Section 18: Report to be submitted by inquiry officer

1) The inquiry officer shall inquire into the financial and business situation of the Company and submit a report thereof to the Court within the period of inquiry.

2) The inquiry officer shall determine any one matter set forth in sub-section (1) of Section 13 and make a recommendation report referred to in sub-section (1) containing the reasons and grounds for such determination, and such report shall contain, inter alia, the actual financial situation of the Company, details obtained by the inquiry official upon making an inquiry and his or her opinion and findings.

3) Where the recommendation made pursuant to sub-section (2) has been submitted to the meeting of creditors, whether a majority of the creditors attending such meeting has accepted such recommendation or not shall also be mentioned.

4) A copy of the report submitted pursuant to sub-section (1) shall be sent to each of the concerned companies and the Office, and the concerned Company and the Office shall make arrangements to maintain the report so received that the shareholders, directors and creditors of the Company may inspect such report.