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Company Law : The Serious Fraud Investigation Office (SFIO) is a fraud investigating agency in India. The SFIO is a multi-disciplinary organizat...
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Corporate Law : SFIO investigates three EV companies for Rs. 297 crore subsidy fraud under FAME-II. Alleged violations include importing restricte...
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Company Law : GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS LOK SABHA UN-STARRED QUESTION NO. 1282 ANSWERED ON MONDAY, JULY 25, 2022/ SRAVAN...
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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...
In exercise of the powers conferred by clause (ii) of sub-section (1) of Section 209A of the Companies Act, 1956, the Central Government hereby authorizes the following officers in the Serious Fraud Investigation Officer (SFIO), Ministry of Corporate Affairs to inspect the books of accounts and other books and papers for every company, namely
A day after the Supreme Court suggested that SFIO could help banks in recovering bad loans, the government on Thursday said it would look into the possibility of engaging the corporate fraud probing body to deal with the menace of non-performing assets.
In exercise of the powers conferred by sub-section (1) of Section 621 of the Companies Act, 1956 (1 of 1956), the Central Government hereby authorize the following officers in the Serious Fraud Investigation Office, Ministry of Corporate Affairs, for the purposes of filing and conducting prosecution under the Companies Act, 1956.
Investigations by Serious Fraud Investigation Office :- 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
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.
The Government has informed the Parliament that the Serious Fraud Investigation Office (SFIO) has so far investigated cases relating to 49 companies. Giving this information in written reply to a question in Rajya Sabha, Shri Salman Khurshid, Minister for Corporate Affairs, said that the SFIO has no power to convict the companies as powers to convict are vested with the Courts only. SFIO files cases in the appropriate judicial court for penal action after investigation.
In all, 37 cases were referred to the Serious Fraud Investigation Office (SFIO) during the last three years i.e. during the years 2006-07, 2007-08 and 2008-09. Out of these 37 cases, investigations in respect of 9 cases have been completed. Number of people in respect of other six companies will be known only after launching prosecutions. In respect of the […]
