ESTABLISHMENT OF THE SERIOUS FRAUD OFFICE
The Department of Company Affairs has set up a Serious Fraud Office (SFO) as part of a new push to crack down on company fraud and improve corporate governance. The SFO will investigate economic crimes such as bribery by companies trying to win lucrative deals. The SFO which is to be part of the Department of Company Affairs will investigate company finances and prosecute them in cases where there has been violation of corporate laws.
The establishment of the SFO has come as part of a general climate of change in corporate governance in India. The government is contemplating to set up a National Centre for Corporate Governance as a joint initiative with the private sector. A committee is also recently ...
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