Which one of the following statements regarding the Serious Fraud Investigation Office (SFIO) under the…
The SFIO is headed by a Director who must be an officer of at least Joint Secretary rank, with knowledge and experience in corporate affairs. Requiring a minimum rank of…
Choose your answer
Which one of the following statements regarding the Serious Fraud Investigation Office (SFIO) under the Companies Act, 2013 is NOT correct?
Answer and explanation
Correct answer B
The SFIO is headed by a Director who must be an officer of at least Joint Secretary rank, with knowledge and experience in corporate affairs. Requiring a minimum rank of Secretary overstates the qualification in section 211. The Central Government establishes the office, may assign an investigation in the public interest, and receives its investigation report.
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