Question
Consider the following statements regarding corporate
investigations under Section 213 of the Companies Act, 2013: Statement 1: An investigator appointed by the Ministry can compel production of books, records, and documents. Statement 2: An investigator can examine officers and employees of the company under oath. Statement 3: Information obtained by the investigator is confidential and cannot be shared with regulatory authorities. Statement 4: A person who obstructs the investigator or withholds documents can be penalized. Which statements are correct?Solution
Sections 211-217 prescribe investigation procedures. Statement 1 is correct—Section 213 grants power to compel production of documents. Statement 2 is correct—Section 214 grants power to examine persons. Statement 4 is correct—obstruction and withholding are offences under Section 222. Statement 3 is incorrect because investigation information can be shared with regulatory authorities (SEBI, ROC, CAG) and law enforcement agencies as per statutory requirements; confidentiality is not absolute. Statements 1, 2, and 4 are correct.
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