Serious Frauds & Investigation (SFIO)
While the corporate world stands for legitimate business and growth, the instances of corporate frauds siphoning off huge corporate funds involving the promoters and management, are also keep on surfacing and are an unfortunate reality of the business and economy. These frauds are designed through structured and seemingly legitimate transactions of business in the normal course, to conceal the ultimate beneficiaries and perpetrators of fraud, and at times involve a number of paper entities including offshore jurisdictions to route the funds siphoned off with the connivance of sophisticated professionals.
In most of the cases the big corporate frauds comes under the category of organized crime and it requires specialized professionals to investigate these crimes going through voluminous documentary and financial evidence where the audit trail has been professionally concealed by the perpetrators. To deal with such serious frauds and investigations, specialized enforcement agencies are provided for in the corporate law.
In India the investigation of such corporate frauds is entrusted to Serious Fraud and Investigation Office (SFIO) under the Companies Act, 2013. SFIO has got wide powers to investigate including the power of arrest. Further the corporate fraud involving siphoning of huge corporate funds is a non bailable offence in India. Apart from such serious frauds, there are legal provisions to investigate into the affairs of the company on any complaint of mismanagement of the affairs of the company to defraud its creditors, members or any other persons or otherwise for any fraudulent or unlawful purpose.
VGNC has legal expertise in corporate laws and provide its legal services in the course of investigation as well as trial before the court of law and resultant appeals. It further provide its legal services for the complaints and references before the company law tribunals. Apart from that we also provide advisory services and in-house investigations to mitigate the risk of any possible corporate frauds.