Powers to serious fraud investigation office to investigate frauds

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INVC,,

New Delhi,,

The Government has said that the Serious Fraud Investigation Office (SFIO) forwards the complaints received in its office to the Ministry of Corporate Affairs for appropriate action. The Ministry, after examination and wherever required, after calling the reports from the concerned Registrar of Companies (ROC) under section 234 of the Companies Act, 1956, takes appropriate action and based on the report of the ROC, wherever the situation warrants, investigation orders are issued under section 235 of the Companies Act, 1956 for investigation by the SFIO. Giving this information in written reply to a question in Rajya Sabha, Shri Salman Khurshid, Minister for Corporate Affairs, said that the Government is not considering giving the SFIO the powers to trail money stashed abroad by corporates.

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