Posts Tagged ‘Serious Fraud Investigation Office (SFIO)’


During the last five years, 27 companies under liquidation were referred to the Serious Fraud Investigation Office (SFIO) for investigation. Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that out of the said 27 cases, SFIO has completed investigation in 24 cases and in the remaining 3 cases, investigation is under progress.

Source: Press Information Bureau.

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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, Minister of Corporate Affairs, said that it is proposed to provide statutory recognition and more powers to the SFIO in the proposed Companies Bill, 2011 which is pending before the Parliament.

Source: Press Information Bureau.


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 Pilot, Minister of Corporate Affairs, said that the Government is intending to bring stringent legislation through Companies Bill, 2011 by providing adequate provisions and measures to ensure that companies raise money in a more transparent and accountable manner and also propose to grant statutory recognition to SFIO and to increase its powers to curb frauds.

Source: Press Information Bureau.


Complaints have been received in respect of the following four Companies, which have been found to be operating without registration or incorporation under the Companies Act, 1956 during the last three years:

(i) M/s Speakasia Online;

(ii) M/s Purvanchal Krishi Vinan Corporation Limited;

(iii) M/s Wonders Healthcare Private Limited;

(iv) M/s Preceptor Knowledge Academy Private Limited.

Giving this information in written reply to a question in the Parliament, Shri Sachin Pilot, Minister of Corporate Affairs, said that investigation into the affairs of M/s Speakasia Online has been ordered, to be conducted by the Serious Fraud Investigation Office (SFIO). In case of other three companies, Registrar of Companies (ROC), Kanpur has filed prosecution under Section 631 of the Companies Act, 1956.

Source: Press Information Bureau.


The Serious Fraud Investigation Office has undertaken investigation into the affairs of certain companies undertaking business in the ‘Multi-Level Marketing’ (MLM) mode. Giving this information in written reply to a question in the Parliament, Shri Sachin Pilot, Minister of Corporate Affairs, said that the websites of these companies were found non-operational at the commencement of investigations, which are underway. If any websites carrying of ‘MLM’ activities are found operational, suitable action will be taken as per law.

Source: Press Information Bureau.