investigation office

The ministry of corporate affairs(MCA) will take a call against the audit and accounting firm PricewaterhouseCoopers only after receiving the fact-finding reports of the Rs 10,000-crore Satyam accounting fraud from the Institute of Chartered Accountants of India (ICAI) on January 11, said MCA minister Salman Khurshid. Full Article

The Government has set up a Market Research and Analysis Unit in the Serious Fraud Investigation Office with the objective of improvements in the regulatory system in Corporate Sector. Giving this information in the Lok Sabha today Shri Salman Khurshid, Minister of Corporate Affairs said the unit will inter-alia perform following main functions: Full Article

The head count in the fraud hit Satyam Computers, which engaged the attention of investigating agencies considerably, is now become the curse for the company’s former directors.A charge common to most of the accused in the complaints filed in a court here by the Serious Fraud Investigation Office (SFIO) is that they approved the company’s balance sheets and the director’s reports about particulars of employees that were never filed with the competent authority. Full Article

The Ministry of Corporate Affairs has established Indian Institute of Corporate Affairs (IICA) to act as the capacity building support for the officers / officials of the Ministry on issues relating to effective corporate functioning and regulation. The Institute can also design and deliver training programmes on such areas relating to corporate laws and regulations on specific requests from concerned Ministry / Department / Organisation. Giving this information in the R.. Full Article

In reply to an unstarred question in the Lok Sabha today, Minister of Corporate Affairs, Shri Salman Khurshid said that generally, the cases referred to the SFIO for investigation are characterized by having substantial involvement of public interest either in terms of monetary misappropriation or in terms of persons affected, and are complex and having inter-departmental and multi-disciplinary ramifications. However, the exact amount of funds in each investigation has .. Full Article

The government said on Monday its serious fraud probe arm SFIO will start prosecution proceedings against Satyam founder B Ramalinga Raju and others this month, as there was sufficient evidence of their involvement in the over Rs 10,000-crore (Rs 100-billion) scam in the IT firm. Full Article

The government today said it would come up with a roadmap in November to help companies to adopt International Financial Reporting Standards (IFRS) which will become operational from 2011. The government will take the concerned regulatory agencies like SEBI and others on board before finalising the roadmap, Corporate Affairs Minister Salman Khurshid told reporters on the [...] Full Article

The New Companies Bill 2009, which seeks to replace the existing Companies Act of 1956, has already factored in the lessons from the Satyam incident and would look at strengthening the role of Serious Fraud Investigation Office (SFIO) in order to arm it with legal and statutory powers to probe corporate misdoings, according to Mr [...] Full Article