SFIO probe ordered in six cases till June-end of FY'20

The government has ordered SFIO probe in six cases, including that of Jet Airways and its six entities, in the first three months of the current financial year.

The Serious Fraud Investigation Office (SFIO), which probes white-collar crimes, comes under the corporate affairs ministry.

In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Anurag Thakur said the SFIO has vast powers under the Companies Act, 2013.

"Based on a well laid down process, cases that involve prima-facie findings of fraud are referred to the SFIO," he added.

As per data provided along with the written reply, the ministry ordered SFIO investigations in six cases till end of June in the current fiscal.

Apart from Jet Airways and its six group entities, probe was ordered against Punj Lloyd Ltd and Pancard Club, the data showed.

Investigation has also been ordered against Pailan Park Development Authority, its 17 entities; Bengal India Global Infrastructure Ltd, its two entities; and Amrit Projects Ltd as well as its five entities. The three companies are based in West Bengal, according to the data.