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...
Company Law : In Ravi Parthasarthy and Ors. v. State of Tamil Nadu [CRL. O.P. NOS. 3730, 4227, 4095 & 11206 OF 2021 CRL. M.P. NOS. 6647, 664...
Company Law : I. INTRODUCTION: The recent scams and corporate frauds (White-Collar Crimes, to be more specific) saw an enormous rise since pas...
Company Law : Section 211 set forth the provision for the power of the Central Government to establish an office to be called the Serious Fraud ...
CA, CS, CMA : SFIO, Ministry of Corporate Affairs, arrests CA Nalin Prabhat Panchal in Hyderabad for failure to honor summons related to Nityank...
Company Law : GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS LOK SABHA UN-STARRED QUESTION NO. 1282 ANSWERED ON MONDAY, JULY 25, 2022/ SRAVAN...
Corporate Law : A list of 6788 claims received as on 18.07.2022 along with deficiencies noticed in the scrutiny of claims, is being posted on the ...
Company Law : Central Government orders and assigns to SFIO, investigation cases involving many companies where alleged fraudulent activities by...
Corporate Law : SFIO arrests Satish Kumar Pawa, Saurav Aggarwal, Suhas S. Paranjpe in connection with investigation into affairs of Jagat Agro Com...
Company Law : Section 212(6) contemplates that before a court decides to grant bail to an accused, public prosecutor must be given an opportunit...
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...
Corporate Law : Serious Fraud Investigation Office Vs Rahul Modi (Supreme Court of India) Conclusion: The indefeasible right of an accused to seek...
Finance : The FIR against the ex-director of IL&FS was quashed as when SFIO was probing the case, no other investigative agency was empowere...
Company Law : Central Government hereby appoints Shri Keshav Chandra, IAS (AGMUT: 1995) as Director in the Serious Fraud Investigation Office (S...
Company Law : F. No. Legal-35/3/2020 Government of India Ministry of Corporate Affairs 5th Floor, Shastri Bhavan, Dr. Rajendra Prasad Road, New ...
Company Law : (1) These rules may be called the Companies (Arrests in connection with Investigation by Serious Fraud Investigation Office) Rules...
Company Law : In pursuance of sub-section (1) of section 621 of the Companies Act, 1956 (1 of 1956), the Central Government hereby authorise the...
Company Law : NOTIFICATION NO. G.S.R. 617(E) Section 621 of The Companies Act, 1956 - Offences - Offences Against Act To Be Cognizable Only On C...
Serious Fraud Investigation Office Vs Rahul Modi (Supreme Court of India) Conclusion: The indefeasible right of an accused to seek statutory bail under Section 167(2), CrPC arose only if the charge-sheet had not been filed before the expiry of the statutory period. Held: In the instant case, investigation was directed to be conducted into the […]
The FIR against the ex-director of IL&FS was quashed as when SFIO was probing the case, no other investigative agency was empowered to investigate into the affairs of IL & FS and its subsidiary companies for any offences under the Companies Act but the same did not allow a clean chit to assessee herein, as persons who was beyond a pale of doubt.
In Ravi Parthasarthy and Ors. v. State of Tamil Nadu [CRL. O.P. NOS. 3730, 4227, 4095 & 11206 OF 2021 CRL. M.P. NOS. 6647, 6649, 2218, 2601, 2679, 3388, 6708 & 6709 OF 2021 W.P. NO. 1397 OF 2021 AND W.M.P. NO. 5917 OF 2021 dated August 31, 2021]], Ravi Parthasarthy (Petitioner No. 1), Hari […]
Prabhat Kumar Srivastava Vs SFIO (Delhi High Court) FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT 1. The applicant, vide the present application seeks the grant of regular bail in complaint No. 149/2020 pending before the learned Special Judge, Companies Act, Dwarka District Courts in the complaint titled as ‘Serious Fraud Investigation Officer (SFIO) […]
The Ministry of Corporate Affairs (MCA) has ordered for investigation and assigned to Serious Fraud Investigation office (SFIO) and Regional Directors (RDs) in the cases where there are allegations of misuse of corporate structure/ fraud.
Rajesh Kumar Yaduvanshi Vs. Serious Fraud Investigation Office (SFIO) & Anr. (Delhi High Court) The petitioner has filed the present petition impugning a summoning order dated 16.08.2019 issued by the learned ASJ in Complaint Case No. 770/2019 captioned “Serious Fraud Investigation Office (SFIO) v. Bhushan Steel Limited and Ors.”, to the limited extent that it […]
Central Government hereby appoints Shri Keshav Chandra, IAS (AGMUT: 1995) as Director in the Serious Fraud Investigation Office (SFIO) under Ministry of Corporate Affairs, with effect from the forenoon of 03.08.2020, for an overall tenure of five years up to 17.12.2022 or until further orders, whichever is earlier.
I. INTRODUCTION: The recent scams and corporate frauds (White-Collar Crimes, to be more specific) saw an enormous rise since past many years like Sahara scam, Satyam Scam, Bofors Scam, 2G Spectrum Scam. It was the time for the Government to impede such frauds which were causing heavy damage to the economy. The Government in the […]
Bail was allowable to accused director of fraud on the reason that he was not the signatory to the alleged False Statement in the balance sheet of the Company and there was no loss caused either to any financial institution or Central/State Government and moreover, the trial proceedings is not possible within the reasonable time because of lockdown due to COVID-19 outbreak in India.
Bombay High Court had upheld the constitutional validity of Section 140(5) of the Companies Act but held that it would not apply to auditors who had resigned and also squashed the prosecution or the criminal complaints filed by the Serious Fraud Investigation Office (SFIO) against the erstwhile auditors of Infrastructure Leasing and Financial Services Ltd (IL&FS) and its non-bank lending arm for alleged collusion in falsifying books terming it to be ‘ bad in law’.
