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 ...
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...
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 : 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...
Ministry of Corporate Affairs has asked corporate fraud investigating agency SFIO to outsource part of its work to private sleuths to overcome the problem of staff shortage that was causing delay in completing probes timely. The Ministry, in an internal note to the Serious Fraud Investigating Office (SFIO), has directed the body to hire private detective agencies to share the work load for significant cases.
The jurisdiction of Companies Act, 1956 under which the SFIO is functioning is restricted to the territory of India. Investigation regarding diversion of funds outside the country, is being carried on by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) for which they have the requisite powers. This was stated by Minister of State for Corporate Affairs, Shri R.P.N. Singh while replying to a question in Rajya Sabha yesterday.
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.
Government ordered SFIO investigation into Global Trust Bank case
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.
The Government has set up a Market Research and Analysis Unit in the Serious Fraud Investigation Office with the objective of improvements in the regulatory system in Corporate Sector. Giving this information in the Lok Sabha today Shri Salman Khurshid, Minister of Corporate Affairs said the unit will inter-alia perform following main functions:
The New Companies Bill 2009, which seeks to replace the existing Companies Act of 1956, has already factored in the lessons from the Satyam incident and would look at strengthening the role of Serious Fraud Investigation Office (SFIO) in order to arm it with legal and statutory powers to probe corporate misdoings, according to Mr […]
