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. (PIB)
Union Minister of State for Law & Justice and Corporate Affairs Shri P.P. Chaudhary said in Rajya Sabha today that the Ministry has established Centralised Scrutiny and Prosecution Mechanism (CSPM) in April, 2018 for the financial year 2015-16 onwards on pilot basis for enforcement of CSR provisions. CSPM has been tasked to start with examination of records of top 1,000 companies mandated to spend on CSR. Based on inquiry, preliminary notices have been issued to 272 companies.
This was stated by Union Minister of State for Law & Justice and Corporate Affairs Shri P.P. Chaudhary in Rajya Sabha today. (PIB- 07.08.2018)
