Company Law : Explore the depths of SFIOs role and ROC's authority in scrutinizing companies in India. Uncover how these bodies enforce complian...
Company Law : Section 212 of Companies Act, 2013 deals with investigation into the affairs of company by Serious Fraud Investigation Office (SF...
Finance : GO Mechanic scandal reveals undisclosed payments to promoters & affiliated entities. Investors were misled & funds misappropriated...
Company Law : The Serious Fraud Investigation Office (SFIO) is a fraud investigating agency in India. The SFIO is a multi-disciplinary organizat...
Company Law : The article briefly explains the guidelines issued by the Auditing Assurance Standards Board of Institute of Chartered Accountants...
Corporate Law : SFIO now issues digitally generated Summons/Notices with QR codes and DINs, allowing recipients to verify authenticity online and ...
Company Law : The government addresses SFIO cases, IBC amendments, CSR compliance, and ESG reporting norms for publicly traded companies....
Corporate Law : SFIO investigates three EV companies for Rs. 297 crore subsidy fraud under FAME-II. Alleged violations include importing restricte...
Corporate Law : SFIO investigates 36 corporate fraud cases in the past 3 years, with 41 cases filed and 25 convictions. MRAU enhances fraud detect...
Company Law : GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS LOK SABHA UN-STARRED QUESTION NO. 1282 ANSWERED ON MONDAY, JULY 25, 2022/ SRAVAN...
Company Law : NCLAT Delhi confirms NCLT's jurisdiction under Companies Act S.213 and NCLT Rules 11 to refer corporate fraud cases to SFIO, even ...
Income Tax : Pankaj Mahajan Vs Serious Fraud Investigation Office (Delhi High Court) The role of the petitioner a practicing Chartered Accounta...
CA, CS, CMA : Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the A...
Company Law : In exercise of the powers conferred by clause (ii) of sub-section (1) of Section 209A of the Companies Act, 1956, the Central Gove...
Company Law : In exercise of the powers conferred by sub-section (1) of Section 621 of the Companies Act, 1956 (1 of 1956), the Central Governme...
Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the Applicant should be treated any differently. Bail granted
The Government has ordered investigation into the affairs of 107 companies and 7 LLPs under the provisions of Section 212(1)(c) of the Companies Act, 2013 and Section 43(3)(c)(i) of Limited Liability Partnership Act, 2008 on 17.02.2018 belonging to Mr Nirav Modi (Firestar Diamond group) and Mr Mehul Chinubhai Choksi (Gitanjali Group) to be carried out […]
MCA has ordered investigations through SFIO U/s. 235 of the Companies Act, 1956 and Section 212 of Companies Act, 2013 into affairs of 187 companies (as on 13-04-2016) against whom complaints had been received regarding alleged collection of funds through MLM/ Ponzi activities from the people in different States of the country.
The Serious Fraud Investigation Office (SFIO) is a fraud investigating agency in India. The SFIO is a multi-disciplinary organization and was set up by Govt. of India under Ministry of Corporate Affairs, consisting of experts in the different fields for detecting and prosecuting crimes/frauds pursuance to Government of India Resolution No. 45011/16/2003-Adm-I, dated the July 2, 2003.
The article briefly explains the guidelines issued by the Auditing Assurance Standards Board of Institute of Chartered Accountants of India on Reporting of Fraud under Sec 143(12) of the Companies Act 2013.
The Guidance Note provides an overview of reporting requirement u/s 143(12). It also provides detailed guidance wrt various aspects of this reporting requirement like requirements for reporting u/s 143(12), responsibility of management, responsibility of auditor, Issues for consideration by the auditors, Applicability of Standards on Auditing, Audit procedures Technical guidance, Appendices etc.
Multi-national audit firms are regulated as per the Chartered Accountants Act, 1949 and the Chartered Accountants (Procedure of Investigations of Professional and other Misconduct and Conduct of Cases) Rules, 2007 and the Regulations framed thereunder. There is no bar under the Companies Act and the Chartered Accountants Act for such organizations to take up investigations of frauds on specific requests of the clients.
The Minister of State of Corporate Affairs, Shri R.P.N. Singh has stated that serious Fraud Investigation Office (SFIO) is currently investigating 14 cases. In the past two years investigation in respect of 25 companies were completed and 117 petitions were filed by SFIO in the Competent Courts. The Hon’ble Courts ordered convictions in 39 prosecution cases filed by SFIO in the preceding years. The SFIO has completed investigation in respect of M/s. Satyam Computer Services Ltd.
Hero Group said on Friday its exposure in the alleged financial fraud unearthed at Citigroup’s Gurgaon branch in Haryana was Rs 28.75 crore and that it was taking action to recover its dues. On December 28, US-based Citigroup had said it was investig
The Reserve Bank of India (RBI) has begun a probe into the Rs. 300 crore fraud at Citibank’s Gurgaon branch. RBI Executive Director G Gopalakrishna told reporters on Friday, that soon a statement in this regard would be made. Shivraj Puri, a bank e
