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Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?
- a)It operates under the Ministry of Corporate Affairs
- b)It is involved in investigating corporate frauds
- c)It has the authority to conduct investigations without any restrictions
- d)It was established under the Companies Act, 2013
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Which of the following is NOT a characteristic of the Serious Fraud In...
The Serious Fraud Investigation Office (SFIO) operates under the Ministry of Corporate Affairs and is tasked with investigating complex corporate frauds. However, it does not have unrestricted authority; once a case is assigned to SFIO, no other investigative body is allowed to conduct an investigation for any offense under the Companies Act. This ensures that investigations are thorough and focused. An additional fact is that the SFIO was established in 2015, and it consists of experts from various fields, allowing for a multidisciplinary approach to tackling white-collar crimes.
Most Upvoted Answer
Which of the following is NOT a characteristic of the Serious Fraud In...
Understanding the SFIO
The Serious Fraud Investigation Office (SFIO) is a key agency in India responsible for investigating corporate frauds. Among the options provided, option 'A' is stated to be incorrect. Here’s a detailed explanation:
Operating Under the Ministry of Corporate Affairs
- The SFIO does indeed operate under the Ministry of Corporate Affairs. Therefore, option 'A' is a characteristic of the SFIO, not something that is not true.
Involvement in Investigating Corporate Frauds
- The SFIO is primarily tasked with investigating serious corporate frauds. This is one of its core functions, making option 'B' a true characteristic.
Authority for Investigations
- The SFIO does have significant powers to conduct investigations, but it does not act without any restrictions. It operates within the legal framework established by the Companies Act and other regulations, making option 'C' misleading as it suggests absolute authority.
Establishment Under Companies Act, 2013
- The SFIO was indeed established under the Companies Act, 2013. This makes option 'D' a correct characteristic of the SFIO.
Conclusion
- Since option 'A' states that the SFIO does not operate under the Ministry of Corporate Affairs, it is incorrect. The agency is indeed linked to this ministry, which contradicts the statement in option 'A'. Hence, it is identified as the correct answer to the question regarding which statement is NOT a characteristic of the SFIO.
The Serious Fraud Investigation Office (SFIO) is a key agency in India responsible for investigating corporate frauds. Among the options provided, option 'A' is stated to be incorrect. Here’s a detailed explanation:
Operating Under the Ministry of Corporate Affairs
- The SFIO does indeed operate under the Ministry of Corporate Affairs. Therefore, option 'A' is a characteristic of the SFIO, not something that is not true.
Involvement in Investigating Corporate Frauds
- The SFIO is primarily tasked with investigating serious corporate frauds. This is one of its core functions, making option 'B' a true characteristic.
Authority for Investigations
- The SFIO does have significant powers to conduct investigations, but it does not act without any restrictions. It operates within the legal framework established by the Companies Act and other regulations, making option 'C' misleading as it suggests absolute authority.
Establishment Under Companies Act, 2013
- The SFIO was indeed established under the Companies Act, 2013. This makes option 'D' a correct characteristic of the SFIO.
Conclusion
- Since option 'A' states that the SFIO does not operate under the Ministry of Corporate Affairs, it is incorrect. The agency is indeed linked to this ministry, which contradicts the statement in option 'A'. Hence, it is identified as the correct answer to the question regarding which statement is NOT a characteristic of the SFIO.
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Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?a) It operates under the Ministry of Corporate Affairsb) It is involved in investigating corporate fraudsc) It has the authority to conduct investigations without any restrictionsd) It was established under the Companies Act, 2013Correct answer is option 'A'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?a) It operates under the Ministry of Corporate Affairsb) It is involved in investigating corporate fraudsc) It has the authority to conduct investigations without any restrictionsd) It was established under the Companies Act, 2013Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?a) It operates under the Ministry of Corporate Affairsb) It is involved in investigating corporate fraudsc) It has the authority to conduct investigations without any restrictionsd) It was established under the Companies Act, 2013Correct answer is option 'A'. Can you explain this answer?.
Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?a) It operates under the Ministry of Corporate Affairsb) It is involved in investigating corporate fraudsc) It has the authority to conduct investigations without any restrictionsd) It was established under the Companies Act, 2013Correct answer is option 'A'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?a) It operates under the Ministry of Corporate Affairsb) It is involved in investigating corporate fraudsc) It has the authority to conduct investigations without any restrictionsd) It was established under the Companies Act, 2013Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?a) It operates under the Ministry of Corporate Affairsb) It is involved in investigating corporate fraudsc) It has the authority to conduct investigations without any restrictionsd) It was established under the Companies Act, 2013Correct answer is option 'A'. Can you explain this answer?.
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Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?a) It operates under the Ministry of Corporate Affairsb) It is involved in investigating corporate fraudsc) It has the authority to conduct investigations without any restrictionsd) It was established under the Companies Act, 2013Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?a) It operates under the Ministry of Corporate Affairsb) It is involved in investigating corporate fraudsc) It has the authority to conduct investigations without any restrictionsd) It was established under the Companies Act, 2013Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Which of the following is NOT a characteristic of the Serious Fraud Investigation Office (SFIO)?a) It operates under the Ministry of Corporate Affairsb) It is involved in investigating corporate fraudsc) It has the authority to conduct investigations without any restrictionsd) It was established under the Companies Act, 2013Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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