The Joint-stock Companies Act, 1857
Examination of Affairs of Company
XLVIII. Examination of affairs of Company by Inspectors appointed by the local Government.-
Upon the application of one-fifth in number and value of the shareholders of any Company registered under this Act, the local Government may appoint one or more competent Inspectors to examine into the affairs of the Company, and to report thereon in such manner as the local Government directs.