Frequently Asked Question
Q1. What is the procedure of investigation into the affairs of a company by SFIO?
Ans. The investigation into the affairs of a company shall be conducted in the manner and by following the procedure specified in Chapter XIV of Companies Act, 2013.
Q2. Under what circumstances, investigation into the affairs of a company is assigned to SFIO by the Government?
Ans. As per Section 212 (1) of the Companies Act, 2013, the Central Govt. may assign the investigation into the affairs of a company to the Serious Fraud Investigation Office –
(a) on receipt of report of the Registrar or Inspector under section 208;
(b) on intimation of a special resolution passed by a company requesting an investigation into its affairs;
(c) in public interest;
(d) on the request of any Department of Central Government or State Government.
Q3. What are the terms and conditions of service of Director experts and other officers and employees of SFIO?
Ans. The terms and conditions of service of Director, experts and other officers and employees of SFIO are stated in Companies (Inspection, Investigation and Inquiry) Rules, 2014 issued by Govt. of India Notification F.NO. 01/12/2013(Part-1) (CL.V) dated 31st March, 2014.
Q4. What is the composition of SFIO?
Ans. The Serious Fraud Investigation Office is headed by a director and consist of experts from different fields viz banking, corporate affairs, taxation, forensic audit, capital market, information technology, law etc.
Q5. How the serious Froud investigation Officer (SFIO) has been established ?
Ans. in exercise of the powers conferred by sub section (i) of section 211 of the companies Act,2013 the Central Government has established the Serious Fraud Investigation office vide notification F. No .A-35011/2011-admn.III
dated 21st of July ,2015.Earlier this office was established vide Government of India’s Resolution No.45011/16/2003-admn-1 dated 2nd july,2003.