TMI Blog2023 (1) TMI 1300X X X X Extracts X X X X X X X X Extracts X X X X ..... ons were directors could unfold the truth. It is also the allegation against the accused persons that they are involved in parking of black money and indulging in other illegal activities relating to the share market. Thus, though the allegations are against individuals, they also run several companies and investigation into those companies might be necessary to unravel the illegalities, if any. The regular police force may not be best equipped to deal with offences of this nature. Attention has been drawn to the provisions of subSection(2) of Section 210 of the 2013 Act, which stipulates that where an order is passed by a Court or Tribunal in any proceeding before it that the affairs of a company ought to be investigated, the Central Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER UPON hearing the counsel the Court made the following Heard learned senior counsel/counsel appearing for the parties. Grievance of the petitioner in this matter is over transferring the investigation triggered off by a complaint of Respondent No.3 to the Serious Fraud Investigation Office (SFIO). Allegation of the said respondent, inter-alia, is that the accused persons had generated funds through forgery and criminal offences and these funds were invested in shares of several companies. Initially, the Investigating Officer had sent written request to Central Depository Services (India) Limited and National Securities Depository Limited to prevent transfer of certain shares. On 17th December, 2020, on the complaint of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... black money and indulging in other illegal activities relating to the share market. Thus, though the allegations are against individuals, they also run several companies and investigation into those companies might be necessary to unravel the illegalities, if any. The regular police force may not be best equipped to deal with offences of this nature. Our attention has been drawn to the provisions of subSection(2) of Section 210 of the 2013 Act, which stipulates that where an order is passed by a Court or Tribunal in any proceeding before it that the affairs of a company ought to be investigated, the Central Government shall order an investigation into the affairs of that company. This provision applies to proceedings arising out of compl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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