The latest SFIO report also has a mention of former finance minister P Chidambaram based on a passing reference made by C Sivasankaran during the investigation.
Four Maharashtra-based companies admitted to investigators that were just ‘shell’ entities used to deposit cash worth Rs 450 crore
A source told Moneycontrol that the MCA’s Registrar of Companies had carried out an extensive investigation into these companies and found several instances of funds being siphoned off.
CNBC-TV18 learns from sources privy to the matter that SFIO has sought information from investors and active trading entities on various aspects of transactions through an exhaustive list of questions.
As many as 24 companies have been referred to the Serious Fraud Investigation Office (SFIO) for allegedly running illegal money raising schemes in the current fiscal, the government said today.
The Serious Fraud Investigation Office (SFIO) has sought specific details from trading clients of the NSEL in the nearly Rs 5,600 crore scam at the now defunct spot exchange.
The Serious fraud Investigation office (SFIO) has shot off notices to all broking firms whose clients traded in commodity pair contracts on the National Spot Exchange. The brokers have been asked to furnish their books of accounts, a source told Moneycontrol.
The Serious Fraud Investigation Office (SFIO) today told the Supreme Court that 23 states and Union territories have enacted special laws, the Protection of Interest of Depositors (in Financial Establishments) Act, to protect depositors and were empowered to take action against any scheme promising "abnormal return".
The suspected misdoings at Ricoh India is likely to be the biggest corporate fraud involving a local company after the Satyam scandal came to light in 2009.
"Banks have been asked to provide all the details of the loans given to the Kingfisher Airlines. The agency wants to know whether all the procedures were followed by the lenders while giving loans to the airlines," a banking source said, adding the details have been furnished.
The government on May 10 said not a single company is placed in the category of vanishing companies over the past five years.
The Serious Fraud Investigation Office, the agency with a mandate to probe white-collar crimes, is investigating the long-grounded Kingfisher Airlines for alleged financial irregularities, Parliament was informed on May 10.
SFIO is believed to have doubts that the lease amount was inflated on the books of KFA and has asked the Directorate General of Civil Aviation (DGCA) to submit related lease rental documents, sources say.
The agency is waiting to hear from the Enforcement Directorate (ED) on alleged foreign exchange management act by the king of good times, who has now been summoned to the ED on the April 2.
There are two offshore accountsâ€” in Isle of Man and Panamaâ€”used in the acquisition of Shaw Wallace Distilleries which are part of Vijay Mallya's US expansion plans.
The case which rocked India Inc and led to a massive upheaval in the software and Information Technology Enabled Service (ITES) industry in the country was investigated by the Central Bureau of Investigation.
A local court on Monday convicted Satyam founder B Ramalinga Raju, accused of one of the most sensational corporate frauds in the country, and other accused in connection with complaints filed by Serious Fraud Investigation Office (SFIO).
The companies that are under scrutiny are Unitech, DLF, GMR, Sesa Sterlite and United Spirits.
The Serious Fraud Investigation Office (SFIO) has sought more time to submit its final report on the chit funds scam perpetrated by Saradha and other firms.
In its FIR filed with police last year, Reebok had alleged financial fraud to the tune of Rs 870 crore at the company by certain persons including senior executives of its India arm.
An inter-ministerial panel, headed by Economic Affairs Secretary Arvind Mayaram, is looking into the NSEL issue. When asked about probe by the Serious Fraud Investigation Office (SFIO), the Minister said a final call would be taken once the panel finalises its views.
The serious fraud investigation office (SFIO) that was tasked to probe Reebok India has confirmed falsification of books of accounts in the company to the tune of over 1,400 crore.
In the wake of an alleged fraud involving thousands of crores by Kolkata-based Saradha group, the Centre on Thursday ordered a SFIO probe into suspected misuse of the public money by various chit fund companies.
The serious fraud investigation office (SFIO) probing the Singapore-based Speak Asia has found that that the web-based company remitted Rs 700 crore out of India
Based on the recommendations of Serious Fraud Investigation Office (SFIO), government has initiated prosecution proceedings against Sesa Goa for violation of certain provisions of the Companies Act, reports Business Standard.