Cases Handled by the Serious Fraud Investigation Office

Press Information Bureau

Government of India

Ministry of Corporate Affairs

30-November-2012 18:50 IST

Since inception, Serious Fraud Investigation Office (SFIO) of the Ministry of Corporate Affairs has been entrusted with 133 cases by the Ministry for investigation. Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said out of these cases, investigation in 95 cases has been completed and reports submitted to the Government, while 4 cases have been stayed/ quashed by the Courts and the remaining 34 cases are presently under investigation. Violations of various provisions of the Companies Act, 1956 and various offences involving criminal breach of trust, cheating, falsifications etc. under the Indian Penal Code have been reported by SFIO in many cases. Prosecutions in 991 cases were launched (110 under Indian Penal Code and 881 under Companies Act). Of these, conviction was ordered by the respective Courts in 39 cases relating to violations under the Companies Act, 1956. Three complaints were quashed on the ground of double jeopardy as similar complaints were filed by the Registrar of Companies, Karnataka and the remaining cases are under different stages of progress in the competent Courts, Shri Pilot informed the House.

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