Vivo Mobile India Private Limited Vs Serious Fraud Investigation Office (Supreme Court of India)
The matter arises from proceedings involving Vivo Mobile India Private Limited and the Serious Fraud Investigation Office (SFIO). The related Punjab & Haryana High Court judgment examined the applicability of the Bharatiya Nagarik Suraksha Sanhita (BNSS) pre-cognizance hearing provisions to prosecutions under the Companies Act, 2013. The High Court analysed the statutory scheme governing SFIO investigations, filing of complaints, cognizance by Special Courts, and framing of charges under the Companies Act. Referring to the provisions governing investigation, penalties for false statements, establishment of Special Courts, cognizance, and application of the criminal procedure law, the High Court observed that the Companies Act, 2013 specifically regulates these stages and constitutes an exclusive code on those aspects. It noted that SFIO investigations can be initiated only on authorisation by the Central Government or the Director, involve specified statutory powers and duties, culminate in an investigation report submitted to the competent authority, and that subsequent action is taken by the Central Government or the Director. The High Court held that the statutory procedure under the Companies Act governs these proceedings and concluded that the BNSS pre-cognizance hearing provisions do not apply to prosecutions under the Companies Act.
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