Consulting DoPT for permanent staff at SFIO: Pilot

Says services of seven experts in various fields of accountancy, banking and law, has been obtained on contract basis by SFIO

The Corporate Affairs Ministry has recruited seven experts on contract basis for various posts at the SFIO and is holding consultations on amending norms that would allow it to hire permanent staff at the agency, Parliament was informed today.

"The Ministry is in the process of consultation with the Department of Personnel and Training (DoPT) regarding permanent staff in SFIO (Serious Fraud Investigation Office) by amending the recruitment rule," Corporate Affairs Minister Sachin Pilot said in a written reply to Rajya Sabha.

Presently, recruitment at SFIO is done mainly on deputation basis from other government agencies/PSUs as per the decision of the cabinet at the time of its constitution.

SFIO falls under the Corporate Affairs Ministry and looks into violations of Companies Act by firms.

On query about recruitment of 'expert staff' at the agency, Pilot said that services of seven experts in various fields of accountancy, banking and law, has been obtained on contract basis by SFIO.

To a separate query on whether a manual is available to provide information to firms on laws and norms, Pilot said that while no 'Legal Compliance Manual' has been bought out by the government, the Indian Institute of Corporate Affairs, as part of its MoU with an agency "had facilitated the release of a ready reckoner for acquainting stakeholders with various laws including the Companies Act, 1956".

On a question on any proposed changes to the accounting standards in the Companies Act, Pilot said that no such amendment "is currently being considered".

"Examination of various rules and accounting standards under the Companies Act, 2013 is an ongoing process," Pilot said adding that the standards are amended from time to time keeping in view the requirements of the situation.