SFIO stands for serious frauds investigation office. It is a investigation agency which is under the jurisdiction of ministry of corporate affairs. The mandate of SFIO is as under:
- 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.
- 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.
- Based on the recommendation of Naresh Chandra Committeeon corporate governance in the backdrop of stock market scams as also the failure of non-banking companies resulting in huge financial loss to the public.
- Agency headquarters is in the Indian capital, New Delhi, with field offices located 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube