SFIO completed investigations against 361 companies last fiscal: Government

NEW DELHI: The Serious Fraud Investigation Office (SFIO) completed probes in 12 cases involving 361 companies in the last financial year. In 2018-19 also, the probe agency completed investigations in 12 cases but the number of companies involved were just 83, as per data provided by the corporate affairs ministry to the Rajya Sabha on Tuesday.

The data was provided in a written reply by Minister of State for Corporate Affairs Anurag Singh Thakur.

The SFIO, which comes under the corporate affairs ministry, completed investigations in 12 cases involving 361 companies in 2019-20, according to the data.


In 2017-18, it completed probes in five cases and those involved 132 companies.

According to the minister, the data is for cases where instances of manipulation of accounts by the companies assigned to SFIO and investigations completed in the last three years.

"SFIO has been given vast powers under the provisions of the Companies Act, 2013 including the power to arrest.

"Based on a well laid down process, cases that involve prima facie findings of fraud are referred to SFIO," the minister said.