Serious Fraud Investigation Office

Serious Fraud Investigation Office
गंभीर कपट अन्वेषण कार्यालय
Seal of the SFIO
Common name Serious Fraud Investigation Office
Abbreviation SFIO
Agency overview
Formed 2003
Jurisdictional structure
Federal agency India
Operations jurisdiction India
Governing body Government of India
General nature • Federal law enforcement
Headquarters New Delhi, India

Agency executive
Parent agency Ministry of Corporate Affairs
Regions
Facilities
Branchs 7
Website
sfio.nic.in

The Serious Fraud Investigation Office (SFIO) is a corporate fraud investigating agency in India. It is under the jurisdiction of the Ministry of Corporate Affairs, Government of India. The SFIO is involved in major fraud probes and is the co-ordinating agency with the Income Tax Department and the Central Bureau of Investigation.[1]

It is a multi-disciplinary organization having experts from financial sector, capital market, accountancy, forensic audit, taxation, law, information technology, company law, customs and investigation. These experts have been taken from various organizations like banks, Securities and Exchange Board of India, Comptroller and Auditor General and concerned organizations and departments of the Government.[2] Based on the recommendation of Naresh Chandra Committee on corporate governance (which was set up by the Government on 21 August 2002) and in the backdrop of stock market scams as also the failure of non-banking companies resulting in huge financial loss to the public, Vajpayee Government decided to setup SFIO on 9 January 2003.[3]

Organisation Structure

Agency headquarters is in the Indian capital, New Delhi, with field offices located in major cities throughout India. The SFIO draws most of its officers from the IAS, ICLS, IPS and IRS. The current SFIO director is Amardeep Singh Bhatia.[4]

The agency has 4 regional offices in Hyderabad, Mumbai, Kolkata and Chennai.[5][6]

References

  1. ↑ http://sfio.nic.in/websitenew/proactive_disclosure.pdf#P1
  2. ↑ "Chit funds: SC notices to Centre, SEBI, ED".
  3. ↑ "Serious Fraud Investigation Office".
  4. ↑ http://sfio.nic.in/websitenew/gaz_notification.pdf
  5. ↑ "Organisation Behaviour". sfio.nic.in. Retrieved 2017-02-14.
  6. ↑ "SFIO Home Page". sfio.nic.in. Retrieved 2017-02-14.
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