Serious Fraud Investigation Office

  • The SFIO is a fraud investigating agency in India, under the jurisdiction of the Ministry of Corporate Affairs.
  • 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 (CBI).
  • It is headquartered in New Delhi.
  • It was established in January 2003 based on the recommendation of Naresh Chandra Committee on corporate governance and in backdrop of stock market scams due to failure of non-banking companies resulting in huge financial loss to the public.
  • SFIO is a multi-disciplinary organization having experts from financial sector, accountancy, capital market, taxation, forensic audit, law, information technology, company law, customs and investigation.
  • These experts have been taken from various organizations like banks, Securities and Exchange Board of India (SEBI), Comptroller and Auditor General (CAG) and concerned organizations and departments of Government.

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