Serious Fraud Investigation Office

The Bombay High Court on Tuesday rebuked the Serious Fraud Investigation Office (SFIO) for not completing its probe against Jet Airways founder Naresh Goyal and his wife in a case of an alleged Rs 7,000 crore fraud.

The Supreme Court on Thursday set aside a Delhi High Court order staying a Serious Fraud Investigation Office (SFIO) probe into nine companies related to the Sahara group.

Ms Sitharaman said that the government is strengthening the enforcement provisions that enable the Serious Fraud Investigation Office (SFIO) to ensure speedy and more effective enforcement, including actions of disgorgement.

The auditing firms gave clean audit reports and "deliberately" failed to report fraudulent activities at IFIN, said a 214-page tribunal filing.

The fresh investigation follows recommendation given by MCA's Mumbai regional office after inspecting the airline's books.

Hari Sankaran, former chairman and managing director of crisis-hit lender IL&FS, has been arrested for alleged abuse of power in the company, sources said. "The Serious Fraud Investigation Office today arrested Hari Sankaran in connection with the ongoing investigations in to the affairs of IL&FS and its group entities," said an officer who asked n...

The Supreme Court today reserved its verdict on the Serious Fraud Investigation Office's plea to stay a Delhi High Court order in a case concerning Bhushan Steel's erstwhile promoter Neeraj Singal.

Bhushan Steel's former promoter Neeraj Singal has been arrested for allegedly siphoning off funds worth over Rs 2,000 crore, according to officials of the Serious Fraud Investigation Office or SFIO. This is the first time that the SFIO has arrested a person for fraud, a senior official said.

Continuing the probe into the Punjab National Bank fraud, sleuths of the Serious Frauds Investigation Office questioned the MD and CEO Sunil Mehta

Punjab National Bank Managing Director and CEO Sunil Mehta today appeared before the Anti fraud agency -- Serious Fraud Investigation Office (SFIO) in Mumbai after being summoned for recording his statement in connection with the Rs 12,636 crore fraud at the bank.

The ministry is probing deposits of over $1 billion made by around 20,000 companies during the cash ban last year, while its Serious Fraud Investigation Office is investigating 1,505 companies for allegedly violating the Companies Act.

Regulator told board that steps were being taken to fast-track all pending cases in a time bound manner, say sources.

Over 550 people laundered nearly Rs 3,900 crore through shell companies after the government banned high-denomination notes on November 8, the Serious Fraud Investigation Office (SFIO) told the Prime Minister's Office on Friday that decided to set up a task force to track action taken against deviant shell companies.

Vanishing companies are those that fail to file documents and balance sheets after raising funds through public issues and are untraceable.

Widening its probe into financial irregularities at erstwhile Kingfisher Airlines, the Serious Fraud Investigation Office (SFIO) has started examining former chiefs of various banks, including public sector lenders, for having extended fresh loans allegedly without full due-diligence amid ballooning losses at the Vijay Mallya-owned carrier.

The Bombay High Court on Tuesday rebuked the Serious Fraud Investigation Office (SFIO) for not completing its probe against Jet Airways founder Naresh Goyal and his wife in a case of an alleged Rs 7,000 crore fraud.

The Supreme Court on Thursday set aside a Delhi High Court order staying a Serious Fraud Investigation Office (SFIO) probe into nine companies related to the Sahara group.

Ms Sitharaman said that the government is strengthening the enforcement provisions that enable the Serious Fraud Investigation Office (SFIO) to ensure speedy and more effective enforcement, including actions of disgorgement.

The auditing firms gave clean audit reports and "deliberately" failed to report fraudulent activities at IFIN, said a 214-page tribunal filing.

The fresh investigation follows recommendation given by MCA's Mumbai regional office after inspecting the airline's books.

Hari Sankaran, former chairman and managing director of crisis-hit lender IL&FS, has been arrested for alleged abuse of power in the company, sources said. "The Serious Fraud Investigation Office today arrested Hari Sankaran in connection with the ongoing investigations in to the affairs of IL&FS and its group entities," said an officer who asked n...

The Supreme Court today reserved its verdict on the Serious Fraud Investigation Office's plea to stay a Delhi High Court order in a case concerning Bhushan Steel's erstwhile promoter Neeraj Singal.

Bhushan Steel's former promoter Neeraj Singal has been arrested for allegedly siphoning off funds worth over Rs 2,000 crore, according to officials of the Serious Fraud Investigation Office or SFIO. This is the first time that the SFIO has arrested a person for fraud, a senior official said.

Continuing the probe into the Punjab National Bank fraud, sleuths of the Serious Frauds Investigation Office questioned the MD and CEO Sunil Mehta

Punjab National Bank Managing Director and CEO Sunil Mehta today appeared before the Anti fraud agency -- Serious Fraud Investigation Office (SFIO) in Mumbai after being summoned for recording his statement in connection with the Rs 12,636 crore fraud at the bank.

The ministry is probing deposits of over $1 billion made by around 20,000 companies during the cash ban last year, while its Serious Fraud Investigation Office is investigating 1,505 companies for allegedly violating the Companies Act.

Regulator told board that steps were being taken to fast-track all pending cases in a time bound manner, say sources.

Over 550 people laundered nearly Rs 3,900 crore through shell companies after the government banned high-denomination notes on November 8, the Serious Fraud Investigation Office (SFIO) told the Prime Minister's Office on Friday that decided to set up a task force to track action taken against deviant shell companies.

Vanishing companies are those that fail to file documents and balance sheets after raising funds through public issues and are untraceable.

Widening its probe into financial irregularities at erstwhile Kingfisher Airlines, the Serious Fraud Investigation Office (SFIO) has started examining former chiefs of various banks, including public sector lenders, for having extended fresh loans allegedly without full due-diligence amid ballooning losses at the Vijay Mallya-owned carrier.