The prescription of period within which a report has to be submitted to the Central Government by Serious Fraud Investigation Office (SFIO) under Section 212(3) of the Companies Act, 2013 is purely directory – Serious Fraud Investigation Office Vs. Rahul Modi and Another Etc. – Supreme Court
The prescription of period within which a report has to be submitted to the Central Government under sub-Section (3) of Section 212 is purely directory. Even after the expiry of such stipulated period, the mandate in favour of the SFIO and the assignment of investigation under sub-Section (1) would not come to an end. The only logical end as contemplated is after completion of investigation when a final report or “investigation report” is submitted in terms of sub-Section (12) of Section 212.
