SFIO is a multi-disciplinary organization under Ministry of Corporate Affairs, comprising of experts in the field of accountancy, forensic auditing, law, information technology, investigation, company law, capital market and taxation for detecting and prosecuting or recommending for prosecution white-collar crimes/frauds.
SFIO has a main office in New Delhi and regional offices in Maharashtra, Andhra Pradesh, Tamil Nadu, and West Bengal.
Shri Amardeep Singh Bhatia, IAS is Director, SFIO.
Investigation Procedure of SFIO
As per Section 212 (1) of the Companies Act, 2013, the Central Govt. may give the investigation into the affairs of a company to the Serious Fraud Investigation Office –
- on a document of the report of the Registrar or Inspector under section 208;
- result of a special resolution passed by a company requesting an investigation into its affairs;
- in public interest;
- on the request of any Department of Central Government or State Government
- On receipt of such order from the Government, Director, SFIO may designate such number of Inspectors as he may relate necessarily for the purpose of such investigation.
As per sub-section (3) of section 212 of Companies Act, 2013, the investigation into the affairs of a company shall be organized in the manner and by following the procedure specified in Chapter XIV of Companies Act, 2013. The SFIO shall deposit its report to the Central Government within the period specified in the order.
As per sub-section (4) of section 212 of Companies Act, 2013, the Director SFIO shall cause the affairs of the company to be investigated by an investigating officer, who shall have the powers of the Inspector under section 217 of the Companies Act, 2013.
As per sub-section (5) of section 212 of Companies Act, 2013, it shall be the undertaker of the company, its officers and employees, who are or have been in the employment of the company to give all information, explanation, documents and assistance to the investigating officer as he may need for conduct of business.
As per sub-section (11) of section 212 of Companies Act, 2013, the Serious Fraud Investigation shall submit an interim report if so directed by the Central Government.
As per sub-section (12) of section 212 of Companies Act, 2013, on completion of the investigation, the SFIO shall submit the Investigation Report to the Central Government.