March 8, 2016 8:24 PM

printer

Govt orders SFIO probe against 196 companies

Government has ordered Serious Fraud Investigation Office (SFIO) probe for alleged fraud against 196 companies during last three years. In a written reply in the Rajya Sabha today, Corporate Affairs Minister Arun Jaitley said the SFIO probe was ordered with respect to 42 companies in the current financial year till December. He said the SFIO was asked to probe the affairs of 83 companies in 2013-14 and the number stood at 71 in 2014-15. <br/><br/>Mr. Jaitley said these cases involve allegations of fraud through running of schemes by companies for collecting money from the public, siphoning off and diversion of funds by the promoter and manipulation of books of accounts and other records. On a query related to start-ups, the Minister said there is no estimate of investment in such entities.

Most Read
View All arrow-right

No posts found.