Question

Remuneration to investigator upon investigation of the affairs of company is treated as

Answer 1

The Companies Act, 1956 provides for investigation of the affairs of companies under sections 235-250A of the Act. In addition, the Act provides for a separate process of inspection of Books of Accounts of companies under Section 209A. The Committee considered these provisions.

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Answer 2

Answer:

Remuneration to investigator upon investigation of the affairs of company is treated as Preferential creditor.

Explanation:

• A preferred creditor is an individual or organization that has priority in being paid the money it is owed if the debtor declares bankruptcy.
• The types of creditors that are preferred are defined by law and vary depending on the jurisdiction.
• Unpaid wages and taxes, as well as environmental and tort damages, are often the first expenses covered.