fraudulent Company Personnel.</h1> Section 212 of the Companies Act has been amended to update the roles and responsibilities of officers involved in investigations. The amendments specify that officers not below the rank of Assistant Director can carry out certain duties, and clarify the process following an arrest. The term 'Special Court' is introduced alongside 'Judicial Magistrate' for judicial proceedings. A new sub-section, 14A, allows the Central Government to seek disgorgement of assets or benefits gained through fraud by company personnel, holding them personally liable without limitation. These changes aim to enhance accountability and streamline legal processes in corporate fraud cases.
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