Rising workload: Govt plans to treble SFIO staff strength in 3-4 months

With the insolvency and bankruptcy code kicking in, more cases have come under the scanner of SFIO, which derives its powers from the Companies Act.

The Ministry of Corporate Affairs (MCA) is planning to treble the strength of Serious Fraud Investigation Office (SFIO) in the next three to four months to build the capacity for rising number of cases.

A senior official told Business Standard that SFIO was expected to investigate 70-80 more cases on top of its current workload.

In 2016-17, the SFIO completed investigation in 87 cases and since 2003-04 it has finished probe in 312 cases. The white collar crime agency would add to its work force of forensic auditors, banking specialists, officials for corporate law, capital markets, among others. “The SFIO