Lok Sabha Question No. 6 (UNSTARRED), answered on 2017-12-15
Subject: Delay in Investigations by SFIO
Ministry: CORPORATE AFFAIRS
Asked by: S.P. MUDDAHANUMEGOWDA, C.S. PUTTARAJU

## GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS

## LOK SABHA

## UNSTARRED QUESTION NO. 6 ANSWERED ON FRIDAY, THE 15TH DECEMBER, 2017 [AGRAHAYANA 24, 1939 (SAKA)]

## DELAY IN INVESTIGATIONS BY SFIO

## QUESTION

6. SHR S. P. MUDDAHANUME GOWDA: SHRI C. S. PUTTA RAJU:

Will the Minister of CORPORATE AFFAIRS be pleased to state:

- (a) whether the Government has ordered for investigation into the affairs of any companies through the Serious Fraud Investigation Office (SFIO);
- (b)
- if so, the details thereof and their current status;
- (c) the  effective  measures  taken  by  the  Government  to  expedite  the investigation  process  and  to  avoid  any  delay  in  providing  justice  to  the people who lost their savings through these companies; and
- (d) the  total  value  of  amount  restored  and  given  back  to  the  affected customers in the last three years, year-wise?

## ANSWER

## MINISTER OF STATE FOR LAW AND JUSTICE           (SHRI P. P. CHAUDHARY) AND CORPORATE AFFAIRS

- (a)  &  (b):  During  the  period  since  establishment  of  the  Serious  Fraud Investigation Office (SFIO), the Government has ordered investigation into the affairs of 661 companies and assigned the same to SFIO.  Till date, SFIO has completed investigation involving 430 companies.  The details of cases assigned and investigated by SFIO are enclosed, at Annexure-I.
- (c): i)  Capacity  building  in  SFIO  through  induction  of  technology  for expeditious processing of data.
- ii)  Initiation  of  the  process  of  hiring  skilled  manpower  through  new Recruitment Rules.
- iii) Engagement of professionals in areas where skill sets are not available within the Government.
- iv) Effective coordination with other investigation agencies.
- (d):  No  amount  has  been  recovered  and  given  back  to  the  affected
- customers during the last three years.
- *******

Annexure-1

ANNEXURE  REFERRED  TO  IN  REPLY  TO  PART  (a)  &  (b)  OF  THE UNSTARRED  QUESTION  NO.  6  FOR  ANSWER  IN  LOK  SABHA  ON 15.12.2017.

Status of cases assigned and completed by SFIO (As on 10.12.2017)

| Financial Year   | Particular                      | Particular                       |
|------------------|---------------------------------|----------------------------------|
| Financial Year   | Investigations Assigned to SFIO | Investigations Completed by SFIO |
| 2003-04          | 6                               | 1                                |
| 2004-05          | 20                              | 3                                |
| 2005-06          | 5                               | 7                                |
| 2006-07          | 3                               | 18                               |
| 2007-08          | 17                              | 1                                |
| 2008-09          | 17                              | 7                                |
| 2009-10          | 5                               | 12                               |
| 2010-11          | 6                               | 13                               |
| 2011-12          | 13                              | 20                               |
| 2012-13          | 45                              | 22                               |
| 2013-14          | 83                              | 22                               |
| 2014-15          | 71                              | 39                               |
| 2015-16          | 184                             | 60                               |
| 2016-17          | 111                             | 87                               |
| 2017-18          | 75                              | 118                              |
| Total            | 661                             | 430                              |

| No. of Cases assigned to SFIO   | No. of Cases assigned to SFIO   |   661 |
|---------------------------------|---------------------------------|-------|
| Less:                           | Investigation Completed         |   430 |
| Less:                           | Cases Quashed/Withdrawn         |    11 |
| Less:                           | Cases Stayed                    |     5 |
| Cases Under Progress            | Cases Under Progress            |   215 |

*******