(1) For the purpose of ascertaining whether any property is the property of the company or for any other purpose mentioned in this Ordinance or the rules made thereunder, a.ny person authorised by th,e Central Government in this behalf shall have the right to—
(a) enter and inspect any premises;
(b) require any person having the possession, custody or control of any register or record of the company to produce such register or record;
(c) require the occupier of any property belonging to, or claimed to be the property of, the company, to submit to the person so authorised such accounts, books or other documents or to furnish to him such information as he may reasonably think necessary; and Directors, etc., not entitled to compensation.
Contracts In bad faith, etc..
may be cancelled.
or varied.
Duty to deliver possession of property of company and documents relating to company.
Powers of Inspection.
Uo 'THE GAZE'TTE OF INDlA EXTRAOkDINARY t^Ah* i t ^
(d) examine any person having the control of, or employed in connection with, the company and require him to make any statement touching the affairs of the company.
(2) Any person authorised by the Central Government under sub- Section (I) shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code.
Penalty for false statements.
Limitation on prosecution, Ordinance to have overriding «ftect Protection of action taken under this Ordinance.