https://www.taxtmi.com/caselaws?id=446637 The Delhi HC dismissed a petition challenging SFIO summons issued under Section 212 of the Companies Act, 2013. Petitioners argued that since proceedings under the 1956 Act had commenced prior to enforcement of Section 212, SFIO lacked jurisdiction to initiate fresh proceedings. The court held that SFIO, constituted under Section 211 of the 2013 Act, operates as a specialized investigating body distinct from the Union Government's investigative powers under the 1956 Act. The investigation under the old Act applied only to one entity, not all petitioners, therefore the challenge failed. en-us Wed, 06 Dec 2023 00:00:00 +0530 Fri, 08 Dec 2023 08:55:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446637 The Delhi HC dismissed a petition challenging SFIO summons issued under Section 212 of the Companies Act, 2013. Petitioners argued that since proceedings under the 1956 Act had commenced prior to enforcement of Section 212, SFIO lacked jurisdiction to initiate fresh proceedings. The court held that SFIO, constituted under Section 211 of the 2013 Act, operates as a specialized investigating body distinct from the Union Government's investigative powers under the 1956 Act. The investigation under the old Act applied only to one entity, not all petitioners, therefore the challenge failed. Case-Laws Companies Law Wed, 06 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446637