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 on 07.08.2018.