During the course of investigation under Section 217 of the Companies Act, 2013 it is revealed that the company has taken loans worth ₹100 crore from a consortium of Banks in India and failed to repay them as per the ter

According to Sec. 217 (11) of Companies Act, 2013, an application can be made by the inspector to the competent court in India, which may issue a letter of request to a court or authority in UK to deal with such request. (i) to examine orally, or otherwise, any person, supposed to be acquainted with the facts and circumstances of the case; (ii) to record his statement made in the course of such examination; (iii) to require such person or any other person to produce any document or thing, which may be in his possession pertaining to the case, and; (iv) to forward all the evidence so taken or collected or the authenticated copies thereof or the things so collected to the court in India which had issued such letter of request. The letter of request shall be transmitted in such manner as the Central Government may specify in this behalf. Every statement recorded or document or thing received under this sub-section shall be deemed to be the evidence collected during the course of investigation. In order to protect the interest of lenders of money to the company assets, sufficient provisions are provided under Companies Act, 2013, which includes: (i) Freezing of Assets of Company on Inquiry and Investigation According to Section 221 of Companies Act, 2013, the tribunal on reference made to it by the Central Government in Connection with any inquiry or investigation into affairs of a company on any complaint made by members under Section 244 of the said act or a creditor having outstanding amount of not less than 1 lakh or any other person having a reasonable ground, may by order direct that transfer removal or disposal of funds, assets or properties of the company shall not take place during specified period not exceeding three years or may take place subject to such conditions or restrictions it may impose. The tribunal may make such order, if it appears to the tribunal that the removal, transfer or disposal of funds, assets or properties of the company will be prejudicial to the interest of the company or shareholders or creditors or public. (ii) Imposition of Restrictions Upon Securities According to Section 222 of Companies Act, 2013, where it appears to the tribunal that there is good reason to find out the relevant facts about any securities issued to or by a company and the tribunal is of the opinion that such facts cannot be found out unless certain restrictions may be imposed the tribunal may by order, direct that the securities shall be subject to restrictions as it may deem fit for such period not, exceed by three years as may be specified in the order.