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The Economic Times
The Economic Times
National

NCLAT says NCLT cannot directly order SFIO Probe; refers matter to Centre

SFIO NCLAT NCLT Tribunal the Central Government the National Company Law Appellate Tribunal the National Company Law Tribunal

New Delhi [India]: The National Company Law Appellate Tribunal (NCLAT) has held that the National Company Law Tribunal (NCLT) could not directly order an investigation by the Serious Fraud Investigation Office (SFIO) and clarified that such power rests with the Central Government under the Companies Act.

While partly allowing an appeal against an NCLT order, the Appellate Tribunal modified the direction for SFIO investigation and instead referred the matter to the Secretary, Ministry of Corporate Affairs, for investigation through an Inspector or Inspectors in accordance with law.

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