https://www.taxtmi.com/caselaws?id=449825 The Karnataka HC dismissed a petition challenging the transfer of investigation from Section 210 to SFIO under Section 212 of the Companies Act, 2013. The petitioner company argued that SFIO investigation could only commence after a final report under Section 210, not during ongoing proceedings. The HC held that Section 210 reports can be interim or final, and the Government retains statutory power to assign investigations to SFIO at any stage. The court found no statutory violation or arbitrary action, noting that investigation transfer serves public interest in detecting economic offences. Sub-section (2) of Section 212 prevents duplication by mandating cessation of other investigations once SFIO is entrusted. The petition was dismissed as the impugned action was within statutory bounds. en-us Fri, 16 Feb 2024 00:00:00 +0530 Tue, 20 Feb 2024 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449825 The Karnataka HC dismissed a petition challenging the transfer of investigation from Section 210 to SFIO under Section 212 of the Companies Act, 2013. The petitioner company argued that SFIO investigation could only commence after a final report under Section 210, not during ongoing proceedings. The HC held that Section 210 reports can be interim or final, and the Government retains statutory power to assign investigations to SFIO at any stage. The court found no statutory violation or arbitrary action, noting that investigation transfer serves public interest in detecting economic offences. Sub-section (2) of Section 212 prevents duplication by mandating cessation of other investigations once SFIO is entrusted. The petition was dismissed as the impugned action was within statutory bounds. Case-Laws Companies Law Fri, 16 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449825