Inspectors from the Office of the Director of Corporate Enforcement (ODCE) are to begin investigating the affairs of Independent News and Media (INM) from today.

It is after the media group decided not to appeal a High Court decision to appoint them on Tuesday.

The corporate watchdog had made the application to appoint two inspectors to the company.

It is after it raised concerns about a number of issues within the company - including the interrogation of journalists data by a third party.

Lawyers for INM had argued against it, saying it could have negative consequences on the company.

However on Tuesday, Mr Justice Peter Kelly approved the appointment of the inspectors, saying it was well justified and not disproportionate.

He addressed allegations that the personal data of 19 journalists had been improperly accessed and warned that a free press is the cornerstone of a functioning democracy.

He said there were a myriad of issues within INM to which the answers are unknown and warned that considerable mystery surrounds a number of them.

He later said there may be a complete explanation for the concerns raised but if not - what was alleged is very serious.

In his concluding remarks, Judge Kelly noted that the appointment of inspectors to a company is a serious matter, adding that, "such a sledge hammer should not be used to crack a nut."

"What has been disclosed in the evidence before me is no nut," he said.

"The appointment of inspectors to ascertain the truth of what has allegedly gone on in the company is well justified and is not disproportionate.

"None of the issues raised by the company warrant the court exercising its discretion against making the order sought.

"It may be that there will be a complete explanation for all of the Director's concerns, but if there is not then, to borrow the language of the independent reviewers, what is alleged is very serious indeed."

"The evidence merits the appointment of inspectors and that is the order I make."

INM asked for time to consider the judgment and today, in a hearing that lasted less than five minutes, lawyers for INM said they would not be making an appeal.

They also said they would not be appealing an order of costs in favour of the ODCE.

It means that the inspectors can now take up their duties investigating INM from Thursday.