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[Cites 0, Cited by 1] [Section 245(1)] [Section 245] [Entire Act]

Union of India - Subsection

Section 245(1)(c) in The Companies Act, 1956

(c)unless, as a result of the investigation, a prosecution is instituted in pursuance of section 242,-
(i)[ any company, body corporate, [* * *][Managing Director or manager dealt with by the report of the inspector shall be liable to reimburse the Central Government in respect of the whole of the expenses, unless and except in so far as, the Central Government otherwise directs; and] [Substituted by Act 65 of 1960, Section 78, for sub-Clause (i) (w.e.f. 28.12.1960). ]
(ii)the applicants for the investigation, where the inspector was appointed [in pursuance of the provisions of sub-section (2)] [ Substituted by Act 31 of 1988, Section 40, for " under clause (a) or clause (b)" (w.e.f. 31.5.1991).] of section 235 shall be liable to such extent, if any, as the Central Government may direct.