(a) whether the Government is contemplating to confer more powers/provide autonomy to
Serious Fraud Investigation Office for strengthening the corporate governance; and
(b) if so, the steps taken by the Government in this regard?
(a) whether the Government is contemplating to confer more powers/provide autonomy to
Serious Fraud Investigation Office for strengthening the corporate governance; and
(b) if so, the steps taken by the Government in this regard?
MINISTER OF THE STATE IN THE MINISTRY OF CORPORATE AFFAIRS (SHRI R.P.N. SINGH)
(a) & (b) Yes, Madam. The Companies Bill 2011,introduced in the Parliament on 14.11.2011 and referred to the Parliamentary Standing Committee on Finance, provides for amongst others that investigation report of SFIO be treated as a report filed by a Police Officer, power to issue letter of requests (letter Rogatory) in cases involving companies having business/ interest outside the country and definition of the term ‘fraud’ alongwith its punishment.