Companies Act Section 227 — Legal advisors and bankers not to disclose certain information

CHAPTER XIV INSPECTION, INQUIRY AND INVESTIGATION

Commercial / Corporate

Summary

This section says that nothing in this Chapter forces certain professionals to reveal specific information to the Tribunal, the Central Government, the Registrar, or an inspector appointed by the Central Government.

Under clause (a), a legal adviser does not have to disclose any privileged communication made to them in that professional capacity. The only exception is that they must still provide the name and address of their client.

Under clause (b), bankers of any company, body corporate, or other person do not have to disclose any information about the affairs of their customers, unless that customer is the specific company, body corporate, or person being investigated.

Official Text

Nothing in this Chapter shall require the disclosure to the Tribunal or to the Central Government or to the Registrar or to an inspector appointed by the Central Government—

(a) by a legal adviser, of any privileged communication made to him in that capacity, except as respects the name and address of his client; or

(b) by the bankers of any company, body corporate, or other person, of any information as to the affairs of any of their customers, other than such company, body corporate, or person.