Press Information Bureau

Government of India

Ministry of Corporate Affairs

07-December-2011 17:39 IST

The provision in respect of statutory status to Serious Fraud Investigation Office has been proposed in the revised Companies Bill 2011 to be introduced in the ongoing session of the Parliament.

The Minister of State for Ministry of Corporate Affairs Shri R.P.N. Singh gave this information in a written reply in Rajya Sabha today.

ST/bs

Statutory status for Serious Fraud Investigation Office proposed to formalise its role under the revised Companies Bill. Provision to confer statutory status on the Serious Fraud Investigation Office has been proposed in the revised Companies Bill, reflecting a legislative initiative to formalise the Office's institutional basis and enforcement role; this proposal was communicated to Parliament via a ministerial written reply.