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No other investigating agency shall investigate a case which is already assigned by Govt. to SFIO under Cos. Act: HC

September 9, 2020[2020] 119 81 (Andhra Pradesh)

COMPANY LAW : Section 210 of the Companies Act, 2013 deals with power of Central Government to order investigation into affairs of company under circumstances enumerated in said section by Inspectors to be appointed by Central Government. Section 212 deals with investigation into affairs of company by Serious Fraud Investigation Office (SFIO). A reading of section 212 makes it clear that without prejudice to section 210, where Central Government, on receipt of a report of Registrar or inspector under section 208; on intimation of a special resolution passed by a company that its affairs are required to be investigated; in public interest or ; on request from any Department of Central Government or a State Government, is of opinion that it is necessary to investigate into affairs of company by SFIO, it may, by order, assign investigation into affairs of company to SFIO.

• Section 212(2) mandates that where any case has been assigned by Central Government to SFIO for investigation under this Act, no other investigating agency of Central Government or State Government shall proceed with investigation in such case in respect of any offence under this Act and in case any such investigation has already been initiated, it shall not be proceed further with and concerned agency shall transfer relevant documents and records in respect of such offences under this Act to SFIO.

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