TaxTMI 
TaxTMI 
Investigation of Corporate Frauds
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....nvestigation of Corporate Frauds <br>News and Press Release<br>Dated:- 2-12-2014<br><BR>There is already a separate agency, the Serious Fraud Investigation Office (SFIO) to investigate corporate fraud....
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....s. It was set up through a Resolution dated 02.07.2003 to investigate corporate frauds of serious and complex nature. The number of Companies investigated by SFIO during the last three years and curr....
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....ent year: Year No. of Companies 2011-12 20 2012-13 22 2013-14 22 2014-2015 (Till 15.11.2014) 17 Prosecutions are in progress in the appropriate Courts of Low. Government has taken a numbe....
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....r of measures to curb and prevent corporate frauds, including; 'Fraud' as a substantive offence has been introduced in the Companies Act, 2013, Statutory status to the Serious Fraud Investigation Offi....
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....ce has been granted under the said Act, Stricter norms of Corporate Governance and their implementation under the Companies Act, 2013, Increasing application of technology for early detection of fraud....
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....s through data analysis, surveillance and usage of forensic tools, etc. This was stated by Shri Arun Jaitley, Minister of Corporate Affair in written reply to a question in the Rajya Sabha today.<BR....
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....> News - Press release - PIB....