MCA, vide notification dated August 24, 2017 has formulated and released the Companies (Arrests in connection with Investigation by Serious Fraud Investigation Office) Rules, 2017, which dictate that:
Further, the arrest form and the personal search memo formats are attached to the Rules released by MCA. As per the provisions of Section 212 of the Companies Act, 2013, some of the offences that classify for arrest under the Regulations in question are furnishing of false or incorrect information, of which he is aware, with the Registrar at the time of incorporation and registration of a Company, fraudulently inducing another to invest money in the Company, or making or abetting an application in a fictitious name to a company for acquiring, or subscribing for, its securities, in any manner whatsoever. The exhaustive list of offences can be found in Section 212 of the Companies Act, 2013.
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