What is Power to order examination of promoters, directors, etc Section 300 of Indian Companies Act 2013

Power to order examination of promoters, directors, etc is defined under Section 300 of Indian Companies Act 2013. Provisions under these Sections are:

Section 300 of Indian Companies Act 2013 "Power to order examination of promoters, directors, etc"

(1) Where an order has been made for the winding up of a company by the Tribunal, and the Company Liquidator has made a report to the Tribunal under this Act, stating that in his opinion a fraud has been committed by any person in the promotion, formation, business or conduct of affairs of the company since its formation, the Tribunal may, after considering the report, direct that such person or officer shall attend before the Tribunal on a day appointed by it for that purpose, and be examined as to the promotion or formation or the conduct of the business of the company or as to his conduct and dealings
as an officer thereof.

(2) The Company Liquidator shall take part in the examination, and for that purpose he or it may, if specially authorised by the Tribunal in that behalf, employ such legal assistance as may be sanctioned by the Tribunal.

(3) The person shall be examined on oath and shall answer all such questions as the Tribunal may put, or allow to be put, to him.

(4) A person ordered to be examined under this section -

(a) shall, before his examination, be furnished at his own cost with a copy of the report of the Company Liquidator; and

 

(b) may at his own cost employ chartered accountants or company secretaries or cost accountants or legal practitioners entitled to appear before the Tribunal under section 432, who shall be at liberty to put to him such questions as the Tribunal may consider just for the purpose of enabling him to explain or qualify any answers given by him.

(5) If any such person applies to the Tribunal to be exculpated from any charges made or suggested against him, it shall be the duty of the Company Liquidator to appear on the hearing of such application and call the attention of the Tribunal to any matters which appear to the Company Liquidator to be relevant.

(6) If the Tribunal, after considering any evidence given or hearing witnesses called by the Company Liquidator, allows the application made under sub-section (5), the Tribunal may order payment to the applicant of such costs as it may think fit.

(7) Notes of the examination shall be taken down in writing, and shall be read over to or by, and signed by, the person examined, a copy be supplied to him and may thereafter be used in evidence against him, and shall be open to inspection by any creditor or contributory at all reasonable times.

(8) The Tribunal may, if it thinks fit, adjourn the examination from time to time.

(9) An examination under this section may, if the Tribunal so directs, be held before any person or authority authorised by the Tribunal.

(10) The powers of the Tribunal under this section as to the conduct of the examination, but not as to costs, may be exercised by the person or authority before whom the examination is held in pursuance of sub-section (9).

 

What is Submission of report by Company Liquidator What is Directions of Tribunal on report of Company Liquidator Section 281 and 282 of Indian Companies Act 2013

What is Custody of company's properties Promoters, directors, etc., to cooperate with Company Liquidator. Section 283 and 284 of Indian Companies Act 2013

What is Settlement of list of contributories and application of assets What is Obligations of directors and managers. Section 285 and 286 of Indian Companies Act 2013

What is Advisory committee What is submission of periodical reports to Tribunal Section 287 and 288 of Indian Companies Act 2013

What is Power of Tribunal on application for stay of winding up What is Powers and duties of Company Liquidator Section 289 and 290 of Indian Companies Act 2013

What is Provision for professional assistance to Company Liquidator What is Exercise and control of Company Liquidator's powers Section 291 and 292 of Indian Companies Act 2013

What is Books to be kept by Company Liquidator What is audit of Company Liquidator's accounts Section 293 and 294 of Indian Companies Act 2013

What is Payment of debts by contributory and extent of set-off What is Power of Tribunal to make calls Section 295 and 296 of Indian Companies Act 2013

What is Adjustment of rights of contributories What is power to order costs What is Power to summon persons suspected of having property of company, etc Section 297, 298 and 299 of Indian Companies Act 2013

What is Power to order examination of promoters, directors, etc Section 300 of Indian Companies Act 2013

 

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