Serious Fraud Investigation Office (SFIO), functioning under the Ministry of Corporate Affairs, has handled 61 cases for investigation during 2004-05 to 2008-09. Giving this information in reply to a question in the Rajya Sabha, the Minsiter for Corporate Affairs, Shri Salman Khurshid told the House that SFIO has filed prosecutions in the matter of 32 companies against 632 accused (which includes individuals as well as companies) during the last five financial years. He said that as the SFIO is an investigating agency and not a revenue earning organization, hence the benefits on account of an investigating agency cannot be quantified in terms of revenue.

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0 responses to “SFIO investigated 61 cases during 2004-05 to 2008-09”

  1. Rabatan says:

    I do not think, a body as yet ill-equipped even to professionally deal with the basic problem even of domestic black money generation, it would be advisable more powers to it.

    What is relevant in this context, and yje public would like to know, is the result of the investigation-and NOT the NUMBER of investigations, and the quantitative findings of the high powered Office and the benefits to the country/exchequer.

  2. CS.SANJIB SAHU. says:

    As reiterated by our Hon’ble minister that,SFIO is an investigating agency and therefore,benefits accruing out of investigations undertaken by the said agency is not
    quantifiable is correct and hence should not be interfered through alike debates in the houses of Parliament.Rather SFIO should be empowered with more power to deal with fraudulent cases reported via public petitions.

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