Companies Act, 2063(2006), Chapter 9

CHAPTER 9

CALL FOR EXPLANATION AND INVESTIGATION

120. Power of Office to call for explanation

(1) Where any matter is unclear in the documents submitted by a company, and such matter has to be set out or any explanation is necessary for respect of any matter, the Office may call on the company to furnish explanation on such matter within such reasonable period of time as specified by it.

(2) The management of the company shall, ….Read More….

121. Power of Office to deputy inspector

If the shareholders representing not less than ten percent of the paid-up capital or not less than one –fourth of the total number of shareholders of the company or the concerning creditors make an application, accompanied by the supporting evidence and reasonable grounds, stating that the company has acted in contravention of this Act, the ….Read More….

122. Functions, duties, and powers of inspector

(1) The functions, duties, and powers of the inspector deputed or appointed pursuant to Section 121 shall be as follows:

• (a) in course of investigation, to require those officers or shareholders or the company, where existing or former, whom he/she considers ….Read More….

123. Assistance to be rendered to inspector

(1) If any person makes a false deposition, fails to produce such statements or documents or other things as required to be submitted under Section 122 or fails to answer any question asked which is put to him/her by the inspector or fails to provide such information as asked by the inspector for the purposes of investigation, the inspector may file a ….Read More….

124. Report to be submitted

(1) The inspector appointed pursuant to this Chapter shall, on the conclusion of the investigation, submit a report, accompanied by his/her opinions, to the Office. The Office shall give a copy of such report to the applicant if any shareholder makes an application to get a copy of such report, the office shall issue a copy thereof to him/her, by ….Read More….

125. Expenses of investigation

(1) The expenses incurred in an investigation carried out by the Office pursuant these Chapter shall be borne by the concerned company.

            Provided, however, that if, in the course of carrying out the investigation, any director, managing director, manager or officer of a company ….Read More….