Prosecution Architecture Under The Companies Act 2013
Foreword Mechanism For Criminal Proceedings Under The Present Companies Act 1956 Generally at the time of scrutinizing the Balance Sheet and Other Financial Statements of the Company, if Registrar of Companies come across any lapses on part of the Company in recording the transactions and financial irregularities etc. and observed provisions of Companies Act 1956… Read More
Tags: Central Government, Companies Act, Companies Act 1956, Company Law Board, Registrar of Companies, Securities & Exchange Board of India, Serious Fraud Investigation Office, SFIO
Investigation of Corporate Frauds by Serious Fraud Investigation Office
During the last three years, the Ministry of Corporate Affairs has ordered investigations under section 235 of the Companies Act, 1956 in 134 cases of corporate frauds through the Serious Fraud Investigation Office (SFIO) of the Ministry. Year-wise details are as under: Year No. of companies ordered for investigation 2011-12 12 2012-13 46 2013-14 (Till… Read More
Tags: Companies Act, Companies Act 1956, Corporate Affairs Ministry, French Section of the Workers' International, Lok Sabha, Securities & Exchange Board of India, SFIO, West Bengal
Strengthening the ˜Market Research and Analysis Unit™ of the Serious Fraud Investigation Office
Since 2009, a Market Research and Analysis Unit (MRAU) has been functioning in the Serious Fraud Investigation Office (SFIO) with the objectives of analyzing media reports and for market surveillance relating to corporates. Giving this information in written reply to a question in the Lok Sabha, Minister of Corporate Affairs, Shri Sachin Pilot, said that… Read More
Tags: Corporate Affairs Ministry, French Section of the Workers' International, LokSabha, Market Research, Minister of Corporate Affairs, Sachin Pilot, Serious Fraud Investigation Office, SFIO
Statutory Status to the Serious Fraud Investigation Office
Under the provisions of the recently enacted Companies Act, 2013, Serious Fraud Investigation Office (SFIO) has been accorded statutory status. Various other provisions of the Companies Act, 2013 would enable SFIO to be more effective in conducting investigations. Steps have also been taken to induct technology and skilled manpower to improve the functioning of SFIO.… Read More
Tags: Companies Act, Corporate Affairs Ministry, French Section of the Workers' International, Lok Sabha, Sachin Pilot, Serious Fraud Investigation Office, SFIO, Tata Group
“Capital Market Frauds and Malpractices – Genesis, Resolution and Prevention” :: National Conference organized by PHDCCI
Presents National Conference on Capital Market Frauds and Malpractices - Genesis, Resolution and Prevention - The growing number and size of capital market frauds are now a great cause of worry to the regulators, as besides hurting the investors, these harm the economy significantly. There are various kinds of frauds in defiance of the laws.… Read More
Tags: Capital market, Chamber of commerce, Companies Act, French Section of the Workers' International, New Delhi, PHDCCI, SEBI, Securities & Exchange Board of India, SFIO
Investigations by the Serious Fraud Investigation Office
The Serious Fraud Investigation Office (SFIO), which is a multi-disciplinary organization under the Ministry of Corporate Affairs, has investigated 55 cases of serious fraud during the last 3 years i.e. 2010-11. 2011-12 and 2012-13. Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, informed… Read More
Tags: Corporate Affairs Ministry, French Section of the Workers' International, Government, Lok Sabha, Reserve Bank of India, Sachin Pilot, Securities & Exchange Board of India, SFIO
Cases of Fraud and Cheating by the Chit Fund Companies
˜Chit Fund™ companies indulging in cheating of investors are to be proceeded against under the Chit Funds Act 1982 and the Prize Chits & Money Circulation Schemes (Banning) Act, 1978 under which investigations are to be carried out by the State Police authorities. Giving this information in written reply to a question in the Lok… Read More
Tags: Chit fund, Corporate Affairs Ministry, French Section of the Workers' International, Lok Sabha, Sachin Pilot, Securities & Exchange Board of India, SFIO, State Police
Action Taken in Cases of Corporate Frauds
From the years 2009-10 to 2013-14 (till date), 132 cases of fraud/ illegal transaction have been brought to the notice of the Ministry of Corporate Affairs. Giving this information in written reply to a question in the Rajya Sabha today Shri SachinPilot, Minister of Corporate Affairs, gave details of the action taken in respect of these cases as follows: (i) In 89… Read More
Tags: Collective investment scheme, Corporate Affairs Ministry, Fraud, Securities and Exchange Board of India, Serious Fraud Investigation Office, SFIO, The Companies Act 1956
Detection of Corporate Frauds
The Serious Fraud Investigation Office (SFIO) of the Ministry of Corporate Affairs has signed two Memorandums of Understanding (MoUs) on 18-03-2013 with: (i) the National Institute of Electronics and Information Technology (NIELIT), an autonomous scientific society of the Department of Information Technology, Government of India for setting up a Forensic Lab within SFIO premises in… Read More
Tags: Corporate Affairs Ministry, Financial Intelligence, India, Memorandum of understanding, New Delhi, Rajya Sabha, Sachin Pilot, Serious Fraud Investigation Office, SFIO
Ministry of Corporate Affairs – Special Task Force Constituted in the SFIO to Investigate
Special Task Force Constituted in the SFIO to Investigate The Affairs of Certain Chit Fund Companies The Ministry of Corporate Affairs has taken note of the misuse by certain Chit Fund Companies who have raised huge sums of money from the public at large. The State Governments are the appropriate authorities for regulation of such… Read More
Tags: Chit fund, Corporate Affairs Ministry, French Section of the Workers' International, Kolkata, Serious Fraud Investigation Office, SFIO, Special Task Force, West Bengal
MCA signs MoUs for developing a Comprehensive system for early detection of corporate frauds
Signing of MOUs between Ministry of Corporate Affairs and Financial intelligence unit & NIELIT Giving a fillip to the early establishment of a state-of-art Forensic Lab within the premises of Serious Fraud Investigation Office (SFIO) in the national capital; and the development of a Comprehensive Early Warning System (EWS) for detection of corporate fraud and… Read More
Tags: Corporate Affairs Ministry, Financial Intelligence, FIU, Memorandum of understanding, SFIO
Investigating the Frauds Committed by the Companies
The Ministry of Corporate Affairs has established Serious Fraud Investigation Office (SFIO) to investigate frauds committed by the companies. During last 4 years ( 2008-2009, 2009-10, 2010-11, 2011-12 and till date) 83 companies were ordered for investigation by SFIO. Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin… Read More
Tags: Serious Fraud Investigation Office, SFIO
Market Research and Analysis unit of Serious Fraud Investigation Office
Serious Fraud Investigation Office (SFIO) which is a multi-disciplinary investigating agency under the Ministry of Corporate Affairs, has set up the Market Research and Analysis Unit for capacity building, co-ordination with other investigating agencies and for market surveillance. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot,… Read More
Tags: Serious Fraud Investigation Office, SFIO