Litigation & Regulatory Representation
Serious Fraud Investigation Office (SFIO)
Legal support for defending or cooperating with SFIO investigations into corporate fraud, regulatory breaches, and Companies Act violations.
- Estimate Cost
- ₹1,00,000 – ₹10,00,000
- Typical duration
- 60 days
Service overview
Legal support for:
- Companies.
- Directors.
- Officers.
- Employees.
- Key managerial personnel.
- Other relevant stakeholders involved in SFIO investigations or proceedings.
- Assistance may include:
- Investigation support.
- Regulatory responses.
- Document and evidence review.
- Legal representation.
- Defence strategy.
- Assistance relating to serious corporate fraud.
- Assistance concerning alleged violations of the Companies Act, 2013.
Who needs it? / When is it needed?
Companies and their:
- Directors.
- Officers.
- Employees.
- Key managerial personnel.
- Other persons connected with an SFIO investigation.
- Assistance may be required upon receipt of:
- SFIO summons.
- SFIO notices.
- Requisitions for documents or information.
- Regulatory communications.
- Investigation-related requests.
- Prosecution-related proceedings.
- SFIO investigations are assigned by the Central Government under Section 212 of the Companies Act, 2013, in specified circumstances.
- Such circumstances may include:
- Matters involving public interest.
- Reports from Government authorities.
- Requests from Government authorities.
- Other circumstances prescribed under the Companies Act, 2013.
What to expect from the WCP Professionals
WCP professionals support you with:
- Assessment of the investigation and applicable legal framework.
- Review of SFIO notices, summons, and requisitions.
- Preparation of responses and legal representations.
- Assistance with organising and reviewing corporate records.
- Document and evidence review.
- Preparation for interactions with investigating officers.
- Legal and regulatory research.
- Coordination with forensic and accounting professionals, where required.
- Representation or defence in related proceedings.
- Guidance on compliance with investigation-related requirements.
Key deliverables
Deliverables cover:
- Investigation-response strategy.
- Legal assessment of the matter.
- Review of SFIO summons and notices.
- Document and evidence review.
- Written responses and representations.
- Compilation of supporting documents.
- Preparation for:
- Statements.
- Interviews or interactions with investigating officers.
- Other investigation proceedings.
- Compliance guidance.
- Representation assistance.
- Prosecution-response strategy.
- Post-investigation legal advice.
Standard turnaround time
Turnaround time depends on:
- Nature and urgency of the investigation.
- Deadlines specified in SFIO communications.
- Volume of records.
- Complexity of the documents and issues involved.
- Number of persons or entities involved.
- Availability of relevant information.
- Urgent responses to summons, notices, or requisitions will be handled according to the applicable deadline.
Government fees, timelines & key outcomes
- Government Fees
- There is no single standard Government fee applicable to every SFIO investigation.
- Any applicable:
- Statutory court fees.
- Filing charges.
- Procedural expenses.
- Other expenses arising from subsequent proceedings.
- Such charges and expenses are separate from professional fees.
- Timelines
- Investigation timelines are case-specific.
- Timelines may depend on:
- Scope of the investigation.
- Volume and nature of records involved.
- Directions of the Central Government.
- SFIO proceedings.
- Complexity of the allegations and issues involved.
- Key Outcomes
- Effective cooperation with the investigation.
- Submission of required responses and records.
- Clarification of allegations.
- Resolution of identified compliance issues.
- Conclusion of the investigation.
- Defence in prosecution proceedings, where initiated.
- Defence or representation in other related proceedings, where applicable.
Forms & filings involved
- There is no single standard application form for responding to an SFIO investigation.
- Depending on the matter, filings and submissions may include:
- Replies to summons or notices.
- Written statements.
- Legal representations.
- Affidavits.
- Document submissions.
- Undertakings.
- Applications before the competent authority.
- Applications before the competent court.
- Other submissions required during the investigation.
- Filings required in subsequent proceedings.
- SFIO investigations follow the applicable procedure prescribed under Chapter XIV of the Companies Act, 2013.
Documents required
- SFIO summons and notices.
- Previous correspondence with SFIO or other authorities.
- Incorporation and constitutional documents.
- Statutory registers and filings.
- Financial statements.
- Accounting records.
- Bank statements and transaction records.
- Board and shareholder documents.
- Contracts and agreements.
- Internal reports.
- Emails and other relevant communications.
- Regulatory filings.
- Audit records.
- Forensic records and reports.
- Any other documents specifically requested by SFIO.
- Other records relevant to the allegations or investigation.
What we need from you
- Complete details of the company and persons involved.
- Factual background of the matter.
- Copies of all SFIO summons, notices, and communications.
- Investigation-related documents.
- Details of previous submissions or interactions with SFIO or other authorities.
- Relevant corporate records.
- Relevant financial and accounting records.
- Information regarding ongoing:
- Litigation.
- Regulatory proceedings.
- Investigations.
- Other related proceedings.
- Clear instructions regarding:
- The intended response.
- The desired outcome.
- The proposed defence strategy.
Important conditions
SFIO investigations must be handled in accordance with:
- The Companies Act, 2013.
- Specific directions issued by the Central Government.
- Requirements communicated by SFIO.
- Other applicable legal and procedural requirements.
- Persons receiving SFIO summons or requisitions must carefully comply with:
- Applicable procedural requirements.
- Prescribed timelines.
- Requirements for production of documents or information.
- SFIO exercises investigative powers under the Companies Act, including:
- Investigation powers under Section 212.
- Investigation-related summons under Section 217.
- The precise legal strategy will depend on:
- Nature of the allegations.
- Status and stage of the investigation.
- Role of the person involved.
- Documents and evidence available.
- Applicable statutory provisions.
- Facts and circumstances of the matter.
Additional information
SFIO is a multidisciplinary organisation with expertise in areas including:
- Law.
- Accountancy.
- Forensic auditing.
- Banking.
- Taxation.
- Information technology.
- Investigation.
- Company law.
- Capital markets.
- The service may cover assistance from:
- Initial receipt of an SFIO summons or notice.
- Investigation-stage assistance.
- Document and evidence review.
- Preparation of responses.
- Regulatory coordination.
- Interaction with investigating authorities.
- Prosecution proceedings, where applicable.
- Other related proceedings.
- SFIO has introduced safeguards for verifying the authenticity of its summons and notices.
- Verification mechanisms may include:
- QR codes.
- Unique Document Identification Numbers (UDINs/document identification mechanisms, as applicable).
- Online verification mechanisms.
The estimated cost covers indicative professional fees only. Government fees, stamp duty and taxes are payable at actuals.
How it works
- 1. Raise a service enquiry describing your requirement.
- 2. A Relationship Manager reviews it and opens it for bidding.
- 3. Pay into escrow and assign the professional you select.
- 4. Track progress to completion, then accept and release payment.
Frequently asked questions
What does the SFIO investigate?
Serious corporate fraud under the Companies Act, 2013, on assignment by the Central Government under Section 212.
Can the SFIO arrest?
Yes, authorised officers can arrest for specified offences, subject to safeguards under Section 212(8).
Is bail difficult in SFIO cases?
Bail for offences under Section 447 is subject to twin conditions in Section 212(6), making it harder than ordinary bail.
Should I appear when summoned?
Yes, with legal advice and the documents sought; non-compliance can have serious consequences.