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Sunrise Ventures Ltd. is accused of serious corporate fraud and the government wants the matter investigated and prosecuted. Under the Companies Act, 2013, which body is specifically empowered to investigate such frauds in companies?

The Serious Fraud Investigation Office is the body empowered under the Companies Act, 2013 to investigate serious corporate fraud. SAT hears appeals from SEBI orders and CCI deals with competition, while the Registrar mainly handles registration and filings.

  1. ASerious Fraud Investigation OfficeCorrect
  2. BSecurities Appellate Tribunal
  3. CRegistrar of Companies acting alone as a civil court
  4. DCompetition Commission of India

Explanation

The Companies Act, 2013 gives statutory status to the Serious Fraud Investigation Office (SFIO), which investigates complex corporate frauds. SAT hears appeals against SEBI orders, not fraud investigations. CCI deals with anti-competitive practices. The Registrar of Companies handles registration and filings, not the investigation of serious fraud.

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