Expenses of investigation.
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.... the extent mentioned below, be liable to reimburse the Central Government in respect of such expenses:___ (a) any person who is convicted on a prosecution instituted in pursuance of section 242, or who is ordered to pay damages or restore any property in proceedings brought by virtue of section 244, may, in the same proceedings, be ordered to pay the said expenses to suc....
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....ept in so far as, the Central Government otherwise directs; and] (ii) the applicants for the investigation, where the inspector was appointed [3][in pursuance of the provisions of sub-section (2)] of section 235 shall be liable to such extent, if any, as the Central Government may direct. (2) Any amount for whic....
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.... rise to the proceedings. (5)(a) Any liability to reimburse the Central Government imposed by clauses (a) and (b) of sub-section (1) shall, subject to satisfaction of the right of the Central Government to reimbursement, be a liability also to indemnify all persons against liability under clause (c) of that sub-section. &nb....
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....es (Amendment) Act 1960, Act 65 of 1960, section 78, for sub-clause (i). [2] Omitted by the Companies (Amendment) Act, 2000, 13-12-2000, as provisions relating to "managing agents, secretaries and treasures, associate", had become redundant after abolition of system by Act 17 of 1969. [3] Substituted for the words "under clause (a) or clause (b)", by the Companies (Amendment) Act, 1988, section ....
TaxTMI
TaxTMI