Section 300 — Power to order examination of promoters, directors, etc

(1) Where an order has been made
for the winding up of a compan y by the Tribunal, and the Company Liquidator has made a report to the
Tribunal under this Act, stating that in his opinion a fraud has been committed by any person in the
promotion, formation, business or conduct of affairs of the company since its formation, the Tribunal may,
after considering the report, direct that such person or officer shall attend before the Tribunal on a day
appointed by it for that purpose, and be examined as to the promotion or formation or the conduct of the
business of the company or as to his conduct and dealings as an officer thereof.
(2) The Company Liquidator shall take part in the examination, and for that purpose he or it may, if
specially authorised by the Tribunal in that behalf, employ such legal assistance as may be san ctioned by
the Tribunal.
(3) The person shall be examined on oath and shall answer all such questions as the Tribunal may put,
or allow to be put, to him.
(4) A person ordered to be examined under this section—
(a) shall, before his examination, be furnish ed at his own cost with a copy of the report of the
Company Liquidator; and
(b) may at his own cost employ chartered accountants or company secretaries or cost accountants
or legal practitioners entitled to appear before the Tribunal under section 432, who shall be at liberty to
put to him such questions as the Tribunal may consider just for the purpose of enabling him to explain
or qualify any answers given by him.
(5) If any such person applies to the Tribunal to be exculpated from any charges made or sug gested
against him, it shall be the duty of the Company Liquidator to appear on the hearing of such application
and call the attention of the Tribunal to any matters which appear to the Company Liquidator to be relevant.
(6) If the Tribunal, after consider ing any evidence given or hearing witnesses called by the Company
Liquidator, allows the application made under sub -section ( 5), the Tribunal may order payment to the
applicant of such costs as it may think fit.
(7) Notes of the examination shall be taken down in writing, and shall be read over to or by, and signed
by, the person examined, a copy be supplied to him and may thereafter be used in evidence against him,
and shall be open to inspection by any creditor or contributory at all reasonable times.
(8) The Tribunal may, if it thinks fit, adjourn the examination from time to time.

(9) An examination under this section may, if the Tribunal so directs, be held before any person or
authority authorised by the Tribunal.
(10) The powers of the Tribunal under this section as to the conduct of the examination, but not as to