SFIO Current Affairs

Amardeep Singh Bhatia appointed as Director of SFIO

Senior IAS officer Amardeep Singh Bhatia was appointed as new director of Serious Fraud Investigation Office (SFIO).

He is a 1993 batch IAS officer of Nagaland cadre. At present, he is joint secretary in Ministry of Corporate Affairs.

Serious Fraud Investigation Office (SFIO)

The SFIO is a fraud investigating agency in India, under the jurisdiction of the Ministry of Corporate Affairs. The SFIO is involved in major fraud probes and is the co-ordinating agency with the Income Tax Department and the Central Bureau of Investigation (CBI).

The SFIO is a fraud investigating agency in India, under the jurisdiction of the Ministry of Corporate Affairs. It is involved in major fraud probes and is the co-ordinating agency with the Income Tax Department (IT) and the Central Bureau of Investigation (CBI). It is headquartered in New Delhi.

It was established in January 2003 based on the recommendation of Naresh Chandra Committee on corporate governance and in backdrop of stock market scams due to failure of non-banking companies resulting in huge financial loss to the public.

SFIO is a multi-disciplinary organization having experts from financial sector, accountancy, capital market, taxation, forensic audit, law, information technology, company law, customs and investigation. These experts have been taken from various organizations like banks, Securities and Exchange Board of India (SEBI), Comptroller and Auditor General (CAG) and concerned organizations and departments of Government.

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