Explanation:

It is a multi-disciplinary organization under Ministry of Corporate Affairs, consisting of experts in the field of accountancy, forensic auditing, law, information technology, investigation, company law, capital market and taxation for detecting and prosecuting or recommending for prosecution white-collar crimes/frauds.

The SFIO will normally take up for investigation only such cases, which are characterized by:

• Complexity and having inter-departmental and multi- disciplinary ramifications;
• Substantial involvement of public interest to be judged by size, either in terms of monetary
• The possibility of investigation leading to or contributing towards a clear improvement in systems, laws or procedures.

Statement 2 and 3: The SFIO shall investigate serious cases of fraud received from Department of Company Affairs. SFIO may also take up cases on its own.

The SFIO would make investigations under the provisions of the Companies Act, 1956 and would also forward the investigated reports on violations of the provisions of other acts to the concerned agencies for prosecution/appropriate action.