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 New Delhi. The lab will be useful in enabling SFIO to investigate cases of serious and complex fraud; (ii) with the Financial Intelligence Unit, India (FIU-IND) for exchange of information relating to banking transactions. Such exchange of information would help SFIO in developing a fraud prediction model. Giving this information in written reply to a question in the Rajya Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that a similar MoU has also been signed between the Ministry and FIU-IND.

The total cost of the Forensic Lab project is estimated at Rs. 3.80 Crore. The Forensic Lab is expected to be functional during the current financial year, Shri Pilot informed the House.


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eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

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