SFIO

According to ED, statutory audit of IFIN has been made by Deloitte Haskins & Sells LLP between FY09 and FY18 and by BSR & Associates for FY18

The government has sought applications for filling 40 positions, including posts of additional director and joint directors, at the Serious Fraud Investigation Office (SFIO) on a deputation basis. Applications have been invited for 40 posts that include positions of Additional Director, Joint Director, and Deputy Director among others in the areas of financial transaction, capital market, forensic audit, investigation, law and corporate law, according to a public notice. Applicants must be officers working under the central or state governments/ union territories or public sector undertakings or semi-government or autonomous bodies or statutory organizations. The vacancies to be filled up on a deputation basis, are across SFIO offices in the national capital, Mumbai, Kolkata, Chennai and Hyderabad. "Applications from eligible officers in the prescribed proforma may forward their application through proper channel to the Director, SFIO... New Delhi," the notice said. SFIO, which c

The Bombay High Court on Wednesday in jest remarked if the Serious Fraud Investigation Office (SFIO) has sought hearing of a 2019 case involving Adani Enterprises, its Chairman Gautam Adani and Managing Director Rajesh Adani now because of the scenario outside, an apparent refence to a damning report on the Indian conglomerate released by a US-based investment research firm. A petition was filed by Adani Enterprises in 2019 seeking to quash a sessions court order of the same year refusing to discharge the company, Gautam Adani and Rajesh Adani from a case of alleged violations of market regulations involving nearly Rs 388 crore. In December 2019, the high court stayed the sessions court order. This stay order came to be extended from time to time till February 2022. Last week, the SFIO, a multi-disciplinary organization under the Ministry of Corporate Affairs, sought for the matter to be placed for hearing following which it was listed before a single bench of Justice R G Avachat .

The government has allowed the Enforcement Directorate to share information about economic offenders with 15 more agencies, including SFIO, CCI and NIA, a move that will expedite nailing of law-breakers. The finance ministry notified changes to the Prevention of Money Laundering Act (PMLA), 2002, on November 22. Through the notification, the Enforcement Directorate (ED), which deals primarily with cases of money laundering and violations of foreign exchange laws, would be able to share data with a total of 25 agencies, including the 10 specified earlier. These 15 agencies include National Investigation Agency (NIA), Serious Fraud Investigation Office (SFIO), State Police Department, regulators under various Acts, Directorate General of Foreign Trade (DGFT), Ministry of External Affairs, and Competition Commission of India (CCI). National Intelligence Grid, Central Vigilance Commission (CVC), Defence Intelligence Agency, National Technical Research Organisation, Military Intelligenc

Insurance Fraud Investigation Agency proposed via Insurance Act amendment

The September 10 arrest comes after Finance Minister Nirmala Sitharaman directed the MCA to identify shell companies that can be used to siphon off funds

The Serious Fraud Investigation Office (SFIO) has arrested an individual who has emerged as the mastermind behind incorporating a large number of shell companies with Chinese links in India and providing dummy directors on their boards. The arrest comes against the backdrop of the crackdown on Chinese shell companies that are allegedly into "serious financial crimes". In a statement on Sunday, the corporate affairs ministry said it has arrested one Dortse, who is on the board of Jillian India Ltd, on Saturday. This follows simultaneous search and seizure operations conducted by the ministry on September 8 in the offices of Jillian Consultants India Private Ltd, a wholly-owned subsidiary of Jilian Hong Kong Ltd at Gurgaon, Fininty Pvt Ltd at Bangalore and Husys Consulting Ltd at Hyderabad. "Dortse is on the Board of Jillian India Ltd and has clearly emerged as the mastermind of the whole racket of incorporating large number of shell companies with Chinese links in India and providin

A case is pending against Nandal Finance at NCLAT; RoC has also filed a winding-up petition against the firm

The Serious Fraud Investigation Office (SFIO) has been ordered to probe 14 cases involving 95 companies in the current fiscal till March 17, the government informed Rajya Sabha on Tuesday

Satish Kumar Pawa, promoter and shareholder; Saurav Aggarwal, son of promoter; and Suhas S Paranjpe, statutory auditor; have been arrested by the probe agency

The Insolvency and Bankruptcy Code (IBC) provides a market-linked framework for resolution of stressed assets and it came into force in 2016

Keshav Chandra said frauds happen in companies, not just through promoters but a whole group of people who work to achieve the promoter's plan

SFIO comes under the corporate affairs ministry and has been set up under the companies law

Justice Vibhu Bakhru allowed the SFIO to interrogate the Singh brothers, former CMD of REL Sunil Godhwani and Kavi Arora for two weeks from January 1, 2021 onwards

Group's companies suspected to have diverted a huge amount of money to other subsidiaries after taking collections from depositors.

The Serious Fraud Investigation Office (SFIO) completed probes in 12 cases involving 361 companies in the last financial year

Keshav Chandra has been appointed as the Director of Serious Fraud Investigation Office (SFIO)

The Jaypee group has already sold many cement and power plants to reduce its debt

Sources said the probe agencies are planning to move an application, seeking more time with respect to the filing of chargesheet in matters

Kothari, a whole-time director of the pen company Rotomac, and the Mumbai-based company's bosses were remanded to SFIO custody by a magistrate court