Serious Fraud Investigation Office (SFIO)

The SFIO 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 misappropriation or in terms of persons affected, and; 
• the possibility of investigation leading to or contributing towards a clear improvement in systems, laws or procedures. The SFIO shall investigate serious cases of fraud received from Department of company Affairs.

SFIO takes up investigation of cases referred by the Government under section 235 to 239 of the Companies Act,1956. SFIO, at present, does not initiate investigation on its own.