Lok Sabha Question No. 583 (UNSTARRED), answered on 2018-07-20
Subject: Ponzi Schemes
Ministry: CORPORATE AFFAIRS
Asked by: HARISHCHANDRA DEORAM CHAVAN, RAM TAHAL CHOUDHARY

## GOVERNMENT OF INDIA

## MINISTRY OF CORPORATE AFFAIRS

## LOK SABHA UNSTARRED QUESTION NO. 583 ANSWERED ON FRIDAY, THE 20th JULY, 2018 [ASHADHA29, 1940 (SAKA)]

## PONZI SCHEMES

## QUESTION

583.  SHRI HARISHCHANDRA CHAVAN: SHRI RAM TAHAL CHOUDHARY:

Will the Minister of CORPORATE AFFAIRS         be pleased to state:

- (a)whether  the  Government  has  taken  action  or  conduct  enquiry  against those companies running ponzi schemes;
- (b)  if  so,  the  details  during  each  of  the  last  three  years  along  with  the procedure thereof; and
- (c)  the  number  and  names  of  companies  against  which  Serious  Fraud Investigation Office (SFIO) has taken up probes along with their addresses thereof?

## ANSWER

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

(a) to (c):Yes, Madam. The Ministry has ordered investigation into the affairs of 111 Companies [109 companies assigned to SFIO & 2 companies assigned to  Regional  Director  (RD)],  inspection  of  books  and  papers  of  8  Companies and inquiry in 12 Companies, which are allegedly involved in Ponzi/multi-level marketing/chit  fund  activities  during  the  last  three  years  and  current  year. The year-wise details of the companies are annexed as Annexure-I.

****

## LIST OF COMPANIES ALLEGED IN CHIT FUND /PONZI/MULTI-LEVEL MARKETING COMPANIES DURING THE LAST THREE YEARS AND CURRENT YEAR:

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

(A):  YEAR-WISE  DETAILS  OF  INVESTIGATIONS  ASSIGNED  TO  SERIOUS  FRAUD INVESTIGATION OFFICE (SFIO):-

| 2015-16   | 2015-16                                               | 2015-16           |
|-----------|-------------------------------------------------------|-------------------|
| SL NO     | NAME OF THE COMPANY                                   | NAME OF THE STATE |
| 1         | SARADHA HOUSING PVT. LTD.                             | WEST BENGAL       |
| 2         | AMBUJAATRIPURI INFRA (INDIA) LTD.                     | ODISHA            |
| 3         | AMBUJAATRIPURI BUSINESS PRIVATE LTD.                  | ODISHA            |
| 4         | ARTHA TATWA CONSULTANCY PRIVATE LTD.                  | ODISHA            |
| 5         | ARTHA TATWA WORLD VENTURES PVT. LTD.                  | ODISHA            |
| 6         | ARTHA TATWA FOOD MART PRIVATE LTD.                    | ODISHA            |
| 7         | ARTHA TATWA CAPITAL LIMITED                           | ODISHA            |
| 8         | AMBUJAATRIPURI ENGINEERING PVT. LTD.                  | ODISHA            |
| 9         | ORISHA HEALTH & MEDICAL RESEARCH INSTITUTE            | ODISHA            |
| 10        | GOLDMINE FOOD PRODUCTS LTD.                           | WEST BENGAL       |
| 11        | GOLDMINE AGRO LTD.                                    | WEST BENGAL       |
| 12        | CLASSIC RESOURCES LTD                                 | WEST BENGAL       |
| 13        | GOLDMINE INDUSTRIES LTD.                              | WEST BENGAL       |
| 14        | GOLDMINE HEIGHT PVT. LTD                              | WEST BENGAL       |
| 15        | GOLDMINE HOTEL & RESORTS PVT. LTD.                    | WEST BENGAL       |
| 16        | GOLDMINE ADVISORIES INDIA PVT. LTD.                   | WEST BENGAL       |
| 17        | GOLDMINE HEALTH CARE PVT. LTD.                        | WEST BENGAL       |
| 18        | SAMRUDDHA JEEVAN FOODS LTD.                           | MAHARASHTRA       |
| 19        | SAI PRASAD FOODS LTD.                                 | MAHARASHTRA       |
| 20        | SAI PRASAD PROPERTIES LTD.                            | MAHARASHTRA       |
| 21        | SAIPRASAD CORPORATION LTD.                            | MAHARASHTRA       |
| 22        | UTKARSHA PLOTTERS AND MULTI AGRO SOLUTIONS INDIA LTD. | MAHARASHTRA       |
| 23        | PGF LTD.                                              | PUNJAB            |
| 24        | PACL LTD.                                             | RAJASTHAN         |
| 25        | JEEVAN SURAKSHA TRADING AND FINANCIALS LTD.           | ASSAM             |
| 26        | JEEVAN SURAKSHA REAL ESTATE LTD.                      | ASSAM             |
| 27        | JEEVAN SURAKSHA ENERGY AND INDUSTRIES LTD.            | ASSAM             |
| 28        | JEEVAN SURAKSHA MERCANTILES PVT. LTD.                 | ASSAM             |
| 29        | JEEVAN SURAKSHA ASSURANCE AGENCY PVT. LTD.            | ASSAM             |
| 30        | JEEVAN SURAKSHA ASSOCIATES MARKETING PVT. LTD.        | ASSAM             |
| 31        | CHAKRA INFRASTRUCTURE LTD.                            | WEST BENGAL       |
| 32        | CHAKRABORTY ESTATES PVT. LTD.                         | WEST BENGAL       |
| 33        | CHAKRA AGROTECH PRIVATE LIMITED                       | WEST BENGAL       |

|   34 | CHAKRA WEALTH MANAGEMENT ADVISORY LIMITED          | WEST BENGAL   |
|------|----------------------------------------------------|---------------|
|   35 | CHAKRA HOTEL AND LEISURE LIMITED                   | WEST BENGAL   |
|   36 | CHAKRAMART RETAIL INDIA LIMITED                    | WEST BENGAL   |
|   37 | JAI SADGURU ADVISORY AND AGENCY SERVICES PVT. LTD. | WEST BENGAL   |
|   38 | DISHA PRODUCTIONS & MEDIA PVT. LTD.                | WEST BENGAL   |
|   39 | MPS GREENERY DEVELOPERS LTD.                       | WEST BENGAL   |
|   40 | MPS FOOD PRODUCTS LTD.                             | WEST BENGAL   |
|   41 | MPS RESORTS AND HOTELS LTD.                        | WEST BENGAL   |
|   42 | MPS AQUA MARINE PRODUCTS LTD.                      | WEST BENGAL   |
|   43 | MPS INDUSTRIES & AGRO RESEARCH LTD.                | WEST BENGAL   |
|   44 | MPS AYURVEDIC & HERBAL PRODUCTS PVT. LTD.          | WEST BENGAL   |
|   45 | MPS REAL ESTATE & INFRASTRUCTURE PVT. LTD.         | WEST BENGAL   |
|   46 | MPS RETAILS AND FAST FOOD PVT. LTD.                | WEST BENGAL   |
|   47 | PROMOTECH INFRATECH LTD.                           | WEST BENGAL   |

| 2016-17   | 2016-17                                                              | 2016-17                 |
|-----------|----------------------------------------------------------------------|-------------------------|
| SL NO     | NAME OF THE COMPANIES                                                | NAME OF THE STATE       |
| 1         | MAITRI SUVARNASIDHI PVT LTD                                          | MAHARASHTRA             |
| 2         | GOLDMINE ANILMAL HUSBANDRY PVT. LTD.                                 | WEST BENGAL             |
| 3         | PRAYAG INFOTECH HI-RISE LTD.                                         | WEST BENGAL             |
| 4         | PRAYAG INFOTECH NETWORK PVT. LTD. (PINPL)                            | WEST BENGAL             |
| 5         | PRAYAG ORGANICS PVT. LTD. (POPL)                                     | WEST BENGAL             |
| 6         | PRAYAG HOTEL & RESORTS PVT. LTD. (PHRPL)                             | WEST BENGAL             |
| 7         | PRAYAG ENTERTAINMENTS PVT. LTD.(PEPL)                                | WEST BENGAL             |
| 8         | PRAYAG INFRA REALTORS LTD. (PIRL)                                    | WEST BENGAL             |
| 9         | SAMUDRA VILLA PVT. LTD. (SVPL)                                       | WEST BENGAL             |
| 10        | PRAYAG AVIATION SERVICES PVT. LTD. (PASPL)                           | WEST BENGAL             |
| 11        | GP CEMENT WORKS PVT. LTD (GPCWPL) PRAYAG FISHERIES (INDIA) PVT. LTD. | WEST BENGAL WEST BENGAL |
| 12        | (PFTIPL)                                                             |                         |
| 13        | PRAYAG FILM & TELEVISION INDUSTRIES PVT. LTD. (PFTIPL)               | WEST BENGAL             |
| 14        | MAKS BISCUIT PVT. LTD. (MBPL)                                        | WEST BENGAL             |
| 15        | INSEC SECURITY & SERVICES PVT. LTD (ISSPL)                           | WEST BENGAL             |
| 16        | ROYAL CONCRETE PRODUCTS PVT. LTD. (RDPPL)                            | WEST BENGAL             |
| 17        | PRAYAG PUBLICATION PVT. LTD. (PPPL)                                  | WEST BENGAL             |
| 18        | PRAYAG BIO-TECH PVT. LTD. (PBPL)                                     | WEST BENGAL             |
| 19        | PRAYAG DIAGNOSTIC & RESEARCH CENTRE PVT. LTD. (PDRCPL)               | WEST BENGAL             |
| 20        | PRAYAG MICRO FINANCE (PMF)                                           | WEST BENGAL             |
| 21        | FAYED HOSPITALITY PVT. LTD. (FHPL)                                   | ASSAM                   |
| 22        | SASHI KUMAR TEA COMPANY PVT. LTD. (SKTCPL)                           | ASSAM                   |
| 23        | KLEN COMMERCIALS PVT. LTD. (KCPL)                                    | ASSAM                   |

|   24 | PRAYAG & PRAYAG MULTICARE PVT. LTD (PPMCPL)                | ODISHA      |
|------|------------------------------------------------------------|-------------|
|   25 | OKARA AGRO INDUSTRIES LIMITED AND OTHER GROUP OF COMPANIES | DELHI       |
|   26 | ABLAZE INFO SOLUTIONS PVT. LTD.                            | DELHI       |
|   27 | URO ENCLAVE INDIA LTD.                                     | WEST BENGAL |

## 2017-18

|   S.NO. | NAME OF THE COMPANY                                                                                   | NAME OF THE STATE   |
|---------|-------------------------------------------------------------------------------------------------------|---------------------|
|       1 | SAFE AND SECURE ONLINE MARKETING PVT. LTD.                                                            | DELHI               |
|       2 | WEBWORK TRADE LINKS PRIVATE LIMITED AND ITS 04 GROUP COMPANIES                                        | UTTAR PRADESH       |
|       3 | ADDS BOOK MARKETING PRIVATE LIMITED                                                                   | UTTAR PRADESH       |
|       4 | AAGE INFRA VENTURES PRIVATE LIMITED                                                                   | UTTAR PRADESH       |
|       5 | AARVANSS CC INFRA PRIVATE LIMITED                                                                     | UTTAR PRADESH       |
|       6 | SAGE FMCG INDIA LIMITED                                                                               | UTTAR PRADESH       |
|       7 | GREEN RAY INTERNATIONAL LTD. AND ITS 03 GROUP COMPANIES                                               | ODISHA              |
|       8 | GREENRAY PHARMACEUTICAL PRIVATE LTD.                                                                  | ODISHA              |
|       9 | GREENRAY FOODS & NUTRIENTS PRIVATE LTD.                                                               | ODISHA              |
|      10 | GREEN RAY ALLIED CHEMICALS LTD.                                                                       | ODISHA              |
|      11 | WARIS FINANCE INTERNATIONAL LTD. (PRESENTLY KNOW AS WARIS INDUSTRIES LTD.) AND ITS 21 GROUP COMPANIES | WEST BENGAL         |
|      12 | WARIS HEALTHCARE LTD.                                                                                 | WEST BENGAL         |
|      13 | WARIS TEL INTERNATIONAL LTD.                                                                          | WEST BENGAL         |
|      14 | WARIS FINANCE & INVESTMENT LTD.                                                                       | WEST BENGAL         |
|      15 | WARIS TRADING & COMPANY PRIVATE LTD.                                                                  | WEST BENGAL         |
|      16 | WARIS FOODS & BEVERAGES PRIVATE LTD.                                                                  | WEST BENGAL         |
|      17 | WARIS HIMGHAR PRIAVTE LTD.                                                                            | WEST BENGAL         |
|      18 | WARIS TV BROADCASTING PVT. LTD.                                                                       | WEST BENGAL         |
|      19 | WARIS MICRO FINANCE                                                                                   | WEST BENGAL         |
|      20 | SHANE RESTAURANTS & RESORTS LTD.                                                                      | WEST BENGAL         |
|      21 | ERAM INFRASTRUCTURE LTD.                                                                              | WEST BENGAL         |
|      22 | AGARTALA FOOD PROCESSING PVT. LTD.                                                                    | WEST BENGAL         |
|      23 | ERAM JEWELLERY LTD.                                                                                   | WEST BENGAL         |
|      24 | VISHAL FINLEASE LTD.                                                                                  | GUJRAT              |
|      25 | WARIS HERBAL PRODUCTS PVT. LTD.                                                                       | WEST BENGAL         |
|      26 | WARIS REAL ESTATE PVT. LTD.                                                                           | WEST BENGAL         |
|      27 | WARIS CAPITAL FINANCE LTD.                                                                            | WEST BENGAL         |
|      28 | HARSH PLANTATION LTD.                                                                                 | WEST BENGAL         |
|      29 | LOPAX MARKETING PVT. LTD.                                                                             | WEST BENGAL         |
|      30 | ARSHDEEP FINANCE LTD.                                                                                 | DELHI               |
|      31 | SHREE MANUFACTURING CO. LTD.                                                                          | DELHI               |

|   32 | WARSI PRODUCER COMPANY LTD.                     | WEST BENGAL   |
|------|-------------------------------------------------|---------------|
|   33 | WELLFARE BUILDINGS AND ESTATES PRIVATE LIMITED. | WEST BENGAL   |
|   34 | MICRO LEASING AND FUNDING LTD.                  | ODISHA        |

## 2018-19 (UPTO 30.06.2018)

|   S.NO. | NAME OF THE COMPANY                     | NAME OF THE STATE   |
|---------|-----------------------------------------|---------------------|
|       1 | ROYAL TWINKLE STAR CLUB PRIVATE LIMITED | MAHARASHTRA         |

(B): YEAR-WISE DETAILS OF INVESTIGATIONS ASSIGNED TO REGIONAL DIRECTOR (RD), MINISTRY OF CORPORATE AFFAIRS:-

## 2016-17

| SL   | NAME OF COMPANY                      | NAME OF THE STATE   |
|------|--------------------------------------|---------------------|
| NO.  |                                      |                     |
| 1    | MAITRI SUVARNASIDDHI PRIVATE LIMITED | KARNATAKA           |

## 2017-18

| SL    | NAME OF COMPANY                           | NAME OF THE STATE   |
|-------|-------------------------------------------|---------------------|
| NO. 1 | SUPER ROYAL HOLIDAY INDIA PRIVATE LIMITED | KARNATAKA           |

## (C): YEAR-WISE DETAILS OF INSPECTIONS ORDERED BY THE MINISTRY:2015-16

| SL.NO.   | NAME OF THE COMPANIES   | NAME OF THE STATE   |
|----------|-------------------------|---------------------|
| NIL      | NIL                     | NIL                 |

## 2016-17

|   SL.NO. | NAME OF THE COMPANIES                      | NAME OF THE STATE   |
|----------|--------------------------------------------|---------------------|
|        1 | KAPIL CONSULTANCY SERVICES PRIVATE LIMITED | TELANGANA           |
|        2 | KAPIL CHITS (KOSTA) PRIVATE LIMITED        | ANDHRA PRADESH      |
|        3 | KAPIL INFRA AVENUES PRIVATE LIMITED        | ANDHRA PRADESH      |
|        4 | RAMYA CONSTRUCTIONS LIMITED                | ANDHRA PRADESH      |
|        5 | KAPIL FOODS AND STRUCTURES PRIVATE LIMITED | TELANGANA           |

## 2017-18

| SL.NO.   | NAME OF THE COMPANIES   | NAME OF THE STATE   |
|----------|-------------------------|---------------------|

|   1 | AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED   | TELANGANA   |
|-----|------------------------------------------------|-------------|
|   2 | VIHAAN DIRECT SELLING PRIVATE LIMITED          | KARNATAKA   |
|   3 | MAKHOUSE INFRATECH PRIVATE LIMITED             | TAMILNADU   |

## 2018-19 (UPTO 30.06.2018)

| S.NO.   | NAME OF THE COMPANY   | NAME OF THE STATE   |
|---------|-----------------------|---------------------|
| NIL     | NIL                   | NIL                 |

(D): YEAR-WISE DETAILS OF INQUIRYORDERED BY THE MINISTRY:-

## 2015-16

| SL.NO.   | NAME OF THE COMPANIES   | NAME OF THE STATE   |
|----------|-------------------------|---------------------|
| NIL      | NIL                     | NIL                 |

## 2016-17

|   SL.NO. | NAME OF THE COMPANIES                                       | NAME OF THE STATE   |
|----------|-------------------------------------------------------------|---------------------|
|        1 | HEERA GOLD EXMIM LIMITED                                    | TELANGANA           |
|        2 | HEERA RETAIL (HYDERABAD) LIMITED                            | TELANGANA           |
|        3 | KAUSALYA AGRO FARMS AND DEVELOPERS PRIVATE LIMITED          | TELANGANA           |
|        4 | KAUSALYA MANAGEMENT SERVICES AND STRUCTURES PRIVATE LIMITED | TELANGANA           |
|        5 | KAUSALYA AVENUES PRIVATE LIMITED                            | TELANGANA           |
|        6 | DAKSHIN INFRA STRUCTURES PRIVATE LIMITED                    | TELANGANA           |

## 2017-18

|   SL.NO. | NAME OF THE COMPANIES                           | NAME OF THE STATE                               |
|----------|-------------------------------------------------|-------------------------------------------------|
|        1 | HEERA DEVELOPERS (HYEDRABAD) PRIVATE LIMITED    | TELANGANA                                       |
|        2 | HEERA ICE DROP PRIVATE LIMITED                  | TELANGANA                                       |
|        3 | HEERA FOODEX PRIVATE LIMITED                    | TELANGANA                                       |
|        4 | DREAMZ INFRA INDIA LIMITED                      | KARNATAKA                                       |
|        5 | HARSHA ENTERTAINMENT PRIVATE LIMITED            | KARNATAKA                                       |
|        6 | GOLDEN TREES PLANTATION PRIVATE LIMITED GUJARAT | GOLDEN TREES PLANTATION PRIVATE LIMITED GUJARAT |

## 2018-19 (UPTO 30.06.2018)

| S.NO.   | NAME OF THE COMPANY   | NAME OF THE STATE   |
|---------|-----------------------|---------------------|
| NIL     | NIL                   | NIL                 |