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TMI BlogCorporate FraudsX X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Frauds X X X X Extracts X X X X X X X X Extracts X X X X ..... anies allegedly indulging in fraudulent/illegal activities. Of these, 64 investigations have been completed and reports submitted to the Ministry while in 2 cases, investigations have been stayed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Courts. In respect of completed investigations, Ministry has ordered filing of prosecutions against companies/ directors/ officers in default on account of various non-compliances/ offences committ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed under the Companies Act, 1956 and other Statutes, as recommended in the investigation reports. Steps taken by the Ministry include: (i) Setting up a Market Research and Analysis Unit (MRAU) in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Serious Fraud Investigation Office (SFIO) with the objectives of analyzing media reports relating to financial frauds and for conducting market surveillance of such corporates. (ii) A forensic lab w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith appropriate technology and skilled technical manpower has also been set up in the SFIO as part of MRAU. (iii) An 'Early Warning System' is being developed that would generate alerts for analysis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and early detection of potential frauds. A pilot testing was carried out during the year 2013-14. This was stated by the Minister of Corporate Affairs, Shri Arun Jaitley in a written reply to a quest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion in Lok Sabha today. X X X X Extracts X X X X X X X X Extracts X X X X
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