SFIO

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 GovernmentCompanies ActCompanies Act 1956Company Law BoardRegistrar of CompaniesSecurities & Exchange Board of IndiaSerious Fraud Investigation OfficeSFIO

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 ActCompanies Act 1956Corporate Affairs MinistryFrench Section of the Workers' InternationalLok SabhaSecurities & Exchange Board of IndiaSFIOWest 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 MinistryFrench Section of the Workers' InternationalLokSabhaMarket ResearchMinister of Corporate AffairsSachin PilotSerious Fraud Investigation OfficeSFIO

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 ActCorporate Affairs MinistryFrench Section of the Workers' InternationalLok SabhaSachin PilotSerious Fraud Investigation OfficeSFIOTata 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 marketChamber of commerceCompanies ActFrench Section of the Workers' InternationalNew DelhiPHDCCISEBISecurities & Exchange Board of IndiaSFIO

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 MinistryFrench Section of the Workers' InternationalGovernmentLok SabhaReserve Bank of IndiaSachin PilotSecurities & Exchange Board of IndiaSFIO

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 fundCorporate Affairs MinistryFrench Section of the Workers' InternationalLok SabhaSachin PilotSecurities & Exchange Board of IndiaSFIOState 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 schemeCorporate Affairs MinistryFraudSecurities and Exchange Board of IndiaSerious Fraud Investigation OfficeSFIOThe 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 MinistryFinancial IntelligenceIndiaMemorandum of understandingNew DelhiRajya SabhaSachin PilotSerious Fraud Investigation OfficeSFIO

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 fundCorporate Affairs MinistryFrench Section of the Workers' InternationalKolkataSerious Fraud Investigation OfficeSFIOSpecial Task ForceWest 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 MinistryFinancial IntelligenceFIUMemorandum of understandingSFIO

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 OfficeSFIO

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 OfficeSFIO

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