Investigating into the Affairs of the Company: Random Unnecessary Security?

Authors

  • Shreya Mazumdar Law Firm

Keywords:

Abuse of power, Companies Act 2013, Investigation, Mechanism, Registrar, Shareholders

Abstract

The paper analyzes Sections 206 to 229, which are in respect to the investigating the affairs of a company. These sections are analyzed in order to reach an understanding if the investigating procedure mentioned in the Companies Act 2013 is very stringent which would affect the working of the company. The paper also analyzes the current fraud and misconduct caused by liquor baron Vijay Mallya and the subsequent cases that were led by Nirav Modi and former UCO Bank chief Arun Kaul that came to light.

References

1. Inspection, Inquiry and Investigation, https://www.icsi.edu/portals/0/INSPECTION, %20INQUIRY%20AND%20INVESTIGATION. pdf, last visited on 22/04/2018 at 12:44 A.M.

2. SFIO to Investigate 110 Companies, 10 LLPs in PNB Scam, (19 Feb. 2018) https://economictimes.indiatimes.com/news /politics-and-nation/sfio-to-investigate- 110-companies-10-llps-in-pnb- JCGIBL (2018) 1-9 © Law Journals 2018. All Rights Reserved Page 9 scam/articleshow/62987922.cms, visited on 22/04/18 at 12:44 A.M.

3. Section 206, The Companies Act, 2013.

4. Section 206(3), Id.

5. Section 477, The Companies Act, 2013.

6. Section 207, Id.

7. Section 208, Id.

8. Section 209, Id.

9. Supra Note 1.

10. Section 212, Id.

11. Supra Note 1.

12. Section 213, The Companies Act, 2013.

13. Section 214, The Companies Act, 2013.

14. Section 215, The Companies Act, 2013

15. Section 216, Id.

16. Section 217(7), Id.

17. Section 217, The Companies Act, 2013.

18. Section 217(10), Id.

19. Section 218, Id.

20. Section 219, Id.

21. Section 222, Id.

22. Section 223, The Companies Act, 2013.

23. Section 224, Id.

24. Section 228, The Companies Act, 2013.

25. Shireen Moti & V yapak Desai, A Director’s Liab ility in Case of Fraud (29.03.2018) http://www.nishithdesai.com/information/ news-storage/news- details/newsid/4565/html/1.html, last visited on 22.04.2018 at 1:05 A.M.

26. Supra Note 2.

27. Former CMD of UCO Bank Booked Raided in Rs. 737 Crore Fraud, (15.04.2018), https://timesofindia.indiatimes.com/business /india-business/former-cmd-of-uco-bank- booked-raided-in-rs-737-crore- fraud/articleshow/63766703.cms, last visited on 22.04.2018 at 1:05 A.M.

28. Vijay Mallya, Captain Gopinath in SFIO Crosshairs f or Alleged vio lation of Companies Act, (10.01.2018), https://www.firstpost.com/business/vijay- mallya-captain-gopinath-in-sfio- crosshairs-for-alleged-violation-of- companies-act-4296455.html, last visited on 22.04.2018 at 1:05 A.M.

29. SC Special Leave Petition (Crl.) No.2961 of 2013. Cite this Article Shreya Mazumda r. Investigating into the Affairs of the Company: Random Unnecessary Security? Journal of Corporate Governance & International Business Law. November 2018; 1(2): 1–9p.

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Published

2018-11-27