SFIO

  • Ponzi schemes: Lawmakers quiz regulators, ministry officials 5 days ago

    New Delhi: Lawmakers on Thursday quizzed officials of RBI, SEBI and the government about the steps being taken to avoid recurrence of fraudulent moneypooling activities like Saradha scam. The Parliamentary Standing Committee on Finance's meeting comes against the backdrop of CBI probing the Saradha scam in which thousands of crores or...
  • Saradha scam: SFIO completes probe, says 14 firms were running 'ponzi schemes' September 15, 2014

    New Delhi: The Serious Fraud Investigation Office of the Ministry of Corporate Affairs on Monday completed its probe into the multicrore Saradha scam and said 14 firms were running 'ponzi schemes'. Investigations have revealed that primary source of payments to subscribers was collections made from newly enrolled members rather than...
  • Government gets SFIO probe report on Saradha scam; prosecution soon September 9, 2014

    New Delhi: Completing its over ayearlong probe into Saradha scam, the Serious Fraud Investigation Office (SFIO) has submitted its final investigation report to the government, which may soon start prosecution proceedings for numerous serious violations found during investigations. The scam, wherein lakhs of investors in West Bengal and neighbouring states were...
  • Adani brothers discharged in cheating case by Maharashtra court June 22, 2014

    Mumbai: In a major relief to Gautam and Rajesh Adani, a local court has discharged the industrialists in a case of cheating and criminal conspiracy related to purchase and sale of shares. The Serious Fraud Investigating Office (SFIO) had, in 2012, filed a charge sheet against twelve accused including the Adani...
  • Chit fund scam: SFIO to probe 57 companies April 26, 2013

    New Delhi: The SFIO probe ordered by the government into illegal moneypooling activities of various entities would initially focus on 57 companies, most of which are in West Bengal, Odisha, Bihar and Assam. The Special Task Force under the Serious Fraud Investigation Office (SFIO) would begin its probe with a...
  • Cos Bill may come up in Monsoon Session: Moily June 17, 2012

    New Delhi: The new Companies Bill that rewrites the 56yearold law incorporating social responsibility obligations on corporates and recasts the Serious Fraud Investigation Office (SFIO) with powers of prosecution and arrest may see the light of the day in the coming Monsoon Session of Parliament. However, the government is not in...
  • Retail chain Subhiksha may be probed for fraud July 17, 2010

    Chennai: Retail chain Subhiksha may be probed by the Serious Fraud Investigation Office (SFIO) for misleading ICICI Venture on the actual financial condition of the company, Union Minister Salman Khurshid said Saturday. The corporate affairs minister said the report of Registrar of Companies (ROC) on the the retail chain may...
  • We are victims of Satyam fraud: Price WaterHouse April 17, 2009

    New Delhi: Auditing firm Price WaterHouse today sought to distance its auditors from the multi-crore rupees Satyam scam saying its partners, S Gopalkrishnan and Srinivas Talluri, were victims of the financial fraud at IT company. The auditing firm was reacting to the allegation made by SFIO that...
  • Govt to take over all firms owned by Raju February 18, 2009

    New Delhi: It's name is the mirror image of Satyam and now it emerges that Maytas may have mirrored the fraud of its parent as well. The Government is now suspecting that money was siphoned from Satyam into Maytas. The Government has now moved the Company Law Board, seeking to take...
  • Govt to probe 325 companies related to Satyam February 6, 2009

    New Delhi: The Union Corporate Affairs Minister PC Gupta has said that Serious Fraud Investigation Office (SFIO) will be investigating up to 325 companies related to Satyam and 25 individuals. This is beside of the 150 companies already under scrutiny. Gupta also said that PricewaterhouseCoopers, Bangalore will also be investigated by...
  • Satyam Board shortlists 3 names for CEO, CFO January 24, 2009

    New Delhi: Satyam Computer Services Ltd's new six-member board is in damage control mode. They are looking for a new CEO as well as new CFO for the beleaguered firm and it has been no easy job till now. Though the firm is fraud-hit, the new board has been flooded...