Serious Fraud Investigation Office (SFIO) (Law and Practice)

............................................................................................
Description
Complete Revised and Updated with the Latest Judgments and case Laws
Incorporating Relevant Sections of
Bharatiya Nyaya Sanhita, 2023
Bharatiya Nagarik Suraksha Sanhita, 2023
Bharatiya Sakshya Adhiniyam, 2023
(Notified to be Effective from 1-07-2024
Any major corporate fraud affects society at large which not only includes shareholders, creditors, bankers but also general public. Therefore, it was important to develop a mechanism which is not only fair but can also act as a deterrent. Enactment of the Companies Act, 2013 has brought in some major changes in the Regulatory Framework of Corporate Affairs in India. An important focus of the Act has been to curb economic frauds in India. For this purpose, Chapter XIV of the Companies Act has established the Serious Fraud Investigation Office (SFIO) and has provided powers and procedures for investigation by SFIO. Prior to statutory establishment of SFIO, the economic frauds were dealt by Police Authorities. The legislative framework and the resources available to Police Authorities were inadequate to tackle complex commercial criminal offences. Serious Fraud Investigation Office has been established with resources such as Computer Forensic and Data Mining Lab (CFDML), comprising of experts drawn from various fields and with enabling provisions in the Companies Act, they are able to effectively, quickly and comprehensively investigate and prosecute "Corporate Frauds".
............................................................................................
Table of Contents
Chapter 1. Introduction
Chapter 2. Historical Background of the Serious Fraud Investigation Office
Chapter 3. Present Status of the Serious Frauds Investigation Office
Chapter 4. Investigation by Agencies of the Government and the Federal Structure of the Constitution of India
Chapter 5. Offences Dealt with by SFIO
Chapter 6. Various Offences Deemed to be Fraud under section 447, Companies Act, 2013
Chapter 7. Personal Liability under section 212 of the Companies Act, 2013
Chapter 8. Difference between Section 448 and 129 of the Companies Act
Chapter 9. Initiation of Investigation by SFIO
Chapter 10. Investigation by the Serious Fraud Investigation Office
Chapter 12. Self-Incrimination under section 217(7) of the Companies Act, 2013 — The Constitutional Challenge
Chapter 13. Case Analysis of Tofan Singh v State of Tamil Nadu
Chapter 14. SFIO Power to Arrest
Chapter 15. Procedure for Bail and SFIO Investigation
Chapter 16. Analysis of SFIO v Nittin Johari
Chapter 17. Constitutional Challenge to the Provisions of Section 212 of the Companies Act, 2013 in Neeraj Singal Case
Chapter 18. Procedure for Trial after SFIO Investigation is Complete
Chapter 19. Special Courts and the Procedure to be followed under the Companies Act
Chapter 20. Inspection, Inquiry and Investigation into the Affairs of a Company under the Companies Act
Chapter 21. Ordinary Criminal Administration Framework in India
Chapter 22. Important Departures from the Procedure Prescribed under Criminal Procedure Code viz. SFIO Provisions under the Companies Act, 2013
Chapter 23. Interplay of Prevention of Money-Laundering Act and Serious Fraud Investigation Office
Chapter 24. Case Analysis of Nikesh Tarachand Shah v Union of India
Chapter 25. Overlapping of Serious Fraud Investigation Office Investigation with Other Agencies
Chapter 26. Multiple Investigation Agencies of the Central Government
Chapter 27. Prevention of Corruption Act, 1988
Appendix 1. Section 211: Establishment of Serious Fraud Investigation Office
Appendix 2. Section 212: Investigation into affairs of Company by Serious Fraud Investigation Office
Appendix 3. Section 447: Punishment for fraud
Appendix 4. Companies (Arrests in connection with Investigation by Serious Fraud Investigation Office) Rules, 2017
Appendix 5. Neeraj Singal v Union of India
Appendix 6. Serious Fraud Investigation Office v Union of India
Appendix 7. Nittin Johari v Serious Fraud Investigation Office
Appendix 8. Serious Fraud Investigation Office v Nittin Johari
Appendix 9. N. Sampath Ganesh v Union of India
Appendix 10. Union of India v Videocon Industries Ltd. & Others
Appendix 11. Union of India v Metalyst Forging Ltd.
............................................................................................
Author Details
Mr. Arvind Kumar Gupta is a leading lawyer based in Delhi handling Corporate Litigation and Advisory work for more than 28 years. He is a Graduate in B.Com (Hons) from Hindu College, Delhi University and has completed his law from Campus Law Centre, Delhi University, He has been enrolled with the Bar Council of Delhi since 1995 and has been since practicing and arguing matters for more than 2 decades in the field of Corporate Litigation, Shareholder's Disputes, Insolvency Laws and Arbitration before the Hon'ble Supreme Court, National Company Law Appellate Tribunal various High Courts and Tribunals across India He has been briefed not only by leading National & International Companies from the Business World but also numerous Law firms for their legal matters
He is the Vice President of the National Company Law Tribunal and Appellate Tribunal Bar Association and is also a Resource Person giving lectures for students and professionals at National Law University, Delhi.
For any observations and comments on the book, he can be contacted through his website www.arvindk