Statutory Status to the Serious Fraud Investigation Office

Under the provisions of the recently enacted Companies Act, 2013, Serious Fraud Investigation Office (SFIO) has been accorded statutory status. Various other provisions of the Companies Act, 2013 would enable SFIO to be more effective in conducting investigations. Steps have also been taken to induct technology and skilled manpower to improve the functioning of SFIO. Giving this information in written reply to a question in the Lok Sabha, Minister of Corporate Affairs, Shri Sachin Pilot, said that investigations conducted by SFIO are monitored in his Ministry and wherever found necessary, appropriate instructions and assistance is provided.