Section 248

Auditors’ right to information.—(1) An auditor of a company has a right—

(a) of access at all times to the company’s books, accounts and vouchers (in whatever form they are held); and

(b) of access to such copies of, an extract from, the books and accounts of the branch as have been transmitted to the principal office of the company;

(c) to require any of the following persons to provide him with such information or explanations as he thinks necessary for the performance of his duties as auditor—

(i) any director, officer or employee of the company;

(ii) any person holding or accountable for any of the company’s books, accounts or vouchers;

(iii) any subsidiary undertaking of the company; and

(iv) any officer, employee or auditor of any such subsidiary undertaking of the company or any person holding or accountable for any books, accounts or vouchers of any such subsidiary undertaking of the company.

(2) If any officer of a company refuses or fails, without lawful justification, the onus whereof shall lie on him, to allow any auditor access to any books and papers in his custody or power, or to give any such information possessed by him as and when required, or otherwise hinders, obstructs or delays an auditor in the performance of his duties or the exercise of his powers or fails to give notice of any general meeting to the auditor or provides false or incorrect information, he shall be liable to penalty as provided under section 252.