The Serious Fraud Investigation Office (SFIO) is currently probing 226 cases and in the last three years, the agency completed 11 major investigations involving 118 companies, the government said today. Minister of State for Corporate Affairs Arjun Ram Meghwal also told the Lok Sabha that more than Rs 1.3 crore fine has been imposed in 45 cases where conviction has been made in the last nearly four years. In a written reply, he said that existing provisions in the Companies Act, 2013 are sufficient for SFIO and that there is no proposal for giving more powers to the agency. Noting that 226 cases are being probed by SFIO, the Minister said in the last three years, the agency and completed "11 major investigations involving 118 companies". "During the last three years and current year, in respect of the cases filed by SFIO in various courts, conviction has been made in 45 cases wherein fine of approximately Rs 130.06 lakh has been imposed. "The punishment also included imprisonment for six months to directors of the company concerned in four cases," he said. Responding to queries related to Corporate Social Responsibility (CSR) spending, Meghwal said the policy has been made flexible to enable companies to take up more CSR projects. "Board of the CSR eligible company is empowered under the Companies Act, 2013 to allocate CSR fund across various development sectors or geographic regions. The Ministry of Corporate Affairs neither issues direction nor any advisory to companies in this regard," he noted. Under the Companies Act, 2013, certain class of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards CSR activities.