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TMI BlogExpenses of investigation.X X X X Extracts X X X X X X X X Extracts X X X X ..... ntioned below, be liable to reimburse the Central Government in respect of such expenses:___ (a) any person who is convicted on a prosecution instituted in pursuance of section 242, or who is ordered to pay damages or restore any property in proceedings brought by virtue of section 244, may, in the same proceedings, be ordered to pay the said expenses to such extent as may be specified by the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted [3][in pursuance of the provisions of sub-section (2)] of section 235 shall be liable to such extent, if any, as the Central Government may direct. (2) Any amount for which a company or body corporate is liable by virtue of clause (b) of sub-section (1) shall be a first charge on the sums or property mentioned in that clause. [4][(3) The amount of expenses in respect of which any company, bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e a liability also to indemnify all persons against liability under clause (c) of that sub-section. (b) Any such liability imposed by the said clause (a) shall, subject as aforesaid, be a liability also to indemnify all persons against liability under the said clause (b). (c) Any person liable under the said clause (a) or (b) or sub-clause (i) or (ii) of the said clause (c) shall be entit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es (Amendment) Act, 1988, section 40, w.e.f. 31-5-1991, [4] Substituted by Companies (Amendment) Act, 1960, Act 65 of 1960, section 78, for sub-section (3). [5] Omitted for as provisions relating to "managing agents, secretaries and treasures, associate", had become redundant after abolition of system by Act 17 of 1969.by the Companies (Amendment) Act, 2000, 13-12-2000, [6] Omitted for as provi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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