CHAPTER XXV

COMPANIES TO FURNISH INFORMATION OR STATISTICS
 
 
405. Power of Central Government to direct companies to furnish information or statistics.

(1) The Central Government may, by order, require companies generally, or any
class of companies, or any company, to furnish such information or statistics with regard to
their or its constitution or working, and within such time, as may be specified in the order.
(2) Every order under sub-section (1) shall be published in the Official Gazette and may
be addressed to companies generally or to any class of companies, in such manner, as the
Central Government may think fit and the date of such publication shall be deemed to be the
date on which requirement for information or statistics is made on such companies or class
of companies, as the case may be.
(3) For the purpose of satisfying itself that any information or statistics furnished by
a company or companies in pursuance of any order under sub-section (1) is correct and
complete, the Central Government may by order require such company or companies to
produce such records or documents in its possession or allow inspection thereof by such
officer or furnish such further information as that Government may consider necessary.
(4) If any company fails to comply with an order made under sub-section (1) or subsection
(3), or knowingly furnishes any information or statistics which is incorrect or
incomplete in any material respect, the company shall be punishable with fine which may
extend to twenty-five thousand rupees and every officer of the company who is in default,
shall be punishable with imprisonment for a term which may extend to six months or with fine
which shall not be less than twenty-five thousand rupees but which may extend to three lakh
rupees, or with both.
(5) Where a foreign company carries on business in India, all references to a company
in this section shall be deemed to include references to the foreign company in relation, and
only in relation, to such business.

 

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