SFIO investigating 21 cases in 2017-18


SFIO investigating 21 cases in 2017-18;
RoCs and RDs assigned 119 cases to investigate in 2017-18;
Various Courts levy penalty of Rs 5,90,909 in last three years in cases

Union Minister of State for Law & Justice and Corporate Affairs Shri P.P. Chaudhary said in Rajya Sabha today that the Government has established Serious Fraud Investigation Office (SFIO) to look into serious corporate frauds including Multi-National Companies (MNCs). The details of investigations assigned to SFIO are:


Year

Total Investigation cases assigned to SFIO

2015-16

23 involving 184 entities

2016-17

25 involving 111 entities

2017-18

21 involving 225 entities


The Corporate Affairs Minister further informed the House of the investigations assigned to Regional Directors (RDs) and Registrars of Companies (ROCs):


Year

Total Investigation cases assigned to RDs and ROCs

2015-16

02

2016-17

03

2017-18

119


The Corporate Affairs Minister said that during the last three years, 94 complaints/prosecution were disposed of by the various Courts by levying a total fine of Rs 5,90,909/-. In addition to this, an amount of Rupees 61,32,500/- was collected as compounding fee as ordered by the Courts. Further, in one case imprisonment for a period of one year and four months and in 3 cases punishment till rising of Courts along with fine was also imposed by the Courts.

This was stated by Union Minister of State for Law & Justice and Corporate Affairs Shri P.P. Chaudhary in Rajya Sabha today.


 
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