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The Serious Fraud Investigation Office (SFIO) was established to investigate corporate frauds. It started functioning from:
Answer & Solution
Correct answer: B.
1. The Lesson 1 paragraph on SFIO states that the Organisation has been established and started functioning since 1st October, 2003.
2. The SFIO is a multi-disciplinary body investigating white-collar crimes/frauds across accountancy, forensic auditing, law, IT, capital market and taxation.
3. NFRA was constituted on 01-Oct-2018 and NCLT/NCLAT on 01-Jun-2016 — different dates.
4. 1-April-2014 is the major operational commencement date for the Companies Act, 2013, not SFIO.
_Source: ICSI CS Executive Paper 2 (Company Law) — Lesson 1: Introduction to Company Law, pp. 2-35._
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