Lawgist46Power of inspectors to carry out investigation into affairs of related entities, etc
(1) If an inspector appointed by the Central Government to investigate the affairs of a limited liability partnership thinks it necessary for the purposes of his investigation to investigate also the affairs of an entity which has been associated in the past or is presently associated with the limited liability partnership or any present or former partner or designated partner of the limited liability partnership, the inspector shall have the power to do so and shall report on the affairs of the other entity or partner or designated partner, so far as he thinks that the results of his investigation thereof are relevant to the investigation of the affairs of the limited liability partnership.
(2) In the case of any entity or partner or designated partner referred to in sub-section (1), the inspector shall not exercise his power of investigating into, and reporting on, its or his affairs without obtaining the prior approval of the Central Government thereto:
Provided that before according approval under this sub-section, the Central Government shall give the entity or partner or designated partner a reasonable opportunity to show cause why such approval should not be accorded.
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- 43 Investigation of the affairs of limited liability partnership
- 44 Application by partners for investigation
- 45 Firm, body corporate or association not to be appointed as inspector
- 46 Power of inspectors to carry out investigation into affairs of related entities, etc
- 47 Production of documents and evidence
- 48 Seizure of documents by inspector
- 49 Inspector's report
- 50 Prosecution
- 51 Application for winding up of limited liability partnership
- 52 Proceedings for recovery of damages or property
- 53 Expenses of investigation
- 54 Inspector's report to be evidence
