Serious Fraud Investigation Office
Published on 22 Mar 2025
The Supreme Court, while dismissing a petition
for quashing a complaint filed by the Serious
Fraud Investigation Office (SFIO), has left a
crucial question of law open i.e., whether SFIO
are police officer(s) under the Code of Criminal
Procedure, 1973.
- SFIO is a multi-disciplinary body which comes
under the Ministry of Corporate Affairs.
- It was set up in 2003 by government resolution
on the recommendations given by the
Naresh Chandra Committee.
- Later, SFIO was granted statutory status in
2013 as per Section 211 of the Companies Act,
2013.
- The primary objective of SFIO is to investigate
and to detect and prosecute or recommend
to prosecute white-collar frauds or crimes.
- SFIO is headed by a Director in the rank of
Joint Secretary to the Government of India.
Types of Cases taken up by SFIO:
- Complex cases needing investigation
across multi-discipline and inter
departmental affairs.
- Cases with a huge monetary impact on
the public.
- Cases where investigation can lead to
the cleaning up of systems and the
implementation of changes in laws and procedures. Serious fraud cases sent by the
Department of Company Affairs.
- SFIO can also take up cases on its own with
the prior approval from the Director of the
SFIO.