law: Companies Act, 2013 
  221.
  
    Freezing
  
  of assets of company on inquiry and investigation.
  1.      Where it appears to
  
  the Tribunal, on a reference made to it by the Central Government or in
  
  connection with any inquiry or investigation into the affairs of a company
  
  under this Chapter or on any complaint made by such number of members as
  
  specified under sub-section (1 ) of section 244 or a creditor having one
  
  lakh amount outstanding against the company or any other person having a
  
  reasonable ground to believe that the removal, transfer or disposal of funds,
  
  assets, properties of the company is likely to take place in a manner that is
  
  prejudicial to the interests of the company or its shareholders or creditors or
  
  in public interest, it may by order direct that such transfer, removal or disposal
  
  shall not take place during such period not exceeding three years as may be
  
  specified in the order or may take place subject to such conditions and
  
  restrictions as the Tribunal may deem fit.
  2.      In case of any
  
  removal, transfer or disposal of funds, assets, or properties of the company in
  
  contravention of the order of the Tribunal under sub-section (1 ), the
  
  company shall be punishable with fine which shall not be less than one lakh
  
  rupees but which may extend to twenty-five lakh rupees and every officer of the
  
  company who is in default shall be punishable with imprisonment for a term
  
  which may extend to three years or with fine which shall not be less than fifty
  
  thousand rupees but which may extend to five lakh rupees, or with both.