Net India Ltd. has been under investigation by the Central Bureau of Investigation (CBI) in the public interest. However the investigation was assigned by central government to Serious Fraud Investigation Office (SFIO).

Section 212(2) of Companies Act, 2013 provides that where any case has been assigned by the Central Government to the Serious Fraud Investigation Office for investigation under this Act, no other investigating agency of Central Government or any State Government shall proceed with investigation in such case in respect of any offence under this Act and in case any such investigation has already been initiated, it shall not be proceeded further with and the concerned agency shall transfer the relevant documents and records in respect of such offences under this Act to the SFIO. Section 212(2) provides a superseding power only to SFIO and not to any other investigating agency, CBI cannot proceed with the investigation; it has to transfer all relevant documents to SFIO.