Government orders Serious Fraud Investigation Office probe against 360 companies in last 3 yrs

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New Delhi | July 29, 2016 5:12 PM

Corporate Affairs Ministry ordered SFIO probe against 360 companies for alleged fraud in the past three years, Parliament was informed today.

SFIO, which comes under the ministry, has filed six complaints in different courts and fora in the current fiscal. It filed 53 complaints in 2015-16 and the number stood at 86 in 2014-15 and 94 in 2013-14. (Source: Website)SFIO, which comes under the ministry, has filed six complaints in different courts and fora in the current fiscal. It filed 53 complaints in 2015-16 and the number stood at 86 in 2014-15 and 94 in 2013-14. (Source: Website)

Corporate Affairs Ministry ordered SFIO probe against 360 companies for alleged fraud in the past three years, Parliament was informed today.

In a written reply to the Lok Sabha today, Minister of State for Corporate Affairs Arjun Ram Meghwal said the ministry has ordered investigation through Serious Fraud Investigation Office (SFIO) involving 360 companies during the last three years and the current fiscal.

During this period, investigation of 154 firms has been completed and probe involving 226 companies is pending.

SFIO, which comes under the ministry, has filed six complaints in different courts and fora in the current fiscal. It filed 53 complaints in 2015-16 and the number stood at 86 in 2014-15 and 94 in 2013-14.

“During this period, in respect of the cases filed by SFIO, conviction has been made in 45 cases, wherein fine of approximately Rs 130.06 lakh have been imposed. In four cases, directors of the company concerned have been sentenced to imprisonment for six months,” Meghwal said.

Besides, as many as 709 prosecution cases have been filed in 2016-17 by registrars of companies.

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