https://www.taxtmi.com/caselaws?id=274982 A restraint order under section 221 of the Companies Act, 2013 is described as an investigative measure, not a final determination of rights. The commentary states that such restraint may be vacated where a respondent is only a former or independent director and the record shows no specific allegation or incriminating material linking that person to the alleged fraud. It also states that where prima facie material, including FIR-linked circumstances, suggests possible involvement, complete relief may be refused and the restraint kept in force with limited modification, such as permitted monthly withdrawals, to reduce hardship pending investigation. en-us Mon, 02 Apr 2018 00:00:00 +0530 Wed, 12 Sep 2018 19:44:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274982 A restraint order under section 221 of the Companies Act, 2013 is described as an investigative measure, not a final determination of rights. The commentary states that such restraint may be vacated where a respondent is only a former or independent director and the record shows no specific allegation or incriminating material linking that person to the alleged fraud. It also states that where prima facie material, including FIR-linked circumstances, suggests possible involvement, complete relief may be refused and the restraint kept in force with limited modification, such as permitted monthly withdrawals, to reduce hardship pending investigation. Case-Laws Companies Law Mon, 02 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274982