Custom Duty : Customs authorities are empowered to investigate offences under the Customs Act and allied acts and in connection with the investi...
Corporate Law : Corporate fraud consists of activities undertaken by an individual or company that are done in a dishonest or illegal manner, and ...
Corporate Law : The Office of the Director General of Investigation and Registration has been established under Section 8 of the Monopolies And Re...
Excise Duty : The Central Excise law prescribes a time and procedure to pay the duty. When some amount is paid not as per that procedure or at t...
Company Law : Government ordered SFIO investigation into Global Trust Bank case ...
Company Law : Serious Fraud Investigation Office (SFIO), functioning under the Ministry of Corporate Affairs, has handled 61 cases for investiga...
Company Law : Vasudevan, who was director investigation and inspection ministry of corporate affairs before joining the CLB three months ago, wa...
CA, CS, CMA : When it rains, it pours. The Central Board of Direct Taxes (CBDT) has launched an investigation into Satyam Computer Services, joi...
Customs authorities are empowered to investigate offences under the Customs Act and allied acts and in connection with the investigation, exercise powers conferred under relevant sections of the Customs Act 1962 and such allied Acts.
Corporate fraud consists of activities undertaken by an individual or company that are done in a dishonest or illegal manner, and are designed to give an advantage to the perpetrating individual or company. Corporate fraud schemes go beyond the scope of an employee’s stated position
The Office of the Director General of Investigation and Registration has been established under Section 8 of the Monopolies And Restrictive Trade Practices Act, 1969 (hereinafter referred to as ‘the Act’) for making investigations for the purposes of
Government ordered SFIO investigation into Global Trust Bank case
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.
Vasudevan, who was director investigation and inspection ministry of corporate affairs before joining the CLB three months ago, was looking into high profile cases like the Satyam and the Sesa Goa fraud. “No we don’t need to relook, it is the SFIO that has done the investigation, in the beginning it was done at the level of Regional Director and Registrar of Companies and then it was taken over by the SFIO, so I don’t think we need to worry at all…,” Corporate Affairs Minister Salman Khurshid said.
The Central Excise law prescribes a time and procedure to pay the duty. When some amount is paid not as per that procedure or at time different from the time of payment of duty, such payment cannot be treated as duty paid under Central Excise. The issue was decided by the Gujrat High Court in Parle International Ltd. V/s VOI [2001 (127) ELT 329 (Guj.)], wherein the Hon’ble Court held that,
When it rains, it pours. The Central Board of Direct Taxes (CBDT) has launched an investigation into Satyam Computer Services, joining a growing list of authorities investigating the company whose fate hangs in the balance following an admission of financial irregularities by its founder-chairman. The company, which is likely to be issued with a show […]
