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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 ..... Ministry into the affairs of 258 companies allegedly indulging in fraudulent/ illegal activities. Of these, 116 investigations have been completed and reports submitted to the Ministry, while in 08 ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ses, investigations have been stayed by the Courts. Further, out of the completed investigations, Ministry has ordered filing of prosecutions in 102 cases, against companies/ directors/ officers in de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fault on account of various non-compliances/ offences committed under the Companies Act, 1956 and other Statutes, as recommended in the investigation reports. Steps taken by the Ministry include: * ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the term "Fraud" has been defined in the Companies Act, 2013; * Stricter norms of Corporate Governance and their implementation in the Companies Act, 2013; * Statutory status to the Serious Fraud ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Investigation Office (SFIO); * Increasing application of technology for early detection of frauds through data mining and Forensic Audit, etc. This was stated by Shri Arun Jaitley, Minister of Cor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... porate Affairs in written reply to a question in the Lok Sabha. X X X X Extracts X X X X X X X X Extracts X X X X
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