Lok Sabha Question No. 3252 (UNSTARRED), answered on 2017-08-04
Subject: Refund to Investors by Fraudulent Companies
Ministry: CORPORATE AFFAIRS
Asked by: PR. SENTHILNATHAN

## GOVERNMENT OF INDIA

## MINISTRY OF CORPORATE AFFAIRS

LOK SABHA UNSTARRED QUESTION NO. 3252 ANSWERED ON FRIDAY, THE 04 TH  AUGUST, 2017 [SHRAVANA 13, 1939 (SAKA)]

## REFUND TO INVESTORS BY FRAUDULENT COMPANIES QUESTION

3252. SHRI PR. SENTHIL NATHAN:

Will the Minister of CORPORATE AFFAIRS be pleased to state:

(a) whether the Government has taken any strict action against the fraudulent companies through the Serious Fraud Investigation Organisation  (SFIO)  and  restored  the  money  back  to  the  victims  of fraudulent finance/chit companies; and

- (b) if so, the details thereof for the last five years, State/year-wise?

## ANSWER

THE MINISTER OF STATE IN THE                  (SHRI ARJUN RAM MEGHWAL) MINISTRY OF CORPORATE AFFAIRS

(a)  to  (b):  In  the  cases  of  complaints  of  serious  nature  involving companies which have defaulted after raising money from the public, the Ministry ordered investigation by the Serious Fraud Investigation Office (SFIO) under Section 210 and 212 of the Companies Act, 2013. The details are as per Annexure-I.  No money in these cases has been restored back to the investors.

*******

Annexure-I

## ANNEXURE REFERRED TO IN REPLY TO PART (a) to (b) OF THE UNSTARRED QUESTION NO. 3252 FOR ANSWER IN LOK SABHA ON 04.08.2017.

## SUMMARY OF CHIT FUND/MLM/PONZI CASES REFERRED TO SFIO FOR INVESTIGATION DURING THE LAST FIVE YEARS AND CURRENT YEAR UPTO 31.07.2017.

|               |                   | Year    | Year    | Year    | Year    | Year    | Year          |
|---------------|-------------------|---------|---------|---------|---------|---------|---------------|
| Sl. No.       | Name of the State | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | Total 2017-18 |
| 1 West        | Bengal -          | 57      |         | 29      | 26 20   | 20      | 152           |
| 2 Assam       | -                 | 1       | -       | 6       | 3       | -       | 10            |
| 3             | Uttar             | 1 5     | -       | -       | -       | 5       | 11            |
|               | Pradesh           |         |         |         |         |         |               |
| 4 Jharkhand   | -                 | -       | 2       | -       | -       | -       | 2             |
| 5 Bihar       | -                 | -       | 2       | -       | -       | -       | 2             |
| 6 Orissa      | -                 | -       | 18      | 8       | 1       | 4       | 31            |
| 7 Maharashtra | 2                 | -       | -       | 5       | 1       | -       | 8             |
| 8 Punjab      | -                 | -       | -       | 1       | -       | -       | 1             |
| 9 Rajasthan   | -                 | -       | -       | 1       | -       | -       | 1             |
| 10 Delhi      | 5                 | -       | -       | -       | 2       | 3       | 10            |
| 11 Gujarat    | -                 | -       | -       | -       | -       | 1       | 1             |
| 12 Tamil Nadu | 4                 | -       | -       | -       | -       | -       | 4             |
| Total         | Total             | 12      | 63      | 51      | 47      | 27      | 33 233        |

*******