SFIO investigating 121 cases, says govt

As many as 121 cases are being probed by the Serious Fraud Investigation Office (SFIO), according to the government.
The agency, under the Corporate Affairs Ministry, mainly probes white collar crimes.
In a written reply to Rajya Sabha, Corporate Affairs Minister Arun Jaitley said a total of 307 cases have been referred to SFIO since its inception.
Out of them, probe has been completed in 174 cases while 121 cases are "under investigation", he noted.
Twelve cases have been "withdrawn/ quashed/ stayed by courts".
"Statutory status has been given to SFIO under Section 211 of the Companies Act, 2013. The enabling provisions contained in Sections 212, 217, 219 and 220 of the Companies Act, 2013 empower the SFIO for conducting investigations effectively," the Minister said.

From time to time, administrative and financial measures are also taken to strengthen the investigation agency.
SFIO is a multi-disciplinary organisation and has experts from various areas including financial sector, capital market, accountancy, forensic audit and taxation.
In recent months, the agency has been looking to rope in more people, including financial experts to "critically analyse" announcements made by corporate entities.