Section 502. Power to summon persons connected with company

(1) The Court may summon before it any officer of the company or person known or suspected to have in his possession any property of the company or supposed to be indebted to the company, or any person whom the Court deems capable of giving information concerning the promotion, formation, trade dealings, affairs or property of the company.

(2) The Court may examine the officer or person on oath concerning the matters mentioned in subsection (1) either orally or by way of written interrogatories and may reduce his oral statement into writing and require him to sign the written statement which may be used in evidence in any legal proceedings against the officer or person.

(3) The Court may require the officer or person to produce any books and papers in his custody or power relating to the company, but if the officer or person claims any lien on books or papers, the production shall be without prejudice to that lien, and the Court shall have jurisdiction to determine all questions relating to that lien.

(4) An examination under this section or section 503 may, if the Court so directs and subject to the rules referred to in section 616, be held before any Sessions Court Judge named for the purpose by the Court, and the powers of the Court under this section and section 503 may be exercised by such Sessions Court Judge.

(5) If any person so summoned after being tendered a reasonable sum for his expenses refuses to come before the Court at the time appointed without having a lawful excuse, made known to the Court at the time of its sitting and allowed by it, the Court may cause him to be apprehended and brought before the Court for examination.