MINISTRY OF CORPORATE AFFAIRS
Notification
New Detlhi, the 29/04/2016
S.O. E. In exercise of the powers conferred by sub-section (1) of section 458 of the Companies Act (18 of 2013)’ the Central Government being satisfied that circumstances warrant, hereby delegates the powers to appoint inspectors for inspection of books and papers of a company under sub-section (5) of section 206 as ordered by Central Government to the Regional Directors.
F No. 3/5162015-CL.II
Amardccp Sing Bhatia
Joint Secretary
ABCAUS Note:
As per section 206, where on a scrutiny of any document filed by a company or on any information received by him, the Registrar is of the opinion that any further information or explanation or any further documents relating to the company is necessary, he may by a written notice require the company
(a) to furnish in writing such information or explanation; or
(b) to produce such documents, within such reasonable time, as may be specified in the notice.
Further as per sub sections (5) and (6) of section 206, the Central Government is authorsied to direct inspection of records of a company by inspectors appointed by it.
The sub relevant sub section (5) , (6) and (7) are read as under:
(5) Without prejudice to the foregoing provisions of this section, the Central Government may, if it is satisfied that the circumstances so warrant, direct inspection of books and papers of a company by an inspector appointed by it for the purpose.
(6) The Central Government may, having regard to the circumstances by general or special order, authorise any statutory authority to carry out the inspection of books of account of a company or class of companies.
(7) If a company fails to furnish any information or explanation or produce any document required under this section, the company and every officer of the company, who is in default shall be punishable with a fine which may extend to one lakh rupees and in the case of a continuing failure, with an additional fine which may extend to five hundred rupees for every day after the first during which the failure continues.
----------- Similar Posts: -----------
Reopening notice u/s 148 and order u/s 148A(d) quashed as it was issued by Jurisdictional AO and not by a…
Wrong amount of income accumulation mentioned in Form-10 due to clerical error - ITAT deleted addition made by AO In…
Once a finding of intent to avoid payment of tax recorded, the appellate authority before allowing appeal bound to reverse…
Empanelment to act as ICAI exam observers for September / November 2024 CA Examination. Last date to apply is 10.08.2024…
CBDT extends cut off date for investment by Twelve sovereign wealth funds / Pension Funds from 31st March 2024 to…
Appeal against inadequacy of sentence passed by special court in income tax prosecution cases dismissed by High Court In a…