of books of account and other papers whereas during investigation the Inspectors have powers for the seizure of the books and documents which they consider necessary for the purpose. Both the Inspecting Officer and the Inspectors have powers to examine the person concerned on oath.
An Inspecting Officer can inspect only that company for which he is so authorised by the Central Government. But an Inspector has the power to investigate the affairs of the holding company, or the subsidiary of the company being investigated and the affairs of the Managing Director or the Manager of the company without the approval of the Central Government and the affairs of the connected companies with the
approval of the Central Government (Section 239).
Further no company or member can ask for a copy of inspection report made under Section 209-A, while it is obligatory on the part of the Central Government to forward a copy of investigation report to the company concerned and on request and on payment of prescribed fee to any member or creditor of such company.
