Known best for its probe into the Satyam scam in 2009-10, SFIO is again making headlines, thanks to various high-profile cases of alleged frauds being referred to it in the last few months.
The government, on January 13, had initiated an SFIO probe into various corporate aspects of the fraud under Section 235 of the Companies Act after getting a report from the registrar of companies, Andhra Pradesh. "The report was submitted to the government on Monday night," said a senior corporate affairs ministry official who declined to reveal the contents of the report.
The UK High Court has rejected Nirav Modi's attempt to reopen his extradition case, citing the Indian government's comprehensive assurances against torture as sufficient to allow his transfer to India.
Dungarpur Police have arrested three individuals involved in an organized gang allegedly siphoning money from life insurance policies using forged documents, with the fraud involving approximately Rs 58 lakh.
A Delhi court has dismissed the bail plea of an alleged kingpin in an over Rs 8.94 crore bank fraud case, citing the gravity of the offence and its systematic execution through layered transactions.
A Kerala MLA, K Shantakumari, was targeted by a cyber fraud gang impersonating Anti-Terrorism Squad officers, who claimed she was linked to a bomb blast case. She reported the incident to the cyber cell after uncovering their deception.
Private-sector lender IndusInd Bank had said the Serious Fraud Investigation Office (SFIO) interacted with its officials this week and would send a written communication seeking specific details related to the accounting discrepancies identified at the bank.
Self-styled godman Ashok Kharat, already facing rape charges, is now under investigation for suspicious financial activities involving numerous accounts and large transactions.
Delhi Police have arrested a woman and her associate for allegedly running a honey-trap and extortion racket, targeting victims with false criminal cases to coerce monetary settlements.
An FIR has been filed regarding alleged discrepancies in Panchkula Municipal Corporation's fixed deposit receipts (FDRs) of nearly Rs 150 crore held at a Kotak Mahindra Bank branch, leading to a state-level investigation.
A Kerala MLA, K Shantakumari, was targeted by cyber fraudsters claiming a connection to a bomb blast case and using her identity. The MLA reported the incident to the cyber cell after her son identified inconsistencies in the video call.
Opposition parties are demanding the resignation of Maharashtra State Women's Commission chairperson Rupali Chakankar due to her alleged connections with a self-proclaimed numerologist, Ashok Kharat, who has been arrested for rape and exploitation.
Two members of the Sunil Rathi gang have been arrested for allegedly extorting businessmen in Haridwar and Dehradun. The arrests were made by a joint team of Uttarakhand Police STF and Dehradun Police. The investigation revealed links to Sunil Rathi, who is currently in jail.
Opposition parties in India have submitted notices seeking the removal of Chief Election Commissioner Gyanesh Kumar, citing concerns over his appointment, conduct, and alleged manipulation of electoral processes.
Serious Fraud Investigation Office will probe the airline for instances of fund diversions and large-scale irregularities.
The caller told the victim that a bank account linked to his mobile number had allegedly received Rs 7 crore through money laundering activities and warned that he would be arrested in the case.
In a significant development, the Supreme Court on Tuesday sought responses from the Centre, CBI, ED, Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving the ADAG and its group companies.
Coming against the backdrop of rising incidence of financial frauds, the proposed prediction model would bolster SFIO's capabilities in detecting misdoings at the initial stage itself.
Decision on probing the role of auditors will be taken after initial inquiry
A forensic probe has been ordered into alleged irregularities by the department of financial services.
The ED is also probing alleged violations of foreign exchange rules by the company since 2006.
A good example of just how little comes to light are the series of serious allegations made by the Ambani scions in their fight over the years of wrongdoing by each other - none of these are anything that the MCA came up with, nor have they been seriously investigated afterwards.
A large number of NRIs having origins in these states are understood to have been defrauded by many such companies, including the Saradha group.
Corporate Affairs Secretary Naved Masood said SFIO is finalising the report on Reebok.
German sportswear maker Adidas has disclosed to the Serious Fraud Investigation Office (SFIO) that it lost around Rs 170 crore (Rs 1.7 billion) because of "goodwill impairment" after it bought Reebok.
"The scope of SFIO investigation include looking into the state of affairs of the company and its subsidiary Sesa Industries Ltd, in respect of mismanagement, malpractices, financial and other irregularities."
The Supreme Court granted bail to Arvind Dham in a money laundering case, emphasizing that prolonged incarceration without trial violates the right to a speedy trial under Article 21 of the Constitution.
The economic offence investigation wing of the government SFIO would take at least a year to probe the financial fraud at Satyam Computer, a senior official said on Wednesday.
The government is considering initiating a probe by the Serious Fraud Investigation Office (SFIO) against Gensol Engineering and its promoters, according to sources familiar with the matter. "It is under consideration at this stage. A final decision will be taken soon," a government official said.
A retired banker in Delhi lost his entire life savings, amounting to Rs 23 crore, to cyber fraudsters who posed as ED and CBI officers. The victim was kept under 'digital arrest' for over a month and forced to transfer funds under duress.
The Lucknow police have uncovered a cheating racket that mimicked the style of exam fraud seen in the first Munnabhai film, where real candidates were replaced by professional impersonators to sit for competitive exams.
The Bombay High Court discharged Adani Group Chairman Gautam Adani and Managing Director Rajesh Adani from a case of alleged violations of market regulations involving nearly Rs 388 crore. The Serious Fraud Investigation Office (SFIO) had initiated the case in 2012 against Adani Enterprises Limited (AEL) and its promoters, accusing them of criminal conspiracy and cheating. The HC's single bench of Justice R N Laddha quashed the sessions court order and discharged the duo from the case.
Fraud investigation office is yet to get a verdict in any case.
'Everyone involved in this transaction must be punished and penalised.'
The investigative arm of corporate affairs ministry says there may also be involvement of others in alleged fraud, besides top executives.
Female students alleged that Saraswati used abusive language, sent obscene messages, and made unwanted physical advances.
SFIO official refuses to reveal the nature of additional charges found during investigation.
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