Question : INVESTIGATION BY SFIO

(a) whether detection of 30 cases during the first two years of functioning of the Serious Fraud Investigation office is quite inadequate;

(b) if so, the type of frauds detected;

(c) whether major companies like Cipla, Wochardt, Sun have been probed by SFIO;

(d) if so, the details thereof and if not the reasons therefor;and

(e) the present status of the investigation?

MINISTER OF COMPANY AFFAIRS (SHRI PREM CHAND GUPTA)

(a) &(b) No, Sir. During the course of investigation, the 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).

( c) The list of companies in respect of which investigation has been taken up by SFIO is at annex. These do not include CIPLA, Wochardt, Sun.

(d) 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.

(e) Question does not arise.

Annexure referred to in Part (c) of Lok Sabha Unstarred Question No. 786 for 24-2-2006

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