Under the Companies Act 2013, the 'Serious Fraud Investigation Office' (SFIO) is empowered to investigate frauds that are: MCQ with Answer and Explanation
Under the Companies Act 2013, the 'Serious Fraud Investigation Office' (SFIO) is empowered to investigate frauds that are:
A. Involving public interest
B. Above ₹10 Crores or involving public interest
C. Only related to listed companies
D. Of any amount
Answer: Option B
Solution (By JKSSB Mock Tests)
As per the Companies Act and related notifications, the SFIO (now often operating under the EBOW) investigates cases involving ₹10 Crores or more, or cases that involve public interest, or affect multiple states.
Explanation:
Historically, Indian government accounting is primarily cash-based, tracking the actual flow of funds into and out of government treasuries.
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