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  • SFIO informs SC it has prepared report on irregularities in Unitech, seeks permission to file it in sealed cover Sep 29, 2021 03:32 PM IST

    SFIO informs SC it has prepared report on irregularities in Unitech, seeks permission to file it in sealed cover

    The Supreme Court bench permitted SFIO to file the report in a sealed cover and has listed the matter for further hearing on October 6.

  • Rakesh Jhunjhunwala invested company under SFIO gaze over charges of cheating, diversion of funds   Jul 29, 2020 11:11 AM IST

    Rakesh Jhunjhunwala invested company under SFIO gaze over charges of cheating, diversion of funds  

    The corporate affairs ministry ordered a probe after RoC found that the company allegedly diverted Rs 1,000 crore and also failed to pay Rs 150 crore in interest.

  • SFIO to probe Jaiprakash Associates, Jaypee Infratech for financial irregularities May 27, 2020 05:10 PM IST

    SFIO to probe Jaiprakash Associates, Jaypee Infratech for financial irregularities

    Jaypee group, which is into construction, cement, power, real estate, hotel and hospital businesses, has been facing crisis in the last few years due to defaults in debt repayments and huge delays in completion of housing projects in Noida and Greater Noida.

  • MCA orders SFIO probe in Cox & Kings: Sources Nov 07, 2019 06:17 PM IST

    MCA orders SFIO probe in Cox & Kings: Sources

    The Ministry of Corporate Affairs (MCA) has ordered a Serious Fraud Investigation Office probe in travel firm Cox & Kings after it uncovered prima facie evidence of siphoning of money, a source told Moneycontrol.

  • MCA orders SFIO probe into CG Power: Sources Nov 07, 2019 05:28 PM IST

    MCA orders SFIO probe into CG Power: Sources

    The MCA ordered an SFIO probe on the recommendations of the Western Regional Director of the MCA, which, in its report on CG Power submitted last month, found diversion of funds.

  • Govt likely to order SFIO probe into DHFL financial irregularities Oct 29, 2019 01:20 PM IST

    Govt likely to order SFIO probe into DHFL financial irregularities

    The Registrar of Companies, Mumbai office, has submitted its report on Dewan Housing Finance Corporation (DHFL) to the Ministry of Corporate Affairs a couple of days ago, an official said.

  • NSEL case: EOW arrests 2 auditors of EY associate SV Ghatalia Oct 04, 2019 07:55 PM IST

    NSEL case: EOW arrests 2 auditors of EY associate SV Ghatalia

    The two officials have been arrested in connection with a National Spot Exchange Limited (NSEL) scam, six years after it first came to light.

  • Govt moves NCLAT against NCLT orders directing probe into cos' affairs by SFIO Sep 22, 2019 12:25 PM IST

    Govt moves NCLAT against NCLT orders directing probe into cos' affairs by SFIO

    The SFIO contended the NCLT does not have the jurisdiction to direct an investigation into the affairs under the provisions of the Companies Act.

  • BSR & Associates gets temporary relief from HC in IFIN audit case Sep 04, 2019 10:11 PM IST

    BSR & Associates gets temporary relief from HC in IFIN audit case

    The fraud investigation agency had filed the case against the audit firm before a special court in Mumbai and the proceedings were being heard by a bench of the National Company Law Tribunal (NCLT).

  • Setback for Deloitte, BSR Associates as NCLT reiterates jurisdiction to ban auditors Aug 09, 2019 06:41 PM IST

    Setback for Deloitte, BSR Associates as NCLT reiterates jurisdiction to ban auditors

    This order is huge set back to Delliotte and BSR Associates which is part of KPMG group. Deliotte spokesperson said ““We note the NCLT’s ruling, which is unfortunate. We will review the order and decide on a course of action shortly. DHS LLP remains committed to high standards of audit quality and ethical conduct in its professional practice. The firm has faith in the regulatory and judicial processes and will continue to cooperate fully with the authorities.”

  • SFIO seeks action against Bhushan Steel's lenders, including SBI, PNB, LIC Jul 24, 2019 06:09 PM IST

    SFIO seeks action against Bhushan Steel's lenders, including SBI, PNB, LIC

    In its report that runs into over 70,000 pages, the investigating agency has charged officials of 13 banks of being hand-in-glove with the Bhushan Steel promoters

  • IL&FS: NCLT allows govt to prosecute auditors Deloitte, BSR; C Sivasnkaran & 2 independent directors Jul 18, 2019 10:25 PM IST

    IL&FS: NCLT allows govt to prosecute auditors Deloitte, BSR; C Sivasnkaran & 2 independent directors

    The NCLT in an order posted on its website on July 18 said the corporate affairs ministry can go ahead with prosecution based on the findings of the probe conducted by the Serious Fraud Investigation Office (SFIO).

  • SFIO probe finds IL&FS head Parthasarthy’s wife had business dealings with C Sivasankaran Jul 16, 2019 07:29 PM IST

    SFIO probe finds IL&FS head Parthasarthy’s wife had business dealings with C Sivasankaran

    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.

  • SFIO probe ordered in six cases till June-end of FY'20 Jul 15, 2019 08:04 PM IST

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

    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.

  • Allahabad Bank reports Rs 1,774 crore fraud by Bhushan Power and Steel Jul 13, 2019 05:27 PM IST

    Allahabad Bank reports Rs 1,774 crore fraud by Bhushan Power and Steel

    Bhushan Power & Steel defaulted on Rs 47,700 crore worth of loans in 2017 and was one of the 12 cases referred for resolution under Insolvency and Bankruptcy Code.

  • SFIO probe reveals ex-IL&FS brass used pressure tactics for favourable ratings Jul 03, 2019 05:54 PM IST

    SFIO probe reveals ex-IL&FS brass used pressure tactics for favourable ratings

    The investigation revealed that Arun K Saha, the former joint Managing Director of IL&FS, threatened to discontinue business to the rating agencies if they gave unfavourable ratings.

  • Editor's Take | Why arrests in IL&FS saga is an important milestone Jun 20, 2019 05:10 PM IST

    Editor's Take | Why arrests in IL&FS saga is an important milestone

    ED will now look into the evidence of money laundering by the officials and find money trails related to the official's account.

  • IL&FS saga: Enforcement Directorate initiates probe against Siva Group companies Jun 11, 2019 09:16 PM IST

    IL&FS saga: Enforcement Directorate initiates probe against Siva Group companies

    C Sivasankaran, promoter of Siva Group, had arranged hospitality and other amenities for IL&FS Chairman Ravi Parthasarathy, director Vibhav Kapoor, and vice-chairman Hari Sankaran, SFIO has said in its report.

  • IL&FS mess: SFIO probe reveals SEBI, auditor oversight in NCD end use Jun 11, 2019 01:35 PM IST

    IL&FS mess: SFIO probe reveals SEBI, auditor oversight in NCD end use

    According to documents filed by the SFIO, IL&FS has outstanding NCDs of over Rs 25,000 crore.

  • IL&FS case: SFIO recommends action against auditors, action for recovery of losses Jun 04, 2019 04:54 PM IST

    IL&FS case: SFIO recommends action against auditors, action for recovery of losses

    The huge scam came to light last year after IL&FS and its subsidiaries defaulted on several debt repayments due to a severe liquidity crisis.

  • MCA orders SFIO probe into Jet Airways on suspicion promoters siphoned off money May 09, 2019 01:04 PM IST

    MCA orders SFIO probe into Jet Airways on suspicion promoters siphoned off money

    The MCA wants to look into several instances where Jet had written off investments in various subsidiary companies without any apparent reason.

  • Patiala House Court grants SFIO 2-day custody of ex Bhushan Steel CFO May 03, 2019 10:35 PM IST

    Patiala House Court grants SFIO 2-day custody of ex Bhushan Steel CFO

    Nittin Johari is accused of being the prime perpetrator who manipulated letters of credit (LCs) by filing false documents to avail funds from various banks.

  • ED registers money-laundering case against former IL&FS top brass, raids company's offices Feb 20, 2019 12:50 PM IST

    ED registers money-laundering case against former IL&FS top brass, raids company's offices

    The Enforcement Directorate (ED) has registered a case against former top officials of IL&FS, including its former chairman Ravi Parthasarathy, under the Prevention of Money Laundering Act (PMLA).

  • Will Chandra’s mea culpa put Zee’s future at stake? Jan 26, 2019 02:27 PM IST

    Will Chandra’s mea culpa put Zee’s future at stake?

    Controversies and allegations are not new for Zee promoter Subhash Chandra. But every time, Chandra has managed to forge ahead. Will he succeed this time too?

  • NCLT allows govt to open IL&FS group companies' past financial statements Jan 01, 2019 06:44 PM IST

    NCLT allows govt to open IL&FS group companies' past financial statements

    The National Company Law Tribunal allowed the government's plea for re-opening and re-casting of financial accounts of IL&FS and its group companies.

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