Inspection of ‑ Whether inspecting officer can seek information about company’s joint ventures with other bodies that are not companies - Companies Law - Circular: No. 25/75,

Circular: No. 25/75, dated 19 ‑ 11 ‑ 1975. Subject:- Inspection of ‑ Whether inspecting officer can seek information about company s joint ventures with other bodies that are not companies The matter regarding inspection of books of account, etc., of joint ventures in which the company inspected is a partner, during the course of inspection of any such company has been examined. It would appear that the phrase books of account of every company occurring in sub-section (4A) of section 209, only carries forward the subject-matter of section 209, which requires the maintenance of some books by a company and indicates the specific period for which they should be preserved. That phrase in its context does not give rise to the question whether it would extend to other books not required as such to be maintained by the company but nonetheless belonging to it on account of its interest in joint venture with some one else. The new section 209A has been formulated with a new subject‑matter as denoted by its different marginal heading. The power of the Government and the Registrar is also expressed in relation to the books of account and other books and papers of every company a phrase not to be found in sub-section (4) of section 209 as it stood prior to the Amendment Act. The intention is to provide as much of relevant information as possible to the Government as to the fortunes and failures of any company. Therefore, an inspecting officer can seek information about company s joint ventures with other bodies that are not companies.