Under what circumstances, investigation into the affairs of a company is assigned to SFIO "Serious Fund Investigation Office" by the Government ?

CS Professional · Forensic Audit · PYQS · June 2021
Under what circumstances, investigation into the affairs of a company is assigned to SFIO "Serious Fund Investigation Office" by the Government ?

Answer & Explanation:

As per Section 211 of the Companies Act, 2013, the Central Government may establish the Serious Fraud Investigation Office and as per section 212 the central government may assign the investigation of the affairs of a company to the Serious Fraud Investigation Office (SFIO) in the following circumstances: (a) on receipt of report of the Registrar or Inspector under section 208; (b) on intimation of a special resolution passed by a company requesting an investigation into its affairs; (c) in public Interest; (d) on the request of any Department of Central Government or State Government.

Topics: Corporate Law

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