LOK SABHA
During the course of investigation, the Serious Fraud Investigation Office (SFIO) has detected, in respect of the companies investigated, violations of various provisions of Companies Act, 1956, financial irregularities and contraventions of the provisions of Income Tax Act, FEMA, Excise and Sales Tax Acts etc. which attracts the penal provisions of the relevant Acts and offences under Indian Penal Code(IPC).
The Ministry of Company Affairs has not received complaints against the affairs of M/s Cipla, Wochardt and Sun alleging that the above companies are indulging in fraudulent activity meriting action under section 235/237 of the Companies Act, 1956.
Following is the List of cases referred to Serious Fraud Investigation Office for investigation:| S.No. | Name of Company | Status |
| 1. | Daewoo Motors India Ltd. | Investigation completed |
| 2. | DSQ Software Ltd. | Do |
| 3. | Design Auto Systems Ltd. | Do |
| 4. | Bonanza Biotech Ltd. | Do |
| 5. | Vatsa Corporation Ltd. | Do |
| 6. | Mardia Chemicals Ltd. | Do |
| 7. | Adam Comsof Ltd. | Do |
| 8. | Kolar Biotech Ltd | Do |
| 9. | Soundcraft Industries Ltd. | Do |
| 10 | Usha (India) Ltd. | Do |
| 11 | Malvika Steels Ltd. | Do |
| 12 | Ispat industries Ltd. | Investigation order was quashed by Kolkata High Court |
| 13 | Triumph International Finance India Ltd. | Investigation is in progress |
| 14 | N H Securities Ltd | Do |
| 15 | KNP Securities Pvt. Ltd | Do |
| 16 | V N Parekh Securities Pvt Ltd. | Do |
| 17 | Panther Fincap and Management Services Ltd. | Do |
| 18 | Panther Investrade Ltd. | Do |
| 19 | Panther Industrial Products Ltd. | Do |
| 20 | Saimangal Investrade Ltd. | Do |
| 21 | Classic Credit Ltd. | Do |
| 22 | Classic Shares & Stock Broking Services Ltd. | Do |
| 23 | Luminant Investrade Pvt. Ltd. | Do |
| 24 | Goldfish Computers Pvt. Ltd. | Do |
| 25 | Triumph Securities Pvt Ltd. | Do |
| 26 | Nakshatra Software Pvt. Ltd. | Do |
| 27 | Chitrakoot Computers Pvt. Ltd. | Do |
| 28 | Manmandir Estate Development Pvt. Ltd. | Do |
| 29 | Koshika Telecom Ltd. | Do |
| 30 | Mukta Arts Ltd. | Investigation has been stayed by Hon’ble High Court of Bombay |
This information was given by Shri Prem Chand Gupta, Minister of Company Affairs in reply to a question raised by Shri Mohd. Mukeem in Lok Sabha here today.
BY/ 11/06