Abbreviation SFIO Federal agency India | Formed 2003 Governing body Government of India | |
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Common name Serious Fraud Investigation Office Legal personality Governmental: Government agency | ||
The Serious Fraud Investigation Office (SFIO) is a fraud investigating agency in India. It is under the jurisdiction of the Ministry of Corporate Affairs, Government of India. The SFIO is involved in major fraud probes and is the co-ordinating agency with the Income Tax and CBI.
It is a multi-disciplinary organization having experts from financial sector, capital market, accountancy, forensic audit, taxation, law, information technology, company law, customs and investigation. These experts have been taken from various organizations like banks, Securities and Exchange Board of India, Comptroller and Auditor General and concerned organizations and departments of the Government. The Government approved setting up of this organization on 9 January 2003 on the basis of the recommendations made by the Naresh Chandra Committee which was set up by the Government on 21 August 2002 on corporate governance.
Organisation Structure
Agency headquarters is in the Indian capital, New Delhi, with field offices located in major cities throughout India. The SFIO draws most of its officers from the IAS, IPS and IRS. The current SFIO director is Nilimesh Baruah IRS.
The agency has 4 regional offices in Hyderabad, Mumbai, Kolkata and Chennai.