Lok Sabha Question No. 3359 (UNSTARRED), answered on 2016-08-05
Subject: Cases Investigated by SFIO
Ministry: CORPORATE AFFAIRS
Asked by: ANOOP MISHRA

## GOVERNMENT OF INDIA

## MINISTRY OF CORPORATE AFFAIRS

## LOK SABHA

UNSTARRED QUESTION NO. 3359 ANSWERED ON FRIDAY, THE 05TH AUGUST, 2016 [SHRAVANA 14, 1938 (SAKA)]

## CASES INVESTIGATED BY SFIO

## QUESTION

## 3359. SHRI ANOOP MISHRA:

Will the Minister of CORPORATE AFFAIRS be pleased to state:

- (a) the number of cases being investigated by the Serious Fraud Investigation Office (SFIO) at present;
- (b) the rate of success of investigations conducted by SFIO during the last few years;
- (c) the  case-wise  details  of  the  major  cases  in  which  investigation  was started and completed by the SFIO during the last three years;
- (d) whether the Government is considering consolidation of more powers in the charter of work of SFIO; and
- (e) if so, the details thereof?

## ANSWER

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

- (a) 226.
- (b) During the last three years and current year, in respect of the cases filed  by  SFIO  in  various  courts,  conviction  has  been  made  in  45  cases wherein  fine  of  approximately  Rs.130.06  lakh  has  been  imposed.    The punishment  also  included  imprisonment  for  six  months  to  directors  of  the company concerned in four cases.
- (c) During  the  last  three  years,  SFIO  started  and  completed  11  major investigations involving 118 companies.  The case-wise details are enclosed as Annexure-I
- (d) The  existing  provisions  in  the  Companies  Act,  2013  governing  the activities  of  SFIO  are  considered  to  be  sufficient  and  presently  there  is  no proposal under consideration for more powers to SFIO.
- (e) Does not arise in view of (d) above.

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## ANNEXURE REFERRED TO IN REPLY TO PART (c) OF THE UNSTARRED QUESTION NO. 3359 FOR ANSWER IN LOK SABHA ON 05.08.2016.

## Case-wise details of the major investigations which were started and completed during the last three years

| Year 2013-14   | Year 2013-14                                  | Year 2013-14                   | Year 2013-14                        |
|----------------|-----------------------------------------------|--------------------------------|-------------------------------------|
| Sr. No.        | Name of the company                           | Date of order of investigation | Date of completion of investigation |
| 1.             | Rose Valley Group of Companies (19 companies) | 01.05.2013                     | 03.12.2014                          |
| 2.             | Icore Group of Companies (12 companies)       | 01.05.2013                     | 04.09.2015                          |
| 3.             | Saradha Group of companies (14 companies)     | 01.05.2013                     | 04.07.2014                          |
| 4.             | Sunshine Group of companies (9 companies)     | 01.05.2013                     | 27.04.2015                          |
| 5.             | URO Group of companies (9 companies)          | 15.07.2013                     | 31.12.2015                          |
| 6.             | NKS Group of companies (11 companies)         | 28.10.2013                     | 31.03.2016                          |

|   Year 2014-15 | Year 2014-15                                    | Year 2014-15   | Year 2014-15   |
|----------------|-------------------------------------------------|----------------|----------------|
|              7 | S. K. Gupta Group of companies (10 companies)   | 29.06.2015     | 31.03.2016     |
|              8 | Ramel Group of companies (16 companies)         | 31.10.2014     | 31.05.2016     |
|              9 | Catmoss Retail Pvt. Ltd. (in Liquidation)       | 15.12.2014     | 21.12.2015     |
|             10 | Rahul Hi Rise Group of Companies (16 companies) | 12.01.2015     | 31.05.2016     |

|   Year 2015-16 | Year 2015-16              | Year 2015-16   | Year 2015-16   |
|----------------|---------------------------|----------------|----------------|
|             11 | Saradha Housing Pvt. Ltd. | 06.04.2015     | 30.09.2015     |

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